Ethereum Decentralized Exchanges Surpass Solana in Trading Volume
Ethereum-based decentralized exchanges have outperformed Solana in trading volume for the first time since April, driven by significant institutional interest and a surge in ETF inflows.
Ethereum Decentralized Exchanges Surpass Solana in Trading Volume
Ethereum-based decentralized exchanges have overtaken Solana in trading volume for the first time since April, registering $24.5 billion in trades in the last 48 hours compared to Solana’s $10 billion. This notable shift is largely due to heightened institutional interest in Ether and a wave of ETF inflows.
Key Highlights:
- The latest figures represent a dramatic turnaround from earlier this year when Solana dominated trading, largely thanks to memecoins. Recently, the declining popularity of SOL has followed a significant crash in the TRUMP memecoin that affected investor confidence.
- Uniswap continues to lead Ethereum DEX trading, accounting for $8.6 billion over the past 24 hours. Additionally, staking tokens associated with Ethereum, like Lido’s LDO, saw a notable 65% rise this week following positive guidance from the SEC.
What’s Next? Following months of lucrative trading activity, the recent surge in institutional interest could hold promising prospects for Ethereum and its various staking tokens. If this trend persists, it may lead to even greater market shifts in the coming weeks.
