Solana’s DEX Dominance Sparks Caution as Traders Remain Skeptical

Solana has overtaken Ethereum in decentralized exchange volume, but this impressive feat is overshadowed by the network’s concerning short-term user retention. While offering high throughput and ultra-low fees at $0.043 per transaction, Solana sees a staggering 96% of addresses vanish within just one day. This rapid churn casts doubt on its long-term sustainability. Despite this surge in volume, SOL’s price lags behind Ethereum despite showing higher efficiency. The disconnect between on-chain numbers and market performance highlights growing skepticism among traders, who are hesitant to embrace Solana’s volatility driven by high-volume but short-lived user engagement.