Solana has surpassed Ethereum in 24-hour trading volume, with its dex platform reaching $2.802 billion in trading volume, demonstrating its growing dominance in the decentralized exchange market.
This week, the value of SOL has experienced a significant increase, boosting the decentralized exchange (dex) platform and pushing the layer one (L1) blockchain to the leading position in 24-hour dex trading volume. Solana dex platform has raised $2,000,000.
Dex Domination: Solana Surpasses Ethereum in 24-Hour Trading Volume
802 billion in trading volume over the past day, outperforming dex platform Ethereum, which has recorded $2.03 billion in the same time frame On Monday, March 18, 2023, the Solana (SOL) blockchain emerged as a pioneer in decentralized exchange (dex) trading volume ) over the past day, with the dex reaching $2.802 billion in global trading volume.
This represents a 38% increase from Ethereum's daily volume of $2.03 billion. However, on a weekly basis, it ranks second after Ethereum, with $19.746 billion versus Solana's $17.151 billion. Recently, SOL's value has surged, crossing the $200 mark for the first time since December 2021 and exceeding BNB's market cap. according to defillama.com
dex volume across chains on Monday reached approximately $8.614 billion. While Uniswap and Pancakeswap led the way as the top two dex platforms on March 18, Solana's Orca, Phoenix, Lifinity, and Raydium took the third to sixth spots, while Solana's dex app had $1.
248 billion locked, total value locked (TVL) in Ethereum dexes was around $3.255 billion this week. Solana is ranked the fourth largest chain by TVL in decentralized finance, with $4.325 billion locked in its protocol, trailing behind Ethereum, Tron, and BNB Chain.
What do you think about the Solana dex platform recording significant volume on Monday? Share your thoughts and opinions on this topic in the comments section below.
