đ¨ Solana Shatters Records: DEX Trading Volume Hits $41 Billion â Outpacing Bitcoin! đ¨
Is Solana Stealing Bitcoinâs Thunder?
Solana (SOL) has taken the crypto world by storm, outperforming Bitcoin (BTC) with record-breaking activity on decentralized exchanges (DEXs). The SOL/BTC ratio has broken out of an eight-month consolidation, signaling a major bullish trend.
Key Highlights
1. Bullish SOL/BTC Breakout
Momentum Shift: SOL/BTC climbed 1% last week, marking the end of a prolonged battle between bulls and bears.MACD Confirmation: The MACD histogram crossing above zero confirms a bullish trend, hinting at sustained upward momentum.
2. Record DEX Trading Volumes
Solana-based DEXs hit a staggering $41.6 billion in weekly volume, more than doubling the previous weekâs activity and leaving competitors in the dust:
Ethereum: $14.3 billionBase & BSC: Over $11 billion each
This surge highlights Solanaâs growing appeal, particularly among retail investors trading memecoins.
3. Fee Revenue Leader
Despite its low-cost reputation, Solana is competing head-to-head with Ethereum in fee revenue:
Solana DEXs (Raydium): $72.83 millionEthereum: $67 millionBitcoin: $15 million
Solanaâs efficient and affordable transactions are solidifying its position as a leader in decentralized trading.
Why Solana Is Outperforming Bitcoin
Higher Activity Levels: Solanaâs trading volumes on DEXs now surpass those of Ethereum, Base, and Binance Smart Chain combined.Rising Retail Interest: Memecoins and fast transactions make Solana a favorite for small-scale traders.Competitive Fees: Its ability to generate significant fee revenue, even with lower transaction costs, highlights its efficiency.
#XRPPriceAction #Write2Earn! #ETHETFsApproved #Megadrop #SolanaUSTD