Solana catches up Ethereum at strike volume: ETH stays behind on several fronts

The cryptomarkt shows carefully recovery after previous price falls. Nevertheless, Ethereum (ETH) has been left behind for quite some time. The value of the currency fluctuates around $ 1,800, more than 60 percent below the highest level ever.

At the same time, competitor Solana (SOL) is gaining ground. The network recently reached a milestone in the field of strike and thereby attracts the attention of investors.

Solana breaks strike record

On April 21, Solana reached a striking milestone: the total strike volume of SOL increased to nearly $ 53.96 billion, according to data from strike Rewards. This brought the network above Ethereum for the first time, which at that time had a strike volume of $ 53.77 billion. The difference is small, but symbolically telling the advance of Solana.

The growing interest in Solana is largely due to the attractive strike rewards. Those who secure their Sol can achieve a return of up to 8.8 percent. For comparison: at Ethereum the reward is around 3 percent. The low transaction costs also contribute to the accessibility of the network. The strike of tokens is fast and simple, so that users can effortlessly manage their funds.

Sol performs better than ETH

Solana Ethereum also remains ahead in terms of price development. Since the beginning of April, the value of SOL has risen by more than 50 percent – a sharp increase that underlines the momentum of the network. Ethereum recorded an increase of approximately 28 percent in the same period. Although that is still a positive result, it is clear in not the rapid rise of Solana.

Ethereum remains king of Defi

In the field of decentralized finance (Defi), Ethereum remains an undisputed market leader. According to Defillama data, more than $ 54 billion is fixed in Defi protocols on the Ethereum network.

At Solana, that amount is considerably lower by around $ 8 billion. Although that is a considerable increase compared to previous years, the network is clearly lagging behind in this area. A possible explanation is that many SOL holders choose to stop their tokens instead of using them within Defi applications. This limits the growth of the Defi-eco system on Solana for the time being.