Solana ‘drinking the Ethereum milkshake’ as DEX market share rises: OKX
Solana has captured around half — and sometimes nearly all — of the DEX volume in the last five weeks, and OKX says it’s extending its dominance over Ethereum.
Solana has surged to dominate nearly half of the decentralized exchange (DEX) market, largely driven by the memecoin launchpad Pump.fun, which has seen more volume than the Ethereum network in recent weeks, says crypto exchange OKX.
Solana’s DEX dominance rise is attributed to its “blazing transaction speeds, minimal costs, and developer-centric tools,” OKX said in its Jan. 28 The State of DEXs 2025 report.
It said Solana was “drinking the Ethereum milkshake,” as Dune Analytics figures show it briefly obtained an 89.7% DEX market share in the last week of December, and its share has remained above 50% over the last five weeks.
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Author: Brayden Lindrea
