๐ SOLANA DOMINATES DEX VOLUME FOR 16 CONSECUTIVE WEEKS
1. ๐ Trading Liquidity Dominance
This dominance has been spectacular: at the end of 2024, Solanaโs DEX volume was only 48.85% of Ethereumโs, but has since skyrocketed to 168%
In some periods, Solana even overtook Ethereum in terms of protocol revenue, despite much lower transaction fees
2. โ๏ธ Reasons for This Domination
Speed โโ& Cost: Solana offers fast processing speeds and extremely low transaction fees (as low as $0.00025 USD/transaction). This attracts a large number of retail users and speculative traders
The Memecoin Boom: A large part of this trading volume is related to the explosion of Memecoin trading activity and the emergence of exchanges optimized for newly launched tokens such as PumpSwap
Decentralized Liquidity: Unlike Ethereum, where Uniswap has a near monopoly, the DEX market on Solana is more decentralized, showing competition and excitement among multiple platforms such as Raydium, Orca, Jupiter
