Solana has overtaken Ethereum in daily decentralized exchange (DEX) trading volume, according to recent data from DefiLlama. Solana-based DEXes reported $1.148 billion in daily trading volume, outpacing Ethereum’s $736.62 million.
Several Solana platforms, including Raydium, Meteora, Orca, Phoenix, and Lifinity, now rank among the top 10 DEXes by daily trading volume. Uniswap and PancakeSwap continue to lead the market overall.
Patrick Scott, founder of Dynamo DeFi, reports that Solana’s DEX volume dominance is approaching 25% for the first time this June. This increase is partly attributed to the popularity of meme coins on the Solana network earlier this year.
Despite the recent trading volume success, Solana’s price has experienced a slight 0.5% decrease over the last 24 hours. According to CoinMarketCap, Solana currently holds the fifth position in cryptocurrency market capitalization at $65.2 billion, following Bitcoin, Ethereum, Tether, and BNB.
The total DEX volume across all platforms reached $26 billion in the past seven days, according to Dune Analytics, underscoring the growing importance of decentralized trading in the crypto ecosystem.
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