Solana is on its way to expanding its four-month run across Ethereum and other smart contract Blockchains in decentralized exchange (DEX) volume, even when the range of crypto market struggles to capture the trader enthusiasm.

Solana-based DEXS has sent a total trading volume of just over $ 60 million this month, almost twice as much as $ 34 million in Ethereum, the largest smart contract Blockchain, according to Data Source Defillama.

“Solana’s lower fees and higher flow are attracting developers and users and highlighting its growing role in decentralized funding,” Tagus Capital said.

Solana has had her pole position since October. However, in January, Solana-based DEXS achieved $ 258 billion trading with Ethereum after only $ 86 billion.

Solana’s dominance, powered by Frenzied Memecoin Trading, is not limited to transaction volume. Despite its reputation as a cheap blockchain, Solana has generated $ 25 million in revenue so far this month compared to Ethereums $ 16 million. In January, Solana earned $ 124 million, Ethereum $ 109 million.

The performance supports the Bullish case in the Sol-eth ratio that peaked near 0.09 in January and has since withdrawn to 0.075, data from the Charting Platform TradingView Show.

Still, Tagus Capital noted that Solana’s total value locked (TVL) of $ 9 billion remains much lower than Ethereum’s $ 57 billion.