Solana surpassed Ethereum in monthly decentralized exchange (DEX) transaction volume for the first time.
According to data from DefiLlama, Solana's DEX trading volume reached $55.87 billion in July 2024, surpassing Ethereum's $53.86 billion. Other notable performers include Arbitrum at $24.56 billion, BSC at $17.88 billion, and Base at $15.55 billion.
Solana's meteoric rise has sparked intense debate within the cryptocurrency community, particularly regarding the future of exchange-traded funds (ETFs). Scott Melker, host of The Wolf of All Streets Podcast, recently discussed this topic with VanEck's Head of Digital Assets Research, Matthew Sigel. The meeting discussed the potential of Solana ETFs, the current status of Bitcoin and Ethereum ETFs, and VanEck's innovative strategies to maintain its leadership in the crypto space.
During the podcast, Melker also highlighted Sigel's bold prediction regarding the imminent arrival of Solana ETFs. “You may be surprised that Solana ETFs may arrive sooner than you think,” Sigel previously said.
Citing skepticism from some industry leaders, Sigel said, “We disagree with the idea that Bitcoin and Ethereum will be single ETFs. The market in Europe already has a variety of crypto ETPs, including single coin and basket options, and we are embracing this innovation in the US.” We aim to lead the way.” said.
*This is not investment advice.
