Key Points
- •Solana's revenue surpasses Ethereum's early growth, reaching $2.8B.
- •Solana leads in DeFi volume against competitors.
- •Institutional interest shifts toward Solana during peak performance.
Solana achieved over $2.8 billion in DEX revenue, surpassing Ethereum's early growth rates, according to on-chain analytics on May 12.
The surge indicates Solana’s rising dominance in the crypto ecosystem, affecting Ethereum’s market position and influencing future institutional strategies.
Solana reports achieving over $2.8 billion in decentralized exchange (DEX) volume, surpassing early growth milestones set by Ethereum. This information stems from recent on-chain data showing significant traction within Solana's ecosystem.
Anatoly Yakovenko, co‑founder of Solana, has maintained a skeptical view on meme coins and NFTs, saying: “Meme coins and NFTs are digital slop with no intrinsic value.”
The network's growth is reflected through rising exchange analytics, though founders refrain from publicly celebrating this achievement.
The immediate market effect is noticeable as Solana captures 24.25% of DEX trading volume. Investments and liquidity in Ethereum are affected as institutional momentum shifts. Major exchanges show Solana's robust performance, pushing its price above $190.
Regulatory attention increases following a delay in the SEC's decision on Grayscale’s Solana ETF. Such movements suggest potential for more institutional inflows into Solana’s growing ecosystem.
Ethereum's early growth trajectory parallels Solana's current achievements, albeit at a slower pace historically. This change raises questions about competitive positioning within the market.
Historical patterns indicate institutional allocation changes during similar market shifts. Technological developments within Solana drive market dynamics, supported by ongoing whale activities and whale behaviors as crucial indicators.