Solana Surpasses Ethereum and Base in 24-Hour DEX Trading Volume with $3.982 Billion

COINOTAG reported on January 7th that recent metrics from DefiLlama indicate a significant shift in the decentralized trading landscape. The Solana blockchain has registered a remarkable 24-hour DEX trading volume that eclipses that of both Ethereum and Base. Specifically, Solana-based DEX platforms achieved a notable trading volume of $3.982 billion, outpacing the $1.706 billion recorded by Ethereum-based DEXs. Furthermore, the DEX activity on Ethereum’s Layer 2 network Base captured a volume of $1.207 billion. This unprecedented surge in Solana’s DEX activity underscores its growing prominence and challenges the traditional dominance of Ethereum in the decentralized exchange market. As traders increasingly migrate to Solana, it raises questions about the future dynamics of liquidity and trading strategies within decentralized finance.