👍👍Unexpected development in Solana: It has left Ethereum behind

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The Solana chain has performed remarkably well, leaving Ethereum behind in terms of 24-hour trading volume recorded on decentralized exchanges. On Sunday, Solana achieved a total trading volume of $6.24 billion, while Ethereum only had $850 million.

A large part of this strong performance was due to Solana-based automated market maker Raydium. Raydium topped the list with a 24-hour trading volume of $4.2 billion. In contrast, Ethereum’s largest decentralized exchange, Uniswap, recorded a trading volume of $1.52 billion during the same period. In addition to Raydium, Solana’s other popular decentralized exchanges, Orca and Aerodrome Finance, also made it into the top five with trading volumes of $1.07 billion and $712 million, respectively. In total, five different Solana-based exchanges have attracted attention by reaching over $100 million in daily trading volume.

Solana has surpassed Ethereum and all its solutions combined in DEX trading volume. This success comes as a result of Solana’s emphasis on applications and user experience. Cryptocurrency educator Cygaar explained the reason behind Solana’s success as follows: “The main reason for Solana’s success is its focus on applications and user experience. While Ethereum’s culture is still focused on infrastructure, users want practical and realistic applications rather than technical terms.”

With this strong performance, Solana’s native token SOL has once again raised its market value above $100 billion and is currently valued at $116 billion. Ethereum, on the other hand, recorded a small increase of 0.5% with a market value of $380 billion.

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