to leave a comment.
▲ Solana (SOL), Ethereum (ETH)
Solana (SOL) maintained its No. 1 market share in the decentralized exchange (DEX) market in the first quarter. However, with Ethereum successfully counterattacking in March, the competition for dominance is intensifying.
On April 20 (local time), crypto media outlet Cryptopotato reported this, citing CoinGecko data. Solana recorded a 30.6% market share in the spot trading market in Q1, maintaining its top position. However, the total trading volume decreased by 26.5% compared to the previous quarter. Within the market, the need to defend market share is being raised.
The trend changed starting in March. Ethereum (ETH) recorded a 27% market share in March, while Solana only managed 26%. Ethereum succeeded in a narrow reversal. BNB Chain (BNB) took second place with a 24.5% market share in Q1. Ethereum's quarterly market share was 23.7%. BNB Chain also showed a decline in trading activity.
In terms of technology, Solana's superiority is clear. Solana processed approximately 25.3 billion transactions in Q1, an overwhelming figure. BNB Chain only processed 1.7 billion transactions, and Tron (TRX) recorded 978 million transactions. High processing speed and low fees are attracting users.
Solana also showed strength in stablecoin activity. In February 2026, its trading volume reached $650 billion, an all-time high. This was more than a threefold increase compared to January. New assets such as Jupiter's JUPUSD drove capital inflows. Network activity also significantly increased.
Price trends are also robust. Solana has recovered to around $89.86. Institutional capital inflows are also continuing. Solana spot ETF assets, including Bitwise, have exceeded $1 billion. Securing scalability, such as connectivity with the XRP Ledger, is considered a key variable for the future.
The market environment is changing rapidly. The market share competition between Solana and Ethereum is expected to continue for some time. Network scalability and the speed of capital inflow are identified as key factors that will determine the future landscape.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
Newsletter
Get key news delivered to your email every morning
to leave a comment.