Solana's DEX Volume Surges, Nears Ethereum's Dominance
Solana's decentralized exchange (DEX) volume has surged to 28.5%, bringing it closer to Ethereum's dominance at 36.1%. Solana's growth in DEX volumes has been impressive, with the network accounting for only 1.1% of the market share a year ago. Solana-based DEXs like Jupiter, Orca, Raydium, and Phoenix have attracted massive traffic and driven significant trading volumes. However, the surge in volume on Solana has also led to intermittent suspension of withdrawals on the network, and it remains to be seen if Ethereum's upcoming upgrades will give it more leverage on the DEX volume against Solana.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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