Alex Dovnya
Solana (SOL) also appears to be on track to overtake Ethereum (ETH) in terms of fees.
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Solana is managed Recent data shows that Ethereum has reached the top in daily trading volume over a 24-hour period on decentralized exchanges.
DEX trading volume for two popular blockchains hit $1.3 billion and $1.29 billion, respectively.
BSC took third place with DEX trading volume worth $604 million.
Arbitrum and Base rank 4th and 5th in DEX trading volume, generating $510 million and $286 million, respectively.
It's also worth noting that Solana's total price is currently: 50% Ethereum fees over the past few days. By comparison, this ratio was only 1% during the 2021 bull market.
some analysts expect Solana plans to invert Ethereum fees this month, which would be a major development for the crypto ecosystem. However, it is worth noting that one of the reasons for this changing dynamic is that capital is moving towards layer 2 solutions.
Solana soars 6%
The price of the SOL cryptocurrency has surged more than 6% in the past 24 hours, making it one of the best-performing altcoins. The token is currently trading at $154 on major spot exchanges. The current market capitalization is $68 billion.
For comparison, ETH is currently up just 1.23%. But its valuation, at $365 billion, is still smaller than Solana.
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Alex Dovnya
