Decentralized exchange (Dex) Volumes at Ethereum have jumped Solana for the first time since April after a quick shift in mood away from Solana-based Memecoins and against Ether ETH In the middle of a wave of institutional activity.
Over the past 48 hours, Ethereum-based DEXS has relieved $ 24.5 billion in trading volume compared to Solana’s $ 10 billion figures, according to Defillama.
The two weeks before were also dominated by Ethereum, with a total of $ 28 billion and $ 27 billion that knocked Solana’s total amount of $ 20 billion and $ 24 billion.
This represents a contrast in the trader behavior of earlier this year, which was dominated by the Solana and the BNB chain in a wave of speculative Memecoin trade.
However, institutional flows into the spot -ether ETFs bent the second largest cryptocurrency and lifted it to $ 4,680 this month after a 53% gain over the past 30 days.
Coinglass data shows that Monday’s net inflow to ETFS peaked $ 1 billion for the first time ever, this was followed by more merciless purchases on Tuesday with another $ 523 million influx.
Solana seems to have lost her magic in the second quarter of this year. In January, for example, Dex Volume peaked $ 98 billion in one week and $ 84 billion in the next one. This hype decreases after US President Donald Trump released Trump Memecoin, who ultimately lost more than 88% of its value over the next seven months, a moment that wiped out investor’s confidence in Memecoins.
Uniswap remains the most commonly used DEX at Ethereum, where $ 8.6 billion is traded over the last 24 hours, with the next best liquid that peaked $ 1 billion in the same period.
The change in behavior could bode well for Ethereum-based stacking symbols, which experienced a boost after SEC clarification last week. Tokens like LDO, the control token for Liquid Staking Protocol Lido has increased by 65% over the past week.
