Ethereum exceeds Solana in volume of transactions on DEX according to Defillama data, Dex based on Ethereum recorded around $ 63 billion in exchange volume throughout March 2025. This dynamic allowed Ethereum to exceed Solana, which recorded $ 51 billion during the same period. DEX exchange volumes per chain. Source: Defillama This change marks a significant turning point in the always active competition between Ethereum and Solana within decentralized finance (DEFI). Solana had dominated the world of Dex for many months, well supported by its reduced costs and its high transaction flow. Franklin Templeton noticed the trend and predicted that the rise in the DEFI sector on Solana could revalue with Ethereum. However, recent reductions in the volume of transactions on the Solana blockchain suggests a change in dynamics for the market. The drop in activity for Solana blockchain is closely linked to the decrease in activity around the same corners and preponderant platforms like Raydium (Ray) and Pump.fun. Pump.fun, experienced a particularly brutal drop in activity compared to the heights at the start of the year. The monthly volumes went from a peak of $ 7.75 billion in January to only $ 2.53 billion in March. This represents a drop in terrifying activity of 67 %. Pump.fun exchange volume. Source: DEFILLAMA The DUN data show that this slowdown aligns with the end of the boom in the new launches of the platform. The percentage of new tokens reaching the market capitalization threshold of $ 100,000 lowered from 0.8 % to 0.65 %. As a reminder, once this threshold has been reached, the tokens migrate from Pump. Fun to the Raydium platform, which offers a much larger exhibition. With this declining rate, the exchange activity within the Solana ecosystem is also down. A competitor finds a craze while the activity weakens on the side of Solana, the volume of transactions on the side of Ethereum is resilient. Platforms like Uniswap (UNI) and Curve Finance (CRV) have found up. In March, Uniswap contributed for more than $ 30 billion in exchange volume, contributing significantly to an Ethereum blockchain which regains its domination of yesteryear. In this context, experts believe that despite Solana’s competitiveness, there is still a long way to go before definitively dethroning Ethereum. Meanwhile, other analysts claim that Ethereum’s resurrection could extend in the second quarter (T2). Updates to come could encourage a positive trend. “On-chain developments offer a certain hope for ETH … with Pectra now successfully deployed on the Holesky Testnet and an update on the main network scheduled for the second quarter, some hope for the downward trend of the ETH/BTC pair” noted QCP Capital analysts. The implementation of the Pectra update on the main network of Ethereum should improve scalability and efficiency. Potentially, this could stimulate adoption and trading activity. In addition to this positive momentum, ETHEREUM ETHEREM recorded net inputs on Monday, contrasting with the negative outputs of BTC ETF. From now on, this reversal of situation will have to be confirmed over time. Morality of history: what is ephemeral does not hold on the contrary from what is solid. Notice of non-responsibility Non-responsibility notice: In accordance with the guidelines of The Trust Project, BEINCRYPTO undertakes to provide impartial and transparent information. This article aims to provide exact and relevant information. However, we invite readers to verify the facts of their own and consult a professional before making a decision on the basis of this content.
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