Solana currently dominates the retail decentralized Exchange (DEX) and represents 48% of all DEX volumes.
According to a recent OKX report, this is largely due to the pump.fun platform, a popular meme coin platform based in Solana. CryptoPotato.
Solana and Ethereum
Solana is the leader in terms of overall volume. However, Ethereum’s Layer 2 network and Layer 3 networks are dominant when it comes to high-value transactions, especially those that exceed $50,000. Ethereum is still the leader in liquidity pool quality. It holds 10 of top-20 positions. Base has five. Arbitrum and Binance Smart Chain each have two. Solana only occupies one.
The data provided by the cryptocurrency exchange shows that Solana is a strong player in the retail market, while Ethereum continues to be the most popular choice for high-value transactions.
Jason Lau, the Chief Innovation Officer of OKX, said:
“Decentralized Exchanges are the lifeblood of the onchain economy, embodying the core ethos of crypto through their permissionless, self-custodial, and community-driven nature. Our findings reveal how the DEX landscape has grown – with activity recently hitting all-time highs.”
Platforms like Hyperliquid, dYdX and others are developing appchain innovation to achieve exchange-level performance. Spot trading volume on decentralized exchanges These advancements, which still outpace derivatives trading on a 10-fold basis, highlight an important shift in the marketplace.
The same is true for traditional financial instruments (TradFi), with T-Bills and other basis-trading assets such as USDe or USR becoming yield-bearing currencies. OKX believes that this development is a positive one. “fundamentally changing” Derivatives market will change by providing new options for traders, and increasing capital efficiency.
Asia leads in Developer Wars
Asia has overtaken Europe and North America in terms of blockchain developers, and 32% are based there. OKX’s findings show that Ethereum is the platform of choice for developers. This attracts 20.8%. Solana was next, taking 11.2% of the developers, followed by Base with 10.7%.
AI integration is also a growing focus, and it accounts for nearly 34% of all developer activity. It has also outpaced sectors such as decentralized finance and blockchain infrastructure, with 20,1% and 14,2% respectively.
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Source: cryptopotato.com
