Solana is solidifying its dominance in decentralized exchange (DEX) trading volume, reporting a total of $60 million this month, significantly outpacing Ethereum's $34 million. This continued success comes amidst the broader crypto market's struggles to engage traders. Notably, in January, Solana recorded a trading volume of $258 billion compared to Ethereum's $86 billion, supported by vibrant memecoin trading activity. Furthermore, Solana has generated more revenue than Ethereum this month, bringing in $124 million compared to Ethereum's $109 million. Despite Solana's low fees and high throughput attracting developers and users alike, the total value locked (TVL) in Solana, at $9 billion, is still markedly lower than Ethereum's $57 billion. Analysts observe that Solana's advances bolster the bullish stance on the SOL-ETH ratio, which peaked at 0.09 in January before retracting to 0.075 recently.

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