Solana Surpasses Ethereum in DEX Volume on Retail Demand and Low Fees
DeFiLlama data for April 6 shows Solana processed roughly $920 million in 24‑hour DEX spot volume versus Ethereum’s $563.47 million, signaling a notable shift in on‑chain trading flows. The gap reflects strong retail demand and Solana’s persistently low transaction costs, which have made spot swaps and smaller trades more cost‑effective on SOL‑based venues. While memecoin activity has amplified headlines, the volume surge appears tied to broader liquidity and fee dynamics rather than hype alone. Ethereum remains the hub for institutional flows and Layer‑2 activity, but Solana’s recent performance highlights intensifying competition for DEX market share. Traders and protocols sensitive to fees will likely monitor whether this trend endures as markets cool and on‑chain congestion patterns evolve.