70M daily transactions, $143B volume: How Solana won DeFi’s throughput race
Solana leads in DeFi throughput with 70M daily transactions and $143B monthly DEX volume, driven by its architecture and market catalysts.Summary
Solana has achieved significant throughput dominance, processing about 70 million daily transactions and recording $143 billion in monthly DEX volume as of late October, surpassing Ethereum's base layer volume despite Ethereum routing most activity through Layer-2 rollups. Solana's success is attributed to its infrastructure, including Sealevel's parallel execution, sub-second blocks, and stake-weighted Quality of Service (QoS), which avoids rollup fragmentation by maintaining a unified trading venue.
Following a five-hour outage in February 2024, Solana implemented QoS and is testing client diversity, notably with Jump Crypto's Firedancer client, which has shown potential for 1 million TPS in lab tests. The network uses a fixed base fee plus optional priority fees, though congestion response mechanisms like QoS and SIMD-96 routing have been introduced to manage load and redistribute validator revenue.
While Solana's monolithic model offers unified liquidity, it requires high validator hardware. Ethereum's rollup model fragments liquidity but distributes complexity. Future monitoring will focus on Firedancer adoption, the impact of fee market improvements, and whether Solana can sustain its scaling advantages without adopting multi-layer fragmentation.
(Source：CryptoSlate)