Solana led the decentralized exchange (DEX) market with a staggering 52% trading volume in Q1 2025, driven by a surge of memecoins. Despite this impressive figure, Ethereum remains a formidable competitor, showcasing its strong economic activity with a substantial app capital.
Ethereum, holding $203 billion in app capital, is regaining its position as a stable foundation for real economic activities, surpassing Solana significantly. Despite recent market fluctuations affecting both platforms, Ethereum continues to prove its enduring value in the cryptocurrency space.
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