"Solana (SOL) Based DEXs Maintain Competitive Position with Ethereum (ETH) Despite Meme Coin Decline"
JH Kim
Summary
- According to VanEck's recent report, trading volume on Solana (SOL) based decentralized exchanges (DEXs) is maintaining a competitive position with the Ethereum (ETH) ecosystem.
- The report revealed that in March, Solana DEXs had a market share of 30%, which is not significantly different from Ethereum DEXs' market share.
- VanEck noted that Solana DEXs are continuously growing based on high transaction speeds and low fees, which is noteworthy.
According to cryptocurrency media Cointelegraph on the 6th (local time), VanEck analyzed in a recent report that "trading volume on Solana (SOL) based decentralized exchanges (DEXs) is still maintaining a competitive position with the Ethereum (ETH) ecosystem despite the decline in the meme coin market."
According to the report, Solana-based DEXs held a market share of 30% in March, which is not significantly different from the market share (40%) of ETH-based DEXs.
VanEck evaluated that "Solana DEXs continue to grow based on high transaction speeds and low fees," adding that "it is noteworthy that they are not falling behind in competition with Ethereum despite the meme coin boom cooling down."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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