**Solana Surges in DeFi Scene**

Solana's decentralized exchanges (DEXs) have outpaced Ethereum and Base in 24-hour trading volume, hitting nearly $3.8 billion, according to DefiLlama. This surge highlights Solana's growing influence in decentralized finance (DeFi) as it challenges Ethereum's dominance.

Solana's total value locked (TVL) has skyrocketed, rising from $1.4 billion to over $9.5 billion in 2024. Retail traders are flocking to Solana, driven by speculation around memecoins and AI tokens.

Raydium, Solana's top DEX, saw trading volumes soar, surpassing Ethereum's Uniswap in November. Memecoin trading has been a significant contributor to this growth.