Solana’s DEX volume is so awesome! It’s overtaking Ethereum 😅😅

According to recent data, Solana has managed to surpass Ethereum in 24-hour daily volume on decentralized exchanges.

The two popular blockchains have DEX volumes of $1.3 billion and $1.29 billion, respectively.

BSC is in third place with $604 million in DEX volume

Arbitrum and Base are fourth and fifth after generating $510 million and $286 million in DEX volume, respectively.

Another flip?

It’s also worth noting that Solana’s total fees are now 50% of Ethereum’s fees over the past few days. In comparison, during the 2021 bull run, this ratio was just 1%.

Some analysts expect Solana to flip Ethereum’s fees this month, which would be a major development for the cryptocurrency ecosystem. However, it’s worth noting that the capital shift towards layer 2 solutions is one of the reasons for this dynamic change.

Solana surges 6%

The price of the SOL cryptocurrency has surged by more than 6% in the past 24 hours, making it one of the best performing altcoins. The token is currently changing hands at $154 on major spot exchanges. Its market capitalization is currently $68 billion.

In comparison, ETH is currently up slightly by 1.23%. However, with its $365 billion valuation, it still dwarfs Solana.

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