Solana (SOL) Continues to Outperform Ethereum (ETH) in Decentralized Exchange (DEX) Volume! Here is the Latest Data

Solana is on track to extend its four-month streak of outperforming Ethereum (ETH) and other smart contract blockchains in decentralized exchange (DEX) volume, even as the overall crypto market remains stagnant.

Solana DEX Volume Surpasses $60 Million, Extending Its Superiority Over Ethereum

According to DeFiLlama, Solana-based DEXs have recorded over $60 million in total trading volume this month, almost double Ethereum’s $34 million.

Tagus Capital noted that the network’s lower fees and higher throughput continue to attract both developers and investors, cementing its growing dominance in the decentralized finance (DeFi) ecosystem.

Solana has been the leader in DEX volume since October 2023. In January 2024, Solana-based DEXs processed $258 billion in transactions, surpassing Ethereum’s $86 billion.

But Solana’s dominance isn’t just about transaction volume. Despite being known as a low-cost blockchain, it has also generated significant revenue:

• Şubat ayı gelirleri:
  • Solana: $25 million
  • Ethereum: $16 million
• Ocak ayı geliri:
  • Solana: $124 million
  • Ethereum: $109 million

This strong yield performance supports the bullish case for the SOL-ETH trading pair, which has retreated to 0.075 after reaching a high near 0.09 in January, according to TradingView data.

Despite Solana’s DEX volume lead, Ethereum still leads in total value locked (TVL), a key metric for measuring blockchain adoption.

• Ethereum TVL: $57 billion
• Solana TVL: $9 billion

While Ethereum remains the largest DeFi ecosystem, Solana’s continued growth in trading activity and revenue generation could signal a long-term shift in the blockchain landscape.

*This is not investment advice.