Once full of ambitions to dethrone Ethereum, most blockchains today seem to avoid embarrassing comparisons to the Web3 giant. However, two names are still emerging in the arena: Ripple and Solana. And the latter is causing a sensation in 2024 with insolent performances, both in total value locked and in crypto trading volumes. Let's focus on the impressive numbers that reveal why Solana is shaking up the established order.
Solana vs Ethereum: domination in numbers
With almost $3.8 billion exchanged within 24 hours on its DEX platforms, Solana far exceeds Ethereum (1.7 billion) and Base (1.2 billion) combined. The rising star of Web3 is not taking half measures, although it worries its founders: its total value locked (TVL) has climbed by 1.4 billion to 9.5 billion dollars in one yearan increase of five times, according to DefiLlama.
Some highlights :
- The DEX Raydium on Solana saw its monthly volumes reach 30 billion dollarssurpassing Uniswap in November;
- Memecoins represent up to 65% of the monthly volume of Raydium;
- In just 30 days, the Pump.fun platform generated $250 million in volume.
As pointed out Aylo on X :
“ Solana regained higher DEX volume than Ethereum and Base combined. »
A performance which reflects its central role in the memecoin and AI agent token sector.
Why crypto traders love Solana
The success of Solana can be explained by a well-oiled recipe : reduced fees, speed of execution and an active community. Traders looking for explosive profits are flocking to memecoins and tokens linked to artificial intelligence, two sectors where Solana excels.
Grayscale Research notes that the “ speculation around memecoins and AI agent tokens » attract new investors to the Solana ecosystem.
Raydium, with its 60% market share on Solana, embodies this domination. Although competition with Ethereum remains fierce, Solana is taking advantage of its rise to attract investors tired of Ethereum's limitations.
Additionally, its diverse ecosystem encourages innovation, whether in DeFi or beyond.
But Solana does not just shine with its numbers: it innovates. With its unique shield which will allow it to be untouchable in the face of the quantum threat, this blockchain is establishing itself as a key player in Web3, ready to challenge anyone who ventures onto its territory.
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