Solana surpassed Ethereum in terms of trading volume on DEX
-- From July 7 to July 14, 2024, the DEX trading volume on the Solana network was $13.3 billion.
-- That's more than Ethereum had over the same period.
-- Among platforms, the leader in TVL is the Raydium exchange.
Between July 7 and July 14, 2024, trading volume on decentralized exchanges (DEX) on the Solana network was $13.3 billion, according to DeFiLlama. Blockchain surpassed Ethereum in this indicator.
On the monthly chart, Solana is also in the lead with $25 billion. Ethereum is in second place at $23.3 billion, with Binance Smart Chain (BSC) in third at $13.8 billion.
In the last 24 hours alone, the trading volume on decentralized exchanges in the Solana network reached $2.02 billion. The total blocked assets (TVL) of these platforms reached $1.8 billion.
The leader among DEXs in this ecosystem is the Raydium exchange. Its TVL is almost $1 billion.
The increase in the index coincided with a general increase in online activity. The seven-day moving average (7DMA) of active addresses in Solana through July 2024 is in the range of 1.5 million.
Despite some downward adjustments, this is well above the late April and early May 2024 figures.
Notably, meanwhile, transaction volume in stablecoins on the network has fallen to a new low since November 2023, according to data from aggregator Artemis.