Solana Captures 50% Share with $2.57B DEX Volume, Surpasses Ethereum

Jun 8, 2024, 06:56 PM

Solana has experienced significant growth in decentralized exchange (DEX) volume and active user engagement over the past 24 hours. According to data from Dexscreener, Solana's DEX volume reached $2.57 billion, more than double Ethereum's $1.22 billion. This marks the second consecutive day that Solana's DEX volume has surpassed Ethereum's. Additionally, over 1 million active wallets interacted with the Solana ecosystem, representing an 18.73% growth, and 167,255 new wallets were created. Solana now accounts for 76% of all new tokens listed on DEXs, surpassing Base as the market leader. The total stablecoin market cap on Solana has also increased by 22%, reaching $4.4 billion. Solana's dominance in DEX volume is further highlighted by its 50% share of the 24-hour DEX volume, outperforming both Ethereum and BNB Chain combined. Last week, Solana processed 218 million transactions and $7.7 billion of DEX volume. Solana's active wallet addresses are 250% more than Ethereum's and 371% more than BSC's.