Competition Heats Up as Solana Activity Slows

[chainsniff]

Weekly crypto exchange-traded product flows, USD million. Source: CoinShares

Solana DEX volumes plunged 40% in a month, hitting $19.2B. At the same time, new rivals like Monad posted over $1B in first-week volumes.
Ethereum remains dominant with over $73B TVL, boosted further by its Fusaka upgrade, which improves scalability and wallet flows.
Add in newly approved spot ETFs for XRP, LTC and DOGE, and institutional attention is getting spread thin—leaving SOL with a tougher uphill climb.

[Nahid Hossen]

Rival chains are taking advantage of Solana’s temporary slowdown.

[Nahid Hossen]

Sustained activity is key for Solana to maintain its lead.