According to Defillama data, the latest metrics reveal a significant downturn in DEX trading volume on the Ethereum network, plummeting by a staggering 44.94% last week. The total trading volume for Ethereum reached $96.96 billion, indicating a critical shift in market dynamics. In stark contrast, Solana emerged as the leader, securing the top position with a remarkable transaction volume of $151.55 billion during the same timeframe. Meanwhile, other notable blockchain networks showed varied performance: BSC recorded $67.31 billion, followed by Avalanche with $36.67 billion and Arbitrum at $26.50 billion. These figures underscore the shifting landscape of decentralized finance and highlight the competitive pressures among major blockchain ecosystems.
Source: https://en.coinotag.com/breakingnews/solana-surges-to-top-of-blockchain-transaction-volume-as-ethereum-dex-trading-plummets-by-44-94/