In keeping with information offered by DefiLlama, Solana has managed to destroy Ethereum in every day DEX buying and selling quantity ($1.148 billion and $745 million, respectively).
Solana-based Raydium, Meteora, Orca, Phoenix and Lifinity are among the many high 10 DEXes by every day buying and selling quantity. Uniswap and PancakeSwap, after all, stay within the lead.
As famous by Patrick Scott, the founding father of Dynamo DeFi, Solana’s DEX quantity dominance can be on the rise. In actual fact, it’s on observe to surpass the 25% degree for the primary time this June.
General, DEX quantity has hit $26 billion over the previous seven days, in line with information offered by Dune Analytics.
Earlier this yr, buying and selling on Solana-based DEXex spiked because of the rising reputation of meme cash.
SOL summer time?
This comes because the “Ethereum killer” is benefiting from growing ETF buzz. As reported by U.Right now, New York-based funding agency VanEck filed to launch an ETF for Solana on Thursday; 21Shares adopted swimsuit with its personal submitting for the red-hot altcoin on Friday.
Nevertheless, those that anticipate this ETF to see the sunshine within the close to future ought to cool their jets. In keeping with main analysts within the area, the product is now anticipated to be authorised this yr.
After initially seeing a pointy value spike because of the ETF hype, the SOL value is presently within the pink, slipping by 0.2% over the previous two weeks.
The favored altcoin is presently valued at $65.2 billion, in line with information offered by CoinGecko. This places it within the fifth place by market capitalization (behind solely Bitcoin, Ethereum, Tether and BNB).