Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
Solana also boasts of higher capital efficiency than Ethereum and other chains, according to one research firm.show. Volume in Ethereum-based decentralized exchanges rose 3% to $19.4 billion over the same period. There are 17 DEXes on Solana. Orca, the largest, accounts for 88% of the total volume. On Ethereum, Uniswap leads the pack of 46 DEXes.were from Solana.
Solana also boasts a higher capital efficiency than Ethereum and other smart-contract blockchains. In other words, the blockchain can support higher trading volumes with a lower dollar value of assets locked in its DeFi ecosystem. "The DEX volume-to-total value locked ratio, has recently highlighted Solana's notable performance over Ethereum. This ratio, one measure of capital efficiency, suggests that Solana has recently begun to significantly outpace Ethereum, suggesting a higher level of operational efficiency within its ecosystem," Reflexivity Research said in a
The DEX volume to TVL ratio measures capital efficiency. , a measure of the broader crypto market, added 33%, CoinDesk data show.The SOL/ETH ratio hit a record high of 0.059 on Monday and was hovering near 0.053 at press time, according to data tracked by TradingView. Ethereum remains the world's biggest smart-contract blockchain in terms of the total value locked in the DeFi ecosystem. At press time, the TVL in Ethereum stood at $46.44 billion versus $3.6 billion in Solana.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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