Solana surpasses Ethereum in terms of daily trading volume

The blockchain platform from Ukrainian developer Solana has surpassed Ethereum in terms of 24-hour trading volume. This happened on all decentralized exchanges (DEX) at once.

It is reported that on Sunday, November 17, Solana recorded a trading volume of $ 6.24 billion, while Ethereum reached $ 850 million.

The leader among Solana-based DEXes is Raydium with a trading volume of $ 4.2 billion.

For comparison, Uniswap, the largest DEX on the Ethereum blockchain, recorded a trading volume of $ 1.52 billion.

Two other Solana-based DEXes, Orca and Aerodrome Finance, also made it to the top 5 in terms of trading volume, with $ 1.07 billion and $ 712 million, respectively. In total, Solana has five decentralized exchanges with a trading volume of more than $ 100 million.

It is worth adding that the SOL token has recently rejoined the prestigious club with a capitalization of over $ 100 billion. Currently, its market capitalization is $ 116 billion after an 18% increase over the past 7 days.

At the time of writing, Solana’s share price reached $ 240.97, its market capitalization is $ 114.36 billion, and daily sales have stopped at $ 8.05 billion.

At the same time, Ethereum (ETH), which has a capitalization of $ 380 billion, showed a modest increase of 0.5% over the same period.

At the time of writing, Ethereum’s price reached $ 3.089, its market capitalization is $ 372.03 billion, and daily sales have stopped at $ 27.37 billion.

It is worth emphasizing that Solana’s growing dominant position in the DEX market indicates significant changes in the blockchain ecosystem. In particular, due to its user-friendliness and high performance.

Solana has recently made a significant breakthrough, surpassing the resistance level of $ 201, which had been held for eight months. Reaching a market capitalization of $ 100 billion, Solana became the fourth cryptocurrency with such a valuation on the market.