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A recent OKX report examined the state of decentralized exchanges (DEXs) in 2025, revealing Solana as a dominant force while Ethereum faces challenges to maintain its relevance. The report highlighted how innovations across blockchains, technological advancements, and evolving user preferences have collectively reshaped the DEX sector. Solana Leads the DEX Revolution The Solana ecosystem is a key highlight in the OKX exchange’s report. It has emerged as a dominant force in decentralized finance (DeFi), commanding 48% of the total DEX volume. According to the State of DEXs in 2025, this growth can be attributed to its high-speed transaction capabilities, negligible fees, and developer-friendly infrastructure. “By almost all measures of blockchain adoption, Solana blows every other chain out of the park. Network transaction fees generated, transaction count, active wallet addresses, DEX active users – Solana is truly the retail chain,” read an excerpt in the report. Further, OKX cites Solana’s architectural advantages, which have also attracted traders and developers, creating a strong ecosystem for decentralized trading. A prime example of this success is Raydium, Solana’s flagship automated market maker (AMM). As BeInCrypto reported, Raydium recently dominated Solana DEX volume. Solana DEX Volume. Source: Dune Raydium has established itself as a key player in Solana’s DeFi ecosystem by pioneering innovative liquidity provision models. The OKX report notes that Raydium’s efficient liquidity pooling has become a standard for DEX platforms, posing a direct challenge to Ethereum and its derivatives. The report also highlights that users are increasingly gravitating toward Solana due to its lower transaction costs and faster speeds. This shift has pressured Ethereum to expedite the rollout of Ethereum 2.0 to remain competitive. As Solana continues to gain momentum, OKX highlights Ethereum’s efforts to stay relevant with the launch of Ethereum 2.0. The upgrade aims to deliver reduced fees, improved scalability, and a smoother user…

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Filed under: News - @ January 28, 2025 1:27 pm