According to BlockBeats, Solana decentralized exchanges (DEX) have seen a significant increase in trading volume. For the first time in 43 days, the weekly trading volume on Solana DEX has surpassed that of Ethereum. Over the past seven days, Solana DEX recorded a trading volume of $91.12 billion, while Ethereum DEX registered $90.94 billion.
This development marks a notable shift in the decentralized finance (DeFi) landscape, highlighting Solana's growing influence and adoption in the market. The increase in trading volume on Solana DEX can be attributed to its high-speed transactions and lower fees compared to Ethereum, which has faced congestion and higher gas fees.
The competition between Solana and Ethereum in the DeFi space is intensifying, with both platforms striving to offer better services and attract more users. As Solana continues to gain traction, it will be interesting to observe how this rivalry evolves and impacts the broader cryptocurrency market.
