In the past 30 days, decentralized exchanges (DEXs) on the Solana blockchain have outperformed their counterparts, recording 210 million transactions. This milestone underscores Solana’s growing influence in the decentralized finance (DeFi) ecosystem and its ability to efficiently manage high transaction volumes. By comparison, BNB Chain’s DEXs saw 29 million transactions, Arbitrum recorded 13 million, and Ethereum, a major player in DeFi, managed only 6.7 million transactions.
Solana’s DEXs also reported a significant total trading volume of $47.75 billion and over 11 million unique traders during this period. Raydium, a prominent DEX on Solana, contributed notably to this performance, with an average weekly trading volume of approximately $5 million.
These figures highlight Solana’s technical capabilities and its appeal to traders seeking high-speed, low-cost transactions. As the DeFi landscape continues to evolve, Solana’s performance indicates its potential to maintain and expand its role within the ecosystem, challenging established blockchains like Ethereum. The substantial transaction volume and user engagement on Solana’s DEXs suggest a robust and growing interest in its DeFi offerings.