Solana Outshines Ethereum, Achieving Over 5 Billion DEX Transactions in the Last 3 Months
Solana surpasses Ethereum with over 5 billion DEX transactions and 344 million active addresses in the past three months, highlighting its growing dominance in the blockchain space.
Solana has made a remarkable leap forward, outpacing Ethereum in several crucial areas over the last three months. According to data from Dune Analytics, Solana has achieved over 5 billion decentralized exchange (DEX) transactions, with a staggering $1.9 trillion in transaction volume. In comparison, Ethereum generated 1.138 billion transactions, with DEX transaction volume totaling $504.83 billion during the same period.
The growing adoption of Solana is further reflected in the increase in active addresses, which reached 344 million—five times more than Ethereum’s 82.56 million active addresses. This data, which also includes metrics from Ethereum's Layer 2 chains like Arbitrum, Polygon zkEVM, and others, shows the significant traction Solana has gained in terms of user engagement and transaction activity.
Despite Solana’s impressive performance, Ethereum still leads in the total value locked (TVL) category, holding $64.47 billion in TVL compared to Solana’s $11.38 billion. However, Solana's fast and affordable transaction capabilities continue to make it a formidable competitor in the space, with many speculating that it could challenge Ethereum for dominance.
As Solana's transaction volume continues to grow, coupled with the anticipation of a potential Solana ETF approval, it’s clear that the blockchain is on an upward trajectory. If these trends continue, Solana could soon establish itself as a serious contender in the blockchain race, potentially outpacing Ethereum in more areas.
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