Solana Surpasses Ethereum in DEX Volume, Hits $1.123 Billion with 23% Dominance

Sep 26, 2024, 03:33 PM

Solana has recently achieved significant milestones in the blockchain space. Over the past 24 hours, Solana surpassed Ethereum in decentralized exchange (DEX) volume, hitting $1.123 billion and reclaiming the top spot with a 23% dominance. Despite a recent 8.5% drop in total value locked (TVL) for Solana DApps, the open-source blockchain known for its scalability and low transaction fees continues to show strength in other metrics. Additionally, Solana has seen substantial net inflows, totaling $988 million over the last three months, and continues to dominate in daily active users and addresses, boasting 9 times and 10 times more than Ethereum, respectively. The price of Solana's native token, $SOL, has surged back above $157, reclaiming a market cap of $73 billion.