Solana and Ethereum Match Trading Volumes on DEX

Solana's DEX trading volumes fall to 94% of Ethereum's, the lowest in 12 months.

Trading volumes on decentralized exchanges within the Solana network have fallen to 94% compared to Ethereum’s figures. This marks the lowest level in the past 12 months.

For comparison, in January, the “people’s cryptocurrency” blockchain reached a peak of 218%.

Both networks handle approximately $45 billion in monthly trading volume.

Ethereum has maintained its position thanks to deep liquidity and the stability of the DeFi sector, which is less dependent on speculative demand.

Solana targets retail users with low fees and high speed. Its growth is typically linked to the hype around meme coins and AI tokens. 

Ethereum’s advantages include the influx of institutional capital and a high TVL.

The supply volume of stablecoins on Solana shows an upward trend. At the time of writing, the figure stands at $15.44 billion, while in the leading altcoin network, it is $165 billion.

Ethereum still holds the lead in the total value of circulating stablecoins. However, Solana’s growth rates indicate increasing competition between the first-level networks.

Back in April, activity in Ethereum reached a new high. The 100-day moving average of this indicator hit a record at 587,000.