{"id":19981,"date":"2025-04-01T07:01:39","date_gmt":"2025-04-01T07:01:39","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=19981"},"modified":"2025-04-01T07:01:39","modified_gmt":"2025-04-01T07:01:39","slug":"ethereum-reclaims-no-1-spot-as-leading-dex-chain-for-first-time-since-september-overtakes-solana","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=19981","title":{"rendered":"Ethereum Reclaims No. 1 Spot as Leading DEX Chain for First Time Since September, Overtakes Solana"},"content":{"rendered":"<div>\n<p>Last month, Ethereum reclaimed its title as the leading smart contract blockchain for decentralized exchange (DEX) trading, as the market swoon dampened activity on Solana, the go-to platform for memecoin traders.<\/p>\n<p>Ethereum-based DEXes registered an industry-leading cumulative trading volume of $64.616 billion in March, beating Solana&#8217;s tally of $52.62 billion by 22%, according to data source <a href=\"https:\/\/defillama.com\/dexs\/chains\" target=\"_blank\">DefiLama<\/a>. That&#8217;s the first time since September that Ethereum topped the charts, pushing Solana to the number two spot.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/99f08502abdbf962367d33967e99c97a87624956-2008x963.png?auto=format\" alt=\"\"><\/p>\n<p>The change in leadership happened as the total crypto market capitalization fell 4.2% to $2.63 trillion, extending February&#8217;s 20% loss, as macroeconomic uncertainty and disappointment over the lack of fresh BTC purchases in the U.S. strategic reserve saw bitcoin slip below $80,000.<\/p>\n<p>The bearish market sentiment dampened speculation across the broader landscape, especially within the memecoin sector, as reflected in the significant decline in activity on Raydium, the leading Solana-based DEX and a hotspot for meme trading in late 2024.<\/p>\n<p>Throughout March, Raydium <a href=\"https:\/\/defillama.com\/protocol\/raydium?volume=true&amp;tvl=false\" target=\"_blank\">did not log<\/a> a single day with trading volume exceeding $1 billion, highlighting a considerable decrease from its record-high of $13 billion on Jan. 18, DefiLlama data show.<\/p>\n<p>Additionally, daily volume on the Solana-based memecoin launch pad <a href=\"https:\/\/defillama.com\/protocol\/pump?volume=true&amp;groupBy=daily\" target=\"_blank\">averaged <\/a>less than $100 million in March, down significantly from the peak of $390 million in mid-January. Activity on Solana-based DEXes peaked with the debut of President Donald Trump&#8217;s TRUMP token in January.<\/p>\n<p>Meanwhile, Ethereum&#8217;s outperformance was driven by Uniswap, which <a href=\"https:\/\/defillama.com\/dexs\/chains\/ethereum\" target=\"_blank\">achieved<\/a> over $30 billion in trading volume, with Fluid taking the distant second spot with $9 billion in activity.<\/p>\n<p>Still, Ethereum&#8217;s ether token fell over 18% to $1,822 in March, registering bigger losses than Solana&#8217;s SOL token, which fell by 15.8%, per data source TradingView and CoinDesk.<\/p>\n<p><a href=\"https:\/\/x.com\/nic__carter\/status\/1905722880484348104\" target=\"_blank\">Per observers<\/a>, ether&#8217;s inflationary tokenomics and the growing popularity of Layer 2 solutions, which supposedly siphon activity from the main chain, are responsible for ether&#8217;s poor performance.\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Last month, Ethereum reclaimed its title as the leading smart contract blockchain for decentralized exchange (DEX) trading, as the market swoon dampened activity on Solana, the go-to platform for memecoin traders. Ethereum-based DEXes registered an industry-leading cumulative trading volume of $64.616 billion in March, beating Solana&#8217;s tally of $52.62 billion by 22%, according to data [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-19981","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/19981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19981"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/19981\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}