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**Solana Outranks Ethereum in Key DeFi Profitability Metric**
A recent analysis has revealed a remarkable shift in the decentralized finance (DeFi) landscape. Solana, a blockchain-based platform known for its speed and scalability, has outperformed Ethereum, the largest smart contract platform, in key profitability metrics.
According to reports, Solana has surpassed Ethereum in terms of chain fees, with Solana’s average transaction fee now sitting at 0.00003 ETH ($0.13 USD), while Ethereum’s remains stuck at around 0.0001 ETH ($0.43 USD). This significant discrepancy is likely to have a profound impact on the DeFi ecosystem.
The data also shows that Solana has taken the lead in terms of decentralized exchange (DEX) volume, with the platform’s DEXs processing over $10 billion worth of transactions in the past 24 hours alone. In contrast, Ethereum-based DEXs saw a mere $2.5 billion in transaction volume during the same period.
These developments come as no surprise to many industry experts who have been following Solana’s rapid growth and increasing adoption rate. The platform’s ability to process significantly faster and cheaper transactions has made it an attractive option for DeFi users seeking more cost-effective solutions.
It remains to be seen whether Ethereum will counter this trend with its own protocol upgrades, as reported earlier today. However, it appears that the competition is forcing innovation in the space, ultimately benefiting the end-user.
In related news, renowned trader Peter Brandt recently predicted that Solana could double in value compared to Ethereum, citing its technical indicators and market momentum. These predictions may come to pass if the trend continues, but only time will tell.
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Source: https://u.today/solana-outranks-ethereum-in-key-defi-profitability-metric
