{"id":573105,"date":"2024-02-03T03:00:35","date_gmt":"2024-02-03T03:00:35","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=573105"},"modified":"2024-02-02T19:36:07","modified_gmt":"2024-02-02T19:36:07","slug":"solana-dexs-outperform-ethereum-in-key-metric-heres-what-this-means","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/solana\/solana-dexs-outperform-ethereum-in-key-metric-heres-what-this-means\/","title":{"rendered":"Solana DEXs Outperform Ethereum In Key Metric, Here’s What This Means"},"content":{"rendered":"

Recent data shows that Solana-based decentralized exchanges (DEXs) have taken Ethereum\u2019s spot in a key metric, creating expectations and positive sentiment for the Solana (SOL) ecosystem.<\/p>\n

Related Reading: SOL Price Faces Big Move \u2013 Can Bulls Send Solana To $120?<\/a><\/div>\n

Solana DEXs Outperform Ethereum<\/h2>\n

According to data from DeFiLlama<\/a>, Solana-based decentralized exchanges (DEXs) have flipped Ethereum in daily trading volume. Over the last 24 hours, Solana\u2019s $1.14 billion trading volume surpasses Ethereum DEX\u2019s $1.133 billion trading volume.<\/p>\n

This accomplishment occurred for the first time in December of 2023<\/a> when Solana\u2019s daily DEX volume reached $1.475 billion, surpassing Ethereum\u2019s $1.164 billion, and hit a growing interest by traders in the SOL ecosystem.<\/p>\n

