News Explorer — Solana-Based Decentralized Exchanges Saw More Trading Volume than Ethereum—Briefly

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Jan 29, 5:36 pm

Decrypt

Solana-Based Decentralized Exchanges Saw More Trading Volume than Ethereum—Briefly

Solana-based decentralized exchanges (DEXes) briefly surpassed Ethereum exchanges in terms of 24-hour trading volume, with Solana recording $705 million compared to Ethereum's $698 million. While Ethereum maintains a lead in seven-day volume, Solana's cheaper and faster transactions are putting pressure on Ethereum. The recent surge in Solana's trading volume can be attributed to the upcoming launch of JUP, the official token of the Solana decentralized exchange aggregator Jupiter.

Solana-based decentralized exchanges (DEXes) briefly surpassed Ethereum exchanges in terms of 24-hour trading volume, with Solana recording $705 million compared to Ethereum's $698 million. While Ethereum maintains a lead in seven-day volume, Solana's cheaper and faster transactions are putting pressure on Ethereum. The recent surge in Solana's trading volume can be attributed to the upcoming launch of JUP, the official token of the Solana decentralized exchange aggregator Jupiter.

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