Retail users are ignoring Ethereum and Bitcoin to prioritize Solana — Report

Solana topped the rankings for Q1 2024, driven by increased activity in decentralized exchanges (DEXs) and decentralized exchanges (DeFi). The platform’s improved scalability, minimal transaction costs, and robust technological framework were other catalysts for this surge.

According to the latest report “State of Solana, Q1 2024” published by blockchain analytics firm Messari, Solana’s DEX trading volume has reached impressive numbers in line with the increase in trading volume within the SOL ecosystem. Additionally, according to the report, Solana’s average daily spot DEX trading volume surged more than 300%, reaching $1.5 billion. According to Messari, “Solana has become the number one choice for retail users.”

Patent.