Identifying trends in DeFi requires analyzing activity on decentralized exchanges (DEXs). These DEXs are the cornerstone of the DeFi market, at the center of DeFi activity, and the main driving force of the sector. To understand what drives DeFi, we need to look at the volume, trader activity, and variety of trading pairs on DEXs. […]
DeFi landscape shifts as Solana dethrones Ethereum in trading volume DeFi landscape shifts as Solana dethrones Ethereum in trading volume
Solana leads the DeFi market with robust activity, overshadowing Ethereum's longstanding dominance.
4 min read
Updated: May. 13, 2024 at 3:59 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Ethereum
$3,344.69
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Arbitrum
$0.82423
Arbitrum is a type of technology known as an optimistic rollup.
Raydium
$6.04093
Raydium is an automated market maker (AMM) and liquidity provider built on the Solana blockchain for the Serum decentralized exchange (DEX).
Designed with simplicity in mind, the Uniswap protocol provides an interface for seamless exchange of ERC20 tokens on Ethereum.