Solana’s DEX Volume Soars Past Ethereum: Is the SOL-ETH Ratio About to Explode?

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Here’s the scoop:

  • Solana’s DEX ecosystem has been raking in the dough, with a whopping $60 million in trading volume this month – nearly double Ethereum‘s! 🤑
  • Solana is earning more than Ethereum, and the data backs up the bullish case in the SOL–ETH ratio. 📈
  • Tagus Capital says Solana’s lower fees and higher throughput are attracting developers and users, highlighting its growing role in decentralized finance. 💸

Solana is on track to extend its four-month run over Ethereum and other smart-contract blockchains in decentralized-exchange (DEX) volume. Despite the rangebound crypto market, Solana-based DEXs have posted total trading volume of just over $60 million this month, nearly double the $34 million on Ethereum, according to data source DeFiLlama.

“Solana’s lower fees and higher throughput continue to attract developers and users, highlighting its growing role in decentralized finance,” Tagus Capital said. 💡

Solana has held its pole position since October. In January, Solana-based DEXs achieved trading volume of $258 billion with Ethereum trailing at just $86 billion. 🏆

Despite its reputation as a low-cost blockchain, Solana has generated $25 million in revenue so far this month compared with Ethereum’s $16 million. In January, Solana earned $124 million, Ethereum $109 million. 💰

The performance supports the bullish case in the SOL-ETH ratio, which peaked near 0.09 in January and has since pulled back to 0.075, data from charting platform TradingView show. 📊

Still, Tagus Capital noted that Solana’s total value locked (TVL) at $9 billion remains much lower than Ethereum’s $57 billion. 📉

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2025-02-11 13:15