It is no surprise that the attention surrounding Official Trump (TRUMP) has strongly boosted trading activity on decentralized exchanges (DEX) on Solana.
The trading volume ratio of Solana's DEX to Ethereum reached a record 268% in January, marking a significant change from the 53% of the same period last year. Specifically, Solana processed trading volumes of up to 122 billion USD, while Ethereum recorded only 45 billion USD.
Raydium is the leading platform in the Solana ecosystem, with weekly trading volumes reaching up to 32 billion USD, followed by Orca with 17 billion USD. In comparison, Uniswap on Ethereum only processed 20 billion USD in the same timeframe.
The strong increase in the number of traders has greatly benefited from improvements in the user experience (UX) of DEX on Solana.
Source: Defillama
Improvements in transaction processing, minimizing network downtime, enhanced DEX user interfaces, along with the integration of the Jupiter aggregator providing optimal trading routes, have contributed to the strong development of the Solana network. Additionally, the increase in organizational infrastructure has also played a significant role in this success.
The stark difference in trading volume has sparked discussions about Ethereum's position in the market. Vitalik Buterin, co-founder of Ethereum, has pointed out that major changes will be made to the Ethereum Foundation, including improvements focused on community support and communication. This is also happening alongside proposals from Joseph Lubin, another co-founder of Ethereum, regarding personnel changes in the leadership team of the Foundation.
Many factors are driving this development, including the lower transaction costs of Solana, attracting retail traders, along with the growing confidence in the stability of the network and the transition of major projects to the Solana ecosystem. However, many still hope that Ethereum's early start in building a developer community and integrating organizations can provide the network with the necessary resources to continue to grow robustly in the future.
https://tapchibitcoin.io/memecoin-trump-day-volume-solana-dex-vuot-ethereum.html
