Ethereum DEX Volumes Reach $24.5 Billion, Surpassing Solana’s $10 Billion
Decentralized exchange (DEX) volumes on Ethereum surpassed Solana for the first time since April, driven by a shift in investor sentiment towards ether amid increased institutional activity.
- Ethereum-based DEXs recorded $24.5 billion in trading volume over 48 hours, compared to Solana's $10 billion, according to DefiLlama.
- In the previous two weeks, Ethereum's total was $28 billion and $27 billion, outpacing Solana's $20 billion and $24 billion.
- Institutional flows into spot ether ETFs have contributed to a 53% increase in ether's price this month, reaching $4,680.
- Monday saw net inflows to ETFs exceed $1 billion, followed by an additional $523 million on Tuesday.
- Solana's DEX volumes peaked at $98 billion in January but declined sharply after the launch of a memecoin that lost over 88% of its value.
- Uniswap remains the leading DEX on Ethereum with $8.6 billion traded in the past 24 hours; Fluid follows with over $1 billion.
- Ethereum-based staking tokens like LDO have risen by 65% in the past week after SEC clarifications.
