Solana continues to lead in decentralized-exchange (DEX) trading volume compared to Ethereum and other smart-contract blockchains, persevering through a stagnant crypto market that has dampened trader enthusiasm. According to DeFiLlama, Solana-based DEXs have reached over $60 million in trading volume this month, nearly doubling Ethereum's $34 million, despite the latter being the largest smart-contract blockchain.

Tagus Capital has observed that Solana's appeal comes from its lower transaction fees and higher throughput, attracting both developers and users, which underscores its significance in decentralized finance.

Since October, Solana has maintained its dominant position, notably in January when Solana-based DEXs saw a staggering $258 billion in trading volume, while Ethereum lagged at $86 billion.

Beyond just transaction volumes, Solana's impact is reflected in its revenue generation.

This month alone, the blockchain has earned $25 million in revenue, surpassing Ethereum's $16 million. Back in January, Solana generated $124 million against Ethereum's $109 million. These figures bolster a positive outlook for the SOL-ETH ratio, which hit a peak of 0.09 in January before settling at 0.075 according to TradingView data.

However, despite Solana's impressive metrics, its total value locked (TVL) stands at $9 billion, significantly lower than Ethereum’s $57 billion, as highlighted by Tagus Capital.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.