Solana’s Dex volume emerged at $ 60m as it seems to expand 4 -month winning streak in Ethereum
Solana is on track to expand four-month running in Ethereum and other smart-contract blockchains to Decentralized-Exchange (DEX) Volume even the rangbound crypto markets struggle to get the entrepreneur’s enthusiasm.
Solana-based DEXs posted a total trading volume of over $ 60 million this month, nearly twice $ 34 million in Ethereum, the largest smart-contract blockchain, according to the data resource Delete.
“Solana’s lower paid and higher throughput continue to attract developers and users, featuring its growing role in decentralized finances,” Tagus Capital said.
Solana has made the pole position since October. Interestingly, in January, Solana based in Solana achieved a number of $ 258 billion with Ethereum with just $ 86 billion.
Solana’s dominance, powered by Frenzied Memecoin Trading, is not limited to the volume of transactions. Despite its reputation as a cheap blockchain, Solana formed $ 25 million In revenue until this month compared to Ethereum’s $ 16 million. In January, Solana scored $ 124 million, Ethereum $ 109 million.
Performance supports the bullish case in the Sol-eth ratio, which sank near 0.09 in January and since returning to 0.075, data from the charting platform tradingview show.
However, Tagus Capital noted that the total amount of Solana locked (TVL) at $ 9 billion remains less than Ethereum’s $ 57 billion.
