Bullish on-chain indicators, SOL's DEX dominance, volume, and protocol income support the Solana-Ethereum dispute. Solana reached a record high versus Ethereum on November 18 at 0.07977.

In November 2024, Solana's protocol fees, a modest proportion of transaction value charged to sustain and enable blockchain trading, were roughly double that of Ethereum.

According to statistics from Tuesday, November 19, Solana has received $343.96 million in protocol fees compared to Ethereum's $178.65. Protocol fees boost blockchain project income once liquidity providers are paid.

Solana DEX volume is $77,51 billion vs. $38,81 billion for Ethereum. Solana was $52.5 billion in October, while Ethereum was $41.4 billion.

More DEX volume means more usefulness and acceptance of one chain over another. The enormous amount of new Pump.fun projects launched on DEXes like Raydium after reaching a threshold has made Solana popular with traders on decentralized exchanges.