Solana Peringkat Kedua dalam Volume DEX: Apakah Harga SOL Akan Mengikuti?
Altcoin Watch Solana ranks second in DEX volumes — Will SOL price follow? by Marcel Pechman /news/solana-ranks-second-in-dex-volumes-will-sol-price-follow

Solana's DEX Volume Surpasses Ethereum's, But Overall Activity Remains Low

Solana's decentralized exchange (DEX) volume has surpassed Ethereum's, but the overall activity has not reached the levels seen in January. According to DefiLlama data, Solana's DEX volume reached $64.1 billion over 30 days, surpassing Ethereum's $61.4 billion. However, overall DEX activity on Solana remains 91% below January levels.

The growth in Solana's DEX volume can be attributed to the rise of Raydium, Pump.fun, and Orca, which accounted for $19.1 billion, $14.2 billion, and $13.9 billion in volume, respectively. Solana's native token, SOL, has declined 15% since failing to reclaim the $168 level on June 12, amidst reduced network activity and weakening demand for memecoins.

Despite regaining the second spot in DEX volumes, Solana's long-term lead is being questioned by investors. The rise of Hyperliquid, a blockchain for perpetual trading, has weakened investors' confidence in Solana's ability to dominate the market. Solana's native token, SOL, has also seen its annualized perpetual funding rate turn negative, indicating bearish sentiment.

However, a potential catalyst for SOL's recovery could be the approval of a Solana spot exchange-traded fund (ETF) by the US Securities and Exchange Commission, which is expected in October. Additionally, Solana's robust base layer and low fees make it an attractive option for investors.