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Solana Surpasses Ethereum in Recent Activity Report

Chain Chameleon
Chain ChameleonJanuary 23, 2025
Markets
Solana Surpasses Ethereum in Recent Activity Report
Solana Surpasses Ethereum in Recent Activity Report

Transaction Volume: Solana Outpaces Ethereum

Over the past three months, Ethereum and its mainstream Layer 2 solutions (L2s) processed a total of 1.138 billion transactions, a significant figure demonstrating the ecosystem’s robust activity. However, Solana far surpassed this, generating 5.053 billion transactions during the same period—nearly five times Ethereum's total.

This stark contrast underscores Solana’s focus on high transaction throughput, made possible by its unique Proof-of-History (PoH) consensus mechanism, which enables rapid and cost-efficient processing of transactions. In comparison, Ethereum, while transitioning to a Proof-of-Stake (PoS) model and integrating L2 solutions, still operates with relatively higher fees and slower transaction speeds.

Source: Dune

Source: Dune

DEX Transaction Volume: Solana Leads the Way

Decentralized exchanges (DEXs) are a critical component of blockchain ecosystems, providing users with trustless platforms for trading assets. In this arena, Solana also takes the lead. Over the past three months, DEXs on Solana recorded a staggering $1974.87 billion in transaction volume, dwarfing Ethereum’s still-impressive $504.83 billion.

The difference can be attributed to Solana’s low fees and scalability, which make it an attractive option for high-frequency trading and DeFi (Decentralized Finance) applications. While Ethereum remains a dominant player in the DeFi space, its higher costs may limit accessibility for smaller traders and push some activity to more cost-effective platforms like Solana.

Active Addresses: Solana Boasts a Larger User Base

Another critical metric in assessing network adoption and activity is the number of active addresses. Ethereum and its L2s reached a total of 82.56 million active addresses over the past three months. Solana, on the other hand, reported a staggering 344 million active addresses during the same period.

This significant difference indicates Solana’s growing popularity among users and developers. Its lower entry barriers, including faster transactions and minimal fees, make it appealing to a broader audience, particularly those engaging in decentralized applications (dApps) and non-fungible tokens (NFTs).

Disclaimer:The content published on Cryptothreads does not constitute financial, investment, legal, or tax advice. We are not financial advisors, and any opinions, analysis, or recommendations provided are purely informational. Cryptocurrency markets are highly volatile, and investing in digital assets carries substantial risk. Always conduct your own research and consult with a professional financial advisor before making any investment decisions. Cryptothreads is not liable for any financial losses or damages resulting from actions taken based on our content.
Chain Chameleon
WRITTEN BYChain ChameleonChain Chameleon is a dedicated advocate for crypto adoption and a dynamic senior researcher with a passion for blockchain technology. Since 2018, she has been exploring the depths of cryptocurrencies, decentralized networks, and the evolving digital asset landscape, building a strong foundation in blockchain ecosystems. With years of experience analyzing blockchain networks, Layer 0, Layer 1, Layer 2, and Layer 3 solutions, Chain Chameleon simplifies complex concepts into insightful, easy-to-digest content. Whether breaking down blockchain fundamentals or exploring cutting-edge scaling solutions, she brings clarity to the ever-evolving crypto space.
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