In terms of daily decentralised exchange (DEX) volume, competitor of Ethereum (ETH) Solana (SOL) is maintaining its upward pace as it surpasses Polygon (MATIC), a layer-2 scaling solution.
The smart contract platform has eclipsed MATIC in terms of total DEX volume and daily transaction count, according to new statistics from blockchain tracking tool Artemis.
According to Artemis statistics, Solana surpassed Polygon with a DEX volume of $137.5 million as of yesterday, with a volume of almost $240 million.
SOL Tops MATIC: Solana’s Rally in Decentralized Exchanges,SOL Tops MATIC: Solana’s Rally in Decentralized Exchanges
In terms of daily transactions, the figures also demonstrate how much Solana outperformed Polygon and other digital assets like ETH and Avalanche (AVAX). With 19.5 million transactions on November 2nd compared to ETH’s 1.05 million, MATIC’s 2.59 million, and AVAX’s 192,000, Solana has witnessed millions more daily transactions than its rivals.
The market capitalization chart is another one that shows Solana’s recent increasing pace. SOL has been surpassing its rivals in terms of market capitalization since the beginning of October, significantly differentiating itself in November.
The price of Solana has also increased in line with its growth; from January 1, 2023, when it was trading for barely $9.97, the smart contract platform has experienced a price increase of about 300%. As of this writing, Solana is selling for $39.36, a little drop over the previous day.
Two well-known cryptocurrency strategists recently offered their opinions on the ascent of Solana. First, macro expert Raoul Paul compared Solana to a “rocket ship” following the introduction of Firedance, a new validator client that increased the SOL blockchain’s speed and scalability.
A few days later, the anonymous cryptocurrency trader Pentoshi anticipated that the competitor of ETH will pull back towards the $32 region, just to initiate another upward surge.
SOL Tops MATIC: Solana’s Rally in Decentralized Exchanges,SOL Tops MATIC: Solana’s Rally in Decentralized Exchanges,SOL Tops MATIC: Solana’s Rally in Decentralized Exchanges , MATIC coin Crypto news, MATIC coin News