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Solana trading volumes briefly topped the entire Ethereum ecosystem’s in February.
Solana’s decentralized exchange (DEX) volumes still rival those of the entire Ethereum ecosystem despite a steep dropoff in memecoin trading activity, asset manager VanEck said.
In February, Solana’s share of total onchain DEX volume topped 43%, briefly surpassing the combined DEX volume of Ethereum and its layer-2 scaling networks, according to a March 5 report by VanEck.
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They declined to around 30% in March, slightly below the Ethereum ecosystem’s roughly 40% share, the data shows.