Solana Manages To Surpass Polygon In Daily DEX Volume

It has been just revealed that Solana managed to overcome MATIC in terms of daily DEX volume. Check out more details about the new report below.

Solana (SOL), a competitor to Ethereum (ETH), is continuing its upward momentum by surpassing Polygon (MATIC), a layer-2 scaling solution, in daily decentralized exchange (DEX) volume.

According to the latest data from blockchain tracking platform Artemis, Solana has exceeded MATIC in both overall DEX volume and the number of daily transactions.

It is also worth noting the fact that starting yesterday, Solana had a DEX volume of $240.5 million, which is higher than Polygon’s $137.5 million.

Recent data shows that Solana has surpassed Polygon as well as other popular digital assets such as ETH and Avalanche (AVAX) in terms of daily transactions.

Solana managed to record millions more daily transactions compared to its competitors, with 19.5 million on November 2nd, while ETH had only 1.05 million, MATIC had 2.59 million, and AVAX had 192,000.

Another issue that we should mention, according to the online publication the Daily Hodl, themarket cap charts reveal that SOL has been outpacing other digital assets since the beginning of October, setting itself apart in November.

Solana’s growth has been reflected in its price, with the smart contract platform experiencing a 300% increase in value since January 1, 2023, when it was trading for just $9.97.

At the moment of writing this article, Solana is trading at $39.36, which indicates a fractional decrease during the past 24 hours.

Recently, two well-known crypto experts shared their views on the rising popularity of Solana. Raoul Paul, a macro guru, referred to Solana as a “rocket ship” after the launch of Firedance, a new validator client for the SOL blockchain that has improved its scalability and speed.

A few days later, a pseudonymous crypto trader named Pentoshi predicted that the Ethereum rival would temporarily drop to the $32 range before making another upward move.