Solana’s on-chain DEX weekly trading volume reached 168% of Ethereum’s DEX weekly trading volume, setting a new record high for the metric. This is a huge change from the beginning of the year, when Solana DEX’s weekly trading volume was only 48.85% of Ethereum’s.
In October, Solana’s ecosystem head DEX Raydium’s trading volume reached $22.3 billion, while Ethereum’s Uniswap trading volume was $38 billion. Raydium’s market share has expanded significantly from 7.6% in January to 18.4% in October, while Uniswap still dominates the Ethereum ecosystem.
The nature of trading activity between different chains is also different. Raydium’s main trading pool mainly includes newer token transactions, while Uniswap tends to favor more mature token trading pairs. (The Block)