Solana News: Solana DEX Volumes Rival Ethereum’s, Hinting at Growing DeFi Dominance

In the ever-evolving world of cryptocurrencies, Solana has emerged as a formidable competitor to Ethereum. Recent data reveals that Solana’s decentralized exchanges (DEXs) have shown remarkable resilience, with trading volumes now rivaling those of Ethereum’s entire ecosystem. This development hints at Solana’s growing dominance in the decentralized finance (DeFi) space, despite a cooldown in the memecoin market. Let’s dive into the details.

Solana’s DEX Volumes Rival Ethereum’s Despite Memecoin Market Downturn

Solana’s decentralized exchanges (DEXs) have shown resilience, with trading volumes rivaling those of Ethereum’s entire ecosystem, including both Layer 1 (L1) and Layer 2 (L2) networks. This unexpected turn of events signals Solana’s growing dominance in the DeFi space. Meanwhile, memecoin mania has cooled down, but SOL’s price could still rally if it breaks key resistance levels and maintains its momentum.

Paws Listing Date Update: Claim $PAWS Before March 15 or Lose It

The Paws token is set to debut on March 18, 2025. PAWS, a Telegram mini-app, has gained popularity with over 85 million onboarded users and 50 million monthly active users. Claiming to exchanges begins on March 11, 2025, and closes on March 15, 2025. Deposits open on March 17, 2025, with the on-chain claim via Solana (SOL) starting on the listing date.

GrokCoin Surge Triggered by Elon Musk’s AI, Scam Fears Spark

GrokCoin, a meme coin on the Solana blockchain inspired by xAI’s Grok AI, experienced a $12 million surge after being mentioned by the AI in response to a user’s leading question. The AI also provided a wallet address for the token. However, this development has sparked concerns of fraudulent crypto and questioned the integrity of token launchpads such as Solana-based Pump.fun. Crypto scam alerts have been raised, with some questioning whether Grok AI accidentally pumped the token.

Solana’s Fee Structure Sparks Decentralization Concerns

Data shows that Solana generated significant fees in February and March, however, concerns have been raised about the concentration of fee-driving users. This has sparked debate about the blockchain’s fee model and its implications for decentralization. While Solana’s fee generation outpaces Ethereum in some comparisons, some experts caution that the growth may not be as organic as it seems.