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Solana surpassed Ethereum
Solana recorded a 24-hour DEX volume of $1.475 billion, compared to Ethereum's $1.164 billion.
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Is Solana the ETH killer?
Solana has overtaken Ethereum, recording a 24-hour DEX volume of $1.475 billion, compared to Ethereum's $1.164 billion.
Solana's DEX volume surged by 52.75% over the week, while Ethereum's decreased by 8.60%.
This trend wasn’t isolated to Solana, as most blockchain DEX volumes, like Avalanche, also saw substantial increases - Avalanche by 98.86%.
Catalysts for Growth
Solana's growth is primarily driven by its low transaction fees and a series of anticipated airdrops.
These factors have contributed to its increasing popularity among DEX users.
In November 2023 saw a 19% increase in active gaming wallets, reaching 1.3 million.
This growth highlights the expanding interest and engagement in blockchain-based gaming.
What is Solana?
Solana: a Layer 1 chain with key features:
Fast transactions
Low fees
Scalability
Decentralization
Solana synchronizes time on the blockchain, ensuring agreement among all computers in the network. Unlike Bitcoin and Ethereum.
Also referred to as Proof of History.
Solana's Ecosystem
DeFi Platforms: Marinade, Jito, marginfi
NFT Marketplaces: Tensor, Mad Lads, Kromes
Mobile Integration: Solana Saga, a breakthrough in blockchain mobile technology.
Payment Solutions: Sol Pay & Shopify collaborations.
Gaming Ventures: Immersive games like Bladerite.
Why Solana Matters
Solana's blend of speed, low cost, and scalability positions it as a formidable player in the blockchain space.
Its diversified ecosystem shows adaptability and potential for growth, especially post-2022's hurdles.
As blockchain technology evolves, Solana's unique approach to synchronization and transaction processing sets a new benchmark for future developments.