Solana is outpacing Ethereum in trading volume, fees, and active addresses, while Ethereum keeps a wide lead in DeFi liquidity, stablecoins, and tokenized real-world assets. A new Coinpedia research report shows the two chains competing on different fronts rather than one clearly beating the other.
Ethereum holds the capital, Solana drives the activity
Ethereum's DeFi total value locked stands at approximately $51.53 billion, compared with Solana's $6.13 billion. Despite that smaller base, Solana is generating higher DEX and perpetual trading volume over the reported seven-day period. Ethereum retains a substantial capital advantage, but Solana is turning a smaller liquidity pool into stronger short-term trading activity.
Solana outpaces Ethereum in DEX volume
Solana recorded $16.61 billion in seven-day DEX volume, against Ethereum's $9.03 billion. The same pattern showed up over 24 hours, with Solana generating about $2.46 billion in DEX volume versus Ethereum's $1.39 billion. Solana's seven-day volume ran roughly 1.8 times Ethereum's, though the report notes volume alone doesn't measure liquidity depth or sustainable demand.
Ethereum keeps the stablecoin and RWA edge
Ethereum's stablecoin market capitalization sits at approximately $146.94 billion, against Solana's $15.40 billion, giving Ethereum roughly 9.5 times more dollar liquidity for settlement and collateral. Ethereum also leads in tokenized real-world assets, with $13.50 billion in active RWA holdings compared with Solana's $1.58 billion. Solana's smaller pools in both categories leave room for growth as its on-chain activity expands.
Fees, revenue and addresses tilt toward Solana
Solana generated higher chain fees at $813,114 over 24 hours, compared with Ethereum's $408,665. Ethereum, however, recorded slightly higher chain revenue at $95,930 versus Solana's $91,716, showing that activity and retained revenue are separate measures. Solana also led in active addresses at 3.04 million against Ethereum's 599,384, with transaction counts of 113.95 million versus 1.96 million, though the report cautions that active addresses don't equal unique users.
Coinpedia's report says long-term strength for either chain will depend on organic fees, active users, and real economic demand rather than short-term volume spikes.
Source: Coinpedia Fintech News
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