# Solana Dominates Weekly DEX Market Volume, Sui Also Soars

Solana achieved a weekly trading volume of $30.5 billion in the decentralized exchange (DEX) market, securing the top spot from January 4 to January 10. Meanwhile, Sui, known as a potential “Solana killer,” saw its trading volume surge by 46% during the same period, attracting significant industry attention.

# Solana’s Dominance in DEX Market

Solana recorded a DEX trading volume of $30.519 billion, significantly outpacing Ethereum, which ranked second. Solana’s total value locked (TVL) in DEXs stood at $2.75 billion, accounting for 33.97% of the entire market. This dominance is attributed to Solana’s robust ecosystem, built on low transaction costs and high processing speeds.

To further scale the network, the Solana Foundation announced the SIMD-0215 proposal. This proposal introduces the “Account Lattice Hash” method, designed to handle large-scale accounts and transactions in real time. Experts predict this improvement will enhance the competitiveness of Solana’s decentralized finance (DeFi) services and application ecosystem.

# Base and Sui Show Remarkable Growth

Ethereum registered a weekly trading volume of $16.628 billion, marking an 11.66% increase and securing the second position. Ethereum’s DEX TVL reached $12.47 billion, maintaining its strong foothold in the decentralized market.

Move language-based Layer 1 blockchain, Sui, saw a remarkable 46.70% spike in weekly trading volume, reaching $3.153 billion. Although Sui’s DEX TVL is relatively low at $452.5 million, it is experiencing rapid growth.

Ethereum Layer 2 solution, Base, posted a weekly trading volume of $12.167 billion, up 12.17%, ranking third. Base’s DEX TVL was $1.925 billion, reflecting stable growth.

# Hyperliquid Sees Decline in Volume

After showing explosive growth last week, Hyperliquid experienced a 9.89% decline in weekly trading volume, amounting to $1.611 billion. However, its DEX TVL remained steady at $1.458 billion, indicating a consistent inflow of assets.

Binance Smart Chain (BSC) witnessed a 25.27% decrease in weekly trading volume, tallying up to $9.755 billion. Despite this decline, BSC’s DEX TVL stood strong at $1.964 billion, maintaining a robust ecosystem.

Thorchain, on the other hand, demonstrated vigorous growth with a 45.53% increase in weekly trading volume, reaching $772.4 million. Similarly, Avalanche recorded a 14.77% rise, with a trading volume of $1.278 billion, continuing its consistent growth trajectory.

# DEX Trading Volume Accounts for 41% of Total Crypto Transactions

As of January 10, the total value locked (TVL) in all crypto assets was reported at $117.137 billion. The weekly DEX trading volume was recorded at $87.391 billion, reflecting a 11.38% increase from the previous week.

DEXs now account for 41.47% of the trading volume compared to centralized exchanges. This shift indicates a growing preference among investors and traders for decentralized platforms. The expansion of the DEX market is expected to continue as a diverse array of blockchains, including Solana, drive further growth.