Solana’s Retail Surge Driven by Pump.fun, Ethereum Still King of Large Trade
The post Solana’s Retail Surge Driven by Pump.fun, Ethereum Still King of Large Trade appeared on BitcoinEthereumNews.com.
Solana is currently dominating the retail decentralized exchange (DEX) market and accounts for 48% of total DEX volume. In fact, nearly 60% of this activity is driven by the popular Solana-based meme coin platform pump.fun transactions, according to OKX’s recent report shared with CryptoPotato. Solana vs. Ethereum While Solana leads in overall transaction volume, Ethereum and its Layer 2 networks maintain a stronghold on high-value trades, particularly those exceeding $50,000. In terms of liquidity pool quality, Ethereum continues to lead, holding 10 of the top 20 positions, followed by Base with five, Arbitrum and Binance Smart Chain (BSC) with two each, and Solana securing just one spot. This data from the crypto exchange highlighted Solana’s strength in retail trading, even as Ethereum remains the preferred choice for large-value transactions and deep liquidity pools. Commenting on the report’s findings, OKX Chief Innovation Officer Jason Lau 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.” Decentralized derivatives are gaining traction as platforms like Hyperliquid and dYdX introduce appchain innovations aimed at achieving centralized exchange-level performance. Although spot trading volumes on decentralized exchanges still surpass derivatives trading by a factor of 10, these advancements highlight a significant shift in the market. At the same time, traditional finance (TradFi) yield instruments are making their way into DeFi, with tokenized Treasury Bills (T-Bills) and basis trading assets like USDe and USR emerging as yield-bearing base currencies. This development, according to OKX, is “fundamentally changing” the derivatives landscape by offering new opportunities for traders and ramping up capital efficiency in DeFi markets. Asia Leads in Developer Wars From the demographic front, Asia is emerging as the…
Filed under: News - @ February 3, 2025 4:20 am