Solana lost ground to Ethereum in Q3 DEX volume – An early sign of SOL/ETH’s Q4 breakout?

Key Summary

Solana's DEX volume surpassed Ethereum's in Q3, with Solana processing over $1.6 billion in spot DEX volume, a 50% increase from Ethereum. This early sign of Solana's growing influence could lead to a stronger SOL/ETH setup in Q4. Ethereum's 73% ROI in Q3 was surpassed by Solana's 60% return, indicating Ethereum's dominance may be waning. Solana's on-chain activity and recent stablecoin market growth, particularly on the Solana blockchain, could support a SOL/ETH breakout in Q4, with Solana alone capturing nearly 50% of the $815.7 million stablecoin market cap growth.