In keeping with information supplied by DefiLlama, Solana has managed to destroy Ethereum in each 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 prime 10 DEXes by each 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 truth, it’s on monitor to surpass the 25% stage for the primary time this June.
General, DEX quantity has hit $26 billion over the previous seven days, in keeping with information supplied 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.At present, New York-based funding agency VanEck filed to launch an ETF for Solana on Thursday; 21Shares adopted go well with 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 accepted 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 keeping with information supplied by CoinGecko. This places it within the fifth place by market capitalization (behind solely Bitcoin, Ethereum, Tether and BNB).
