Solana">Solana (SOL) has overtaken layer-2 Polygon (MATIC) in daily decentralized exchange (DEX) volume and transactions, according to data from Artemis.
As of November 2nd, Solana processed around $240 million in daily DEX volume compared to Polygon’s $137 million. Solana also led other top blockchains with 19.5 million daily transactions.
The metrics highlight Solana’s ascendance amidst its ongoing rally. Since January, SOL has seen a 300% price increase. Experts have touted Solana’s speed and scalability improvements as bullish developments.
Solana’s growth in both price and adoption separates it from competitors like Polygon and Ethereum. The expanding DEX volume and transactions signal growing decentralized app usage and utility.
By outpacing the activity on Polygon, a leading Ethereum scaling solution, Solana demonstrates its status as a top-tier smart contract platform. Its recent resurgence combined with the hard data paint an optimistic picture for Solana as blockchain competition heats up.
The DEX numbers provide measurable evidence that Solana’s blockspace is in high demand even after previous network instability issues. As the Solana ecosystem expands, its rivalry with Ethereum and other chains will likely intensify.
