Solana Outshines Ethereum Again: DEX Volume Hits $3.99 Billion 💸💰

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Move over, Ethereum! Solana’s been stealing the spotlight again with its DEX volume hitting a whopping $3.99 billion in the past 24 hours. 😱 Meanwhile, Ethereum’s volume was a measly $3.35 billion. 😴

Solana takes the lead, again 🥇

Despite Ethereum’s 29.24% rally, Solana’s still dominating the DEX volume game. But let’s be real, it’s not a competition, it’s a crypto-drama! 🍿

Over the past week, Solana’s DEX volume hit $19.34 billion, while Ethereum recorded $23.87 billion. But on the monthly front, Solana took the lead with more than $112.7 billion, while Ethereum recorded a little over $87 billion. 📈

The rivalry between Solana and Ethereum takes different forms at different times. 🤼‍♂️ But hey, who doesn’t love a little friendly competition? 🏆

As reported earlier by U.Today, Solana outpaced Ethereum in transaction fees in mid-February, a time when the market experienced shifting sentiment. 💸

ETF to even out differences 💸

Despite the uptick in the Solana and Ethereum DEX metrics, Ethereum is still the dominant chain per overall DeFi Total Value Locked (TVL). The Ethereum TVL per DeFiLlama comes in at $53.679 billion, as against Solana’s $7.09 billion. 💰

But don’t worry, Solana fans! The prospective approval of a spot SOL ETF product by the United States Securities and Exchange (SEC) can make all the difference in giving the coin more of an advantage over Ethereum. 🚀

The Ethereum ETF launched last year and currently boasts a total AUM of over $2.8 billion, per Farside Investors data. With a Solana ETF, the argument that institutional funds will enter the coin is high, boosting its core growth metrics. 📈

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2025-03-03 18:26