Ethereum (ETH) competitor Solana (SOL) is sustaining its upward momentum as it overtakes layer-2 scaling solution Polygon (MATIC) in daily decentralized exchange (DEX) volume.
New data from blockchain tracking platform Artemis reveals that the smart contract platform has surpassed MATIC in both overall DEX volume and the number of daily transactions.
Artemis’ data shows that as of yesterday, Solana had a DEX volume of about $240.5 million, outpacing Polygon’s $137.5 million.
The numbers also show that Solana greatly surpassed Polygon – and other digital assets such as ETH and Avalanche (AVAX) – in terms of daily transactions. Solana has seen millions more daily transactions compared to its competitors, logging 19.5 million on November 2nd compared to ETH’s 1.05 million, MATIC’s 2.59 million, and AVAX’s 192,000.
Another chart that displays Solana’s recent upward momentum is that of market cap. Since the start of October, SOL has been outpacing its competitors in terms of
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