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- Solana DEXs signedup a greater trading volume than their Ethereum equivalents in July
- This is the veryfirst time Solana DEXs’ regularmonthly trading volume increased above that of Ethereum DEXs
- Trading volume on Solana DEXs stayed above that of their Ethereum equivalents for 17 days in July
Solana-based decentralized exchanges (DEXs) processed deals worth close to $57 billion in July which was greater than the $54 billion signedup by their equivalents on the Ethereum blockchain. Solana DEXs led Ethereum DEXs for 17 days out of the 31 days of July, a veryfirst in the 2 platforms’ history. According to DeFiLlama, Solana DEXs accounted for 30% of all DeFi trading volume in July with Ethereum accounting for 28%, suggesting that DeFi users thinkabout Solana a feasible Ethereum rival.
Solana Leads by $3 Billion
Although the portion distinction inbetween Solana and Ethereum DEX trading volume was around 2%, the distinction in trading volume was approximately $3 billion.
Ethereum, nevertheless, leads in overall worth locked on all chains accounting for close to 60% versus Solana’s TVL of approximately