\"\"<\/p>\n

Solana surpasses Ethereum in the DEX 24-hour volume. Source: DeFiLlama<\/pre>\n
Solana also saw a weekly change of +37.67% in its trading volume. However, the data shows that Ethereum is still above Solana in the 7-day volume metric, with $7.852 billion and $ 6.113 billion, respectively.<\/p>\n
Additionally, data from CoinGecko<\/a> shows that Solana-based DEXs Jupiter and Orca are among the 3 largest decentralized exchanges by volume in the last 24 hours. As the chart below displays, Jupiter has a daily volume of $ 614 million, while Orca shows a volume of $380 million, occupying the second and third spots, respectively.<\/p>\n
Ethereum\u2019s Uniswap V3 topped the chart with a daily volume of $636 million. The data also shows Raydium among the top 10 DEXs by volume in the last 24 hours.<\/p>\n
\"\"<\/p>\n
Jupiter and Orca are among the top 3 decentralized exchanges in the 24H trading volume. Sorce: CoinGecko<\/pre>\n
Research platform SoSo Value pointed out on X (formerly known as Twitter) the recent Jupiter\u2019s rise<\/a> in popularity and monthly users\u2019 increase as a key contributor to the Solana ecosystem\u2019s boost in activity, bringing considerable attention and trading activity into the ecosystem.<\/p>\n
These recent achievements hint at a healthy growth and development of Solana\u2019s DeFi ecosystem.<\/p>\n
Solana\u2019s Price Action<\/h2>\n
The surge in interest in Solana has been driven by its meme coin sector, the airdrops, and fast transactions offered to its users. As a result, its native token managed to reclaim previously lost territory.<\/p>\n
However, while Solana surpassed Ethereum’s DEX on low timeframes, the second crypto by market cap remains king of the DeFi sector. The chart above shows that the Ethereum-based DEX holds over $6 billion in Total Value Locked (TVL).<\/p>\n
This piece of data indicates the resilience of the ETH ecosystem in maintaining its position as king of DeFi but holds promise for Solana. The fast-growing blockchain could attract further attention and interest if the daily trend extends.<\/p>\n
Despite some fluctuation in the last few weeks<\/a>, Solana\u2019s price has surfaced in the $90-$100 price range in the last month. According to CoinGecko data, SOL\u2019s price has surged 1.9% in the last 24 hours and 6.3% in the previous 7 days.<\/p>\n
Related Reading: Forget Bitcoin, This Billionaire Is Betting Big On Solana For 2024<\/a><\/div>\n
\"SOLUSDT,<\/p>\n
SOL is trading at $100.23 in the hourly chart. Source: BTCUSDT on Tradingview.com<\/a><\/pre>\n
\n
Featured image from Unsplash.com, Chart from Tradingview.com<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Recent data shows that Solana-based decentralized exchanges (DEXs) have taken Ethereum\u2019s spot in a key metric, creating expectations and positive sentiment for the Solana (SOL) ecosystem. Related Reading: SOL Price Faces Big Move \u2013 Can Bulls Send Solana To $120? Solana DEXs Outperform Ethereum According to data from DeFiLlama, Solana-based decentralized exchanges (DEXs) have flipped Ethereum in daily trading volume. Over the last 24 hours, Solana\u2019s $1.14 billion trading volume surpasses Ethereum DEX\u2019s $1.133 billion trading volume. This accomplishment occurred for the first time in December of 2023 when Solana\u2019s daily DEX volume reached $1.475 billion, surpassing Ethereum\u2019s $1.164 billion, and hit a growing interest by traders in the SOL ecosystem. Solana surpasses Ethereum in the DEX 24-hour volume. Source: DeFiLlama Solana also saw a weekly change of +37.67% in its trading volume. However, the data shows that Ethereum is still above Solana in the 7-day volume metric, with $7.852 billion and $ 6.113 billion, respectively. Additionally, data from CoinGecko shows that Solana-based DEXs Jupiter and Orca are among the 3 largest decentralized exchanges by volume in the last 24 hours. As the chart below displays, Jupiter has a daily volume of $ 614 million, while Orca shows a volume of $380 million, occupying the second and third spots, respectively. Ethereum\u2019s Uniswap V3 topped the chart with a daily volume of $636 million. The data also shows Raydium among the top 10 DEXs by volume in the last 24 hours. Jupiter and Orca are among the top 3 decentralized exchanges in the 24H trading volume. Sorce: CoinGecko Research platform SoSo Value pointed out on X (formerly known as Twitter) the recent Jupiter\u2019s rise in popularity and monthly users\u2019 increase as a key contributor to the Solana ecosystem\u2019s boost in activity, bringing considerable attention and trading activity into the ecosystem. These recent achievements hint at a healthy growth and development of Solana\u2019s DeFi ecosystem. Solana\u2019s Price Action The surge in interest in Solana has been driven by its meme coin sector, the airdrops, and fast transactions offered to its users. As a result, its native token managed to reclaim previously lost territory. However, while Solana surpassed Ethereum’s DEX on low timeframes, the second crypto by market cap remains king of the DeFi sector. The chart above shows that the Ethereum-based DEX holds over $6 billion in Total Value Locked (TVL). This piece of data indicates the resilience of the ETH ecosystem in maintaining its position as king of DeFi but holds promise for Solana. The fast-growing blockchain could attract further attention and interest if the daily trend extends. Despite some fluctuation in the last few weeks, Solana\u2019s price has surfaced in the $90-$100 price range in the last month. According to CoinGecko data, SOL\u2019s price has surged 1.9% in the last 24 hours and 6.3% in the previous 7 days. Related Reading: Forget Bitcoin, This Billionaire Is Betting Big On Solana For 2024 SOL is trading at $100.23 in the hourly chart. Source: BTCUSDT on Tradingview.com Featured image from Unsplash.com, Chart from Tradingview.com<\/p>\n","protected":false},"author":614,"featured_media":573110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[8323,1946,78803,12837,84595,86813,91514,83627],"class_list":["post-573105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-eth","tag-ethereum","tag-ethusdt","tag-sol","tag-solana-blockchain","tag-solana-defi","tag-solana-dex","tag-solusdt"],"acf":[],"yoast_head":"\nSolana DEXs Outperform Ethereum In Key Metric<\/title>\n<meta name=\"description\" content=\"Important metric has shown that Solana's descentralized exchanges (DEX) have surprased Etherum for the second time.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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