**Significant Milestone for Solana’s Ecosystem**
In a noteworthy advancement for the Solana ecosystem, the decentralized exchange (DEX) volume on its blockchain recently hit an all-time high. Impressively, Solana’s DEX volume outpaced that of Ethereum (ETH), which is recognized as the largest blockchain by Total Value Locked (TVL).
This surge in activity coincides with a broader market recovery, during which the native tokens of both blockchains—ETH and SOL—experienced substantial price increases over the past week.
According to data released by the Solanians Hub platform on X, Solana led all major blockchains in DEX volume over the past seven days, as of July 18. This uptick is particularly noteworthy, reflecting the Solana network’s ability to capture a significant portion of DEX transactions amid the resurgence of the cryptocurrency market.
“Over the last week, Solana has achieved the highest DEX trading volume among leading blockchains. During this recovery phase, it has surpassed other chains and attracted a considerable number of users to DEX activities!” the platform remarked.
REPORT:
@solarium
has recorded the highest DEX trading volume among top blockchains over the last 7D
During the current market recovery phase, Solana has outperformed other chains, captivating a significant amount of users in DEX activities!
#sol
$SOL
pic.twitter.com/J3EdSwOT2X
— Solanians (@SolaniansHub)
July 18, 2024
The survey indicated that Solana achieved a DEX volume of $13.5 billion in the past week, leading the pack. Ethereum followed closely with $11.7 billion during the same timeframe, while Arbitrum rounded out the top three with $7.6 billion in DEX volume.
At the time of this report, the price of Solana was $159.63, remaining stable over the past 24 hours. The trading volume for Solana (SOL) over the last day was reported at $2,538,817,741, indicating a decline of 17.40% from the previous day, suggesting a recent dip in market activity.
Additionally, in its weekly update, Solana demonstrated a significant recovery, with its price increasing by 11.7% over the last seven days.
**Disclaimer:**
The views and opinions expressed by the author, or anyone mentioned in this article, are intended for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading in cryptocurrencies carries a risk of financial loss.
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