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In the ever-changing world of cryptocurrencies, the order of platform supremacy seems to be established. But that’s regardless of the arrival of new players. In fact, he seems to be challenging that order at the moment. Such is the case with Solana (SOL), which just dethroned Ethereum (ETH) in terms of DEX volume.
Solana has dethroned Ethereum in terms of DEX trading volume
Coming in 2020, the Solana crypto platform stands out for its transaction speed and low fees. What makes it special attractive to DeFi users. This crypto blockchain has been experiencing exponential growth in recent months, attracting many investors and developers.
According to recent data, DEX trade volume on Solana does reached 1.3 billion dollars. For the first time, this volume exceeds that of Ethereum, which is $1.29 billion. This remarkable performance represents a turning point in the competition between the two crypto platforms. It indicates the potential of Solana to establish itself as a promising alternative to Ethereum.
Solana: The Growing Crypto Ecosystem
In addition to Solana DEX trade volume, transaction fees have also increased. The latter achieved 50% of the fees generated in the Ethereum crypto network recently. Analysts also predict that before long transaction fees on the Solana network could surpass those of Ethereum.
Speaking of increases, the price of SOL is not left out either. It rose more than 6% in 24 hours. This situation moves Solana to the position of the best performing altcoins in the crypto market.
A new order is emerging in the world of cryptocurrencies
Solan’s outpacing of DEX trading volume against Ethereum is a strong signal of its potential to become a major player in the DeFi space. Its speed, low fees, growing ecosystem and innovative technologies make Solano an attractive alternative for users and developers.
Although Ethereum maintains its dominance in terms of market capitalization, Solana is now positioning itself as a serious competitor, ready to shake up the established cryptographic order.
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My name is Ariela and I am 31 years old. I have been working in the field of web development for 7 years. I only discovered trading and cryptocurrencies a few years ago. But it’s the universe that interests me a lot. And the topics covered within the platform allow me to learn more. A singer in my spare time, I also have a great passion for music and reading (and animals!)
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.
