The Solana network has registered to replace Ethereum in the decentralized finance (DeFi) domain. $141,667 million Trading volume for the last 30 days.
According to data from DeFiLlama, Ethereum is in second place with a monthly trading volume of $102,793,000.
Despite Solana’s growth in DeFi, Ethereum remains the network with the highest total value locked (TVL) at $77.289 billion, while Solana’s TVL is $10.43 billion.
The large trade volume of Solana is mainly due to Adoption of HumidiFi, a decentralized exchange (DEX). As reported by CriptoNoticias, the platform has outperformed Meteora and Raydium in the past 30 days.
HumidiFi acts as an automated market maker (AMM), enabling broker-free token swaps using liquidity pools and automatically setting prices.
Solana DEX activity in October reached nearly $150 billion, with HumidiFi accounting for 23.6% of the trading volume, followed by Meteora at 22.4% and Raydium at 14.2%.
In this way, Solana talks about Ethereum’s governance in DeFihas led this market segment for many years due to its wide adoption and numerous projects built on its platform.
