Ethereum Holds 35% of DEX Market Share, Competitors Like Solana Are Catching Up
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September 15, 2024
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Ethereum Dominates DEXs, But Challengers Emerge
According to IntoTheBlock data, Ethereum (ETH) continues to dominate decentralized exchanges (DEXs), holding nearly 35% market share. Despite recent price pressure, Ethereum's network activity and application usage in the DeFi space remain strong.
However, blockchain networks like Solana, Arbitrum, and BNB Chain are rapidly growing and increasingly challenging Ethereum's market dominance. Solana, in particular, has seen a significant rise in trading volume, showcasing its growing importance in the DEX market. Arbitrum and BNB Chain are also increasing their market share, with Arbitrum accounting for 14% and BSC for 11% of total DEX trading volume. (Bitcoinist)
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