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📌 Solana overtakes Ethereum in DEX volume: will Ethereum experience a decline?

Home  Altcoins  Solana (SOL)  Solana overtakes Ethereum DEX in volume: will Ethereum go down? Solana

– Home ” Altcoins ” Solana (SOL) ” Solana overtakes Ethereum DEX in volume: will Ethereum go down?

Solana overtakes Ethereum DEX in trading volume: will Ethereum fall?

Solana has temporarily overtaken Ethereum in trading volume on DEX thanks to lower fees and faster transactions.

The green horse and the blue horse are chasing each other.

Solana’s trading volume on DEX reached $1.3 billion, temporarily overtaking Ethereum.

Ethereum is quickly regaining the lead in trading volume on DEX.

Memecoin trading contributes to the temporary increase in Solana trading volume.

Ethereum has long been a leader in decentralized finance (DeFi) due to its early startup and network effects. Recently, however, Solana has seen its own growth in this area, helped by low fees and a developer-friendly environment.

Last week, Solana once again surpassed Ethereum’s trading volume on decentralized exchanges (DEX), leading investors to question Ethereum’s long-term prospects.

On Friday, May 10, Solana briefly surpassed Ethereum in trading volume on the DEX, recording $1.3 billion in trading volume compared to Ethereum’s $1.29 billion. This turnaround was mainly due to the renewed interest in Mimcoin, which led to an increase in trading activity on Solana.

Solana has attracted a large community of Mimcoin enthusiasts in recent months. Since its launch, tokens such as Bonk and DogWifHat have increased in value by 1000% .

As noted in a recent Franklin Templeton analysis, the “air drop” of meme coins has attracted significant community attention. It has also created a significant wealth effect, generating additional interest.

Bulls are ready to run with gold crypto coins.

Two smiling men with cell phones and a bubble with a percentage symbol in the background of a modern 3D illustration of a mountain.

Bitcoin

Bitcoin

$67,797.92

BTC -0.44%

Ethereum

Ethereum

$3,798.15

ETH -1.94%

Binance Coin

Binance Coin

$598.69

BNB -0.15%

XRP

XRP

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XRP -0.23%

Dogecoin

Dogecoin

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DOGE -0.01%

Cardano

Cardano

$0.46

ADA 0.18%

Solana

Solana

$169.02

SOL 0.86%