Solana's light is fading, can Ethereum fight back?
In the world of cryptocurrency, a silent battle is taking place. Solana, once a shining star, surpassed Ethereum with a staggering 47% increase in early 2025, but now its momentum seems to have hit a snag.
Solana: no more glory?
Despite Solana's once-glorious past, recent data shows that its DEX trading volume has fallen sharply, even plummeting 38% in a week. This trend is not limited to Solana, and multiple DEXs within its ecosystem, such as Raydium and ORCA, have also encountered similar difficulties. More worryingly, Solana's price correlation with Ethereum is increasing, which means that Solana's unique advantages are gradually disappearing.
What caused Solana's decline? On the one hand, the market downturn and the spread of investor caution have reduced the user activity of Solana-based DEXs. On the other hand, some negative events, such as investor losses caused by the controversial Libra token promoted by the Argentine president, have also damaged Solana's reputation.
Ethereum: Comeback?
Meanwhile, Ethereum is trying to break out of the trough. Despite challenges such as network congestion, Ethereum's trading price is still rising steadily, and technical indicators are showing early signs of bullish momentum. More importantly, the Ethereum Foundation is actively promoting the scalability and interoperability of Layer 2, injecting new vitality into the ecosystem.
In addition, a large amount of Ether is expected to be injected into the DEFI protocol, which will further consolidate Ethereum's market position. Despite the rise of competitors such as Solana, Ethereum is still expected to have a place in the future competition with its deep technical foundation and huge user base.
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