DefiLlama reports that the Solana network has surpassed the combined 24-hour trading volume of Ethereum and Base on decentralized exchanges, with nearly $3.8 billion in daily trading volume on Jan. 6 compared to $1.7 billion for Ethereum and $1.2 billion for Base, the most popular layer-2 scaling network for Ethereum.
This significant increase in trading volume showcases Solana’s growing role in the DeFi industry and its competition with Ethereum.
Additionally, Solana has outperformed Ether by approximately eight times since 2023, according to TradingView. Its total value locked (TVL) has also seen a significant rise, from around $1.4 billion in 2024 to over $9.5 billion, according to DefiLlama.
Grayscale Research noted in December that retail traders are increasingly entering the crypto market through Solana, driven by the hype surrounding Solana-based memecoins and AI agent tokens.
