Solana’s DEX Hits $60M in Volume, Targeting a 4-Month Victory Over Ethereum.

Solana Outpaces Ethereum in DEX Trading Volume, Solidifying Bullish Case for SOL-ETH Ratio

Solana is poised to extend its dominance over Ethereum in decentralized exchange (DEX) trading volume, maintaining its leadership streak for the fourth consecutive month, even as the broader crypto market experiences limited momentum.

Solana-based DEXs have recorded over $60 million in trading volume this month, nearly doubling Ethereum’s $34 million, according to data from DeFiLlama. Solana’s cost-effectiveness, with low transaction fees and high throughput, continues to attract a growing user base and developers, according to Tagus Capital.

Since October, Solana has maintained its top position, with January seeing a surge to $258 billion in trading volume from Solana-based DEXs, compared to Ethereum’s $86 billion.

Beyond transaction volume, Solana has also outperformed Ethereum in terms of revenue, generating $25 million so far this month compared to Ethereum’s $16 million. In January, Solana earned $124 million, while Ethereum’s revenue stood at $109 million.

This performance reinforces the bullish outlook for the SOL-ETH ratio, which reached a peak of 0.09 in January before settling back to 0.075, according to TradingView data.

However, despite its success, Solana’s total value locked (TVL) at $9 billion is still a far cry from Ethereum’s $57 billion, highlighting a key area where Ethereum continues to dominate.