The blockchain platform from the Ukrainian developer Solana surpassed Ethereum in terms of 24-hour trading volume. This happened at once on all decentralized exchanges (DEX).
It is reported that on Sunday, November 17, Solana recorded a trading volume of $6.24 billion, while Ethereum reached $850 million.
The leader among Solana-based DEXs is Raydium with a trading volume of $4.2 billion.
In comparison, Uniswap, the largest DEX on the Ethereum blockchain, recorded a trading volume of $1.52 billion.
Two other Solana-based DEXs — Orca and Aerodrome Finance — also entered the top 5 by trading volume, with volumes of $1.07 billion and $712 million, respectively. In total, Solana has five decentralized exchanges with a trading volume of more than $100 million.
It is worth adding that the SOL token recently rejoined the prestigious club with a capitalization of more than $100 billion. It currently has a market capitalization of $116 billion after an 18% increase in the last 7 days.
At the time of writing, Solana's price reached $240.97, the market capitalization is $114.36 billion, and daily sales stood at $8.05 billion.
Photo: coinmarketcap.com/
At the same time, Ethereum (ETH), which has a capitalization of $380 billion, showed a modest increase of 0.5% during the same period.
At the time of writing, the Ethereum price reached $3.089, the market capitalization is $372.03 billion, and the daily sales stopped at $27.37 billion.
Photo: coinmarketcap.com/
It is worth emphasizing that Solana's growing dominant position in the DEX market indicates significant changes in the blockchain ecosystem. In particular, due to its user-friendliness and high performance.
It will be recalled that Solana recently made a significant breakthrough, surpassing the resistance level of $201, which was held for eight months. Reaching a market capitalization of $100 billion, Solana became the fourth cryptocurrency with such a valuation on the market.
