The Solana network has registered to replace Ethereum in the decentralized finance (DeFi) domain. $141,667 million Trading volume for the last 30 days.
According to data from DeFiLlama, Ethereum is in second place with a monthly trading volume of $102,793,000.
Despite Solana’s growth in DeFi, Ethereum remains the network with the highest total value locked (TVL) at $77.289 billion, while Solana’s TVL is $10.43 billion.
The large trade volume of Solana is mainly due to Adoption of HumidiFi, a decentralized exchange (DEX). As reported by CriptoNoticias, the platform has outperformed Meteora and Raydium in the past 30 days.
HumidiFi acts as an automated market maker (AMM), enabling broker-free token swaps using liquidity pools and automatically setting prices.
Solana DEX trading volume reached nearly $150 billion in October, with HumidiFi accounting for 23.6% of trading volume, followed by Meteora at 22.4% and Raydium at 14.2%.
In this way, Solana talks about Ethereum’s governance in DeFihas led this market segment for many years due to its wide adoption and numerous projects built on its platform.
(Tag translation) Altcoin
