Solana's DEX Volume Surges Amid Market Shifts

According to BlockBeats, last weekend marked one of the most dynamic periods in the cryptocurrency sector, with decentralized exchange (DEX) volumes reaching unprecedented levels and Solana showing remarkable performance across various metrics. Solana's DEX trading volume soared to $27 billion, significantly surpassing Ethereum's $5 billion. This represents a 5.4-fold increase from Solana's average of around $5 billion. Consequently, the ratio of DEX to centralized exchange (CEX) trading volumes hit a record high of 19%. Capital flows also indicated significant market shifts, with Solana experiencing a net inflow of $153 million over the week, while Arbitrum saw an outflow of $405 million. Data from DeBridge highlighted that Solana's weekly inflow reached approximately $300 million, primarily from Ethereum, Base, and Arbitrum, while outflows were about $140 million. Phantom, a popular Solana wallet, reported a surge in activity, with over 8 million requests per minute and a total transaction volume of $1.25 billion across 10 million transactions. This activity generated approximately $10.6 million in fees at the current rate of 0.85%. On the day of the $TRUMP token launch, Solana's SOL token saw a significant 25% increase against Ethereum (ETH), marking the largest single-day gain since 2021. This revaluation has sparked discussions about Solana potentially surpassing Ethereum, further dampening sentiment within the Ethereum community and increasing calls for reform within the Ethereum Foundation. Despite Solana's strong performance, transaction fees surged 20-fold, causing difficulties for many users in completing transactions. However, this fee increase benefited SOL stakers, with total fee revenue reaching $57 million, including $33 million from priority fees and $23.5 million from Jito Tips. Additionally, $SOL's burn rate hit a record $16.7 million, though this amount only equates to 81% of SOL's issuance for the day, challenging the "ultra-sound money" narrative. In summary, the weekend was dominated by Solana, with $TRUMP, MELANIA, and $SOL capturing significant market attention, while Ethereum's market sentiment turned negative once again.