{"id":15770,"date":"2024-08-01T18:52:53","date_gmt":"2024-08-01T15:52:53","guid":{"rendered":"https:\/\/forklog.com\/en\/solana-surpasses-ethereum-in-monthly-dex-trading-volume\/"},"modified":"2024-08-01T18:52:53","modified_gmt":"2024-08-01T15:52:53","slug":"solana-surpasses-ethereum-in-monthly-dex-trading-volume","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/solana-surpasses-ethereum-in-monthly-dex-trading-volume\/","title":{"rendered":"Solana Surpasses Ethereum in Monthly DEX Trading Volume"},"content":{"rendered":"<p>In July, the Solana ecosystem outpaced Ethereum in decentralized exchange trading volume for the first time, recording $55.8 billion compared to Ethereum&#8217;s $53.8 billion.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">According to DefiLlama, Solana surpassed Ethereum in monthly DEX trading volume for the first time in July 2024, reaching $55.876 billion, compared to Ethereum\u2019s $53.868 billion. Other outstanding performing chains include Arbitrum ($24.569 billion), BSC ($17.888 billion), and\u2026<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1818997232722751531?ref_src=twsrc%5Etfw\">August 1, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>This figure does not account for L2 solutions.<\/p>\n<p>The surge in metrics is likely influenced by the hype surrounding meme tokens based on Solana.<\/p>\n<p>According to Parsec Finance analyst known as kezfourtwez, users on the popular platform Pump.fun have created 1,567,948 coins, including 6000 in the last 24 hours.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">the trenches feel pretty cooked atm, gonna lay out some data and my thoughts because i need someone smarter than me to tell me how it gets resolved<\/p>\n<p>> pump fun hit an ath in daily rev yesterday at $2.3m<br \/>> cumulative revenue is just under $80m<br \/>> 1,567,948 coins have been launched\u2026 <a href=\"https:\/\/t.co\/5Yh2wZU0Br\">pic.twitter.com\/5Yh2wZU0Br<\/a><\/p>\n<p>\u2014 kezfourtwez (@kez4twez) <a href=\"https:\/\/twitter.com\/kez4twez\/status\/1818939244293066801?ref_src=twsrc%5Etfw\">August 1, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Cumulative protocol fee revenue has approached $80 million, with a record $2.3 million reached on July 31.<\/p>\n<p>The expert noted the &#8220;fluidity&#8221; of liquidity in coins and expressed concerns about the resilience of &#8220;old&#8221; leaders.<\/p>\n<p>In his view, there are 5-10 tokens with a capitalization of $10-100 million competing for traders&#8217; attention. This remains relevant until the next cohort of coins emerges to &#8220;capture&#8221; their liquidity.<\/p>\n<p>According to the expert, the number of tokens currently exceeds the capital volume needed to sustain price growth.<\/p>\n<p>Earlier, the cryptocurrency data service DEX Screener launched a platform on Solana called Moonshot, competing with Pump.fun.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In July, the Solana ecosystem outpaced Ethereum in decentralized exchange trading volume for the first time, recording $55.8 billion compared to Ethereum&#8217;s $53.8 billion.<\/p>\n","protected":false},"author":1,"featured_media":15769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[787,1161,1159,958],"class_list":["post-15770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dex","tag-memes","tag-solana-sol","tag-trading-volume"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=15770"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/15769"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=15770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=15770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=15770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}