Solana DEX Volume Hits 18-Month Low
Recent on-chain data shows a notable shift in market liquidity as trading activity moves between ecosystems.
The Data:
* Solana: DEX volume fell to $55.5B, the lowest level since September 2024. Network fees followed, dropping 42%.
* Ethereum: Market share rose from 33% to 42% between January and March, driven by the growth of Layer 2 (L2) solutions.
The Insight:
Capital is currently rotating from Solana into Ethereum infrastructure. In technical terms, when volume declines during a price rally, it often signals distribution (selling) rather than long-term accumulation.
Summary:
Monitoring network fees and DEX volume remains the most reliable way to confirm where liquidity is migrating in real-time.