Blockchain Showdown: Unichain Dethrones Ethereum in DEX Race

In a tale as old as time, the upstart Unichain has staged a coup on the Ethereum throne, according to the all-seeing eye of Nansen.

Unichain, with its mainnet birth on the eleventh day of February, gathered a modest flock of 236,452 active addresses in its first month. A speck in the cosmos compared to Solana’s 112 million adherents and the roughly 19 million active souls on Base and BNB Chain. 🌟

Yet, in the grand game of decentralized exchange (DEX) volume, Unichain has already proven itself a Goliath, recording a staggering $217.7 billion—knocking Ethereum’s base layer into the dust at a mere $91.2 billion. Take that, Ethereum! 😏

Berachain, another debutant in the early days of February, toted a 30-day DEX volume of $3.78 billion, securing the eighth position in the industry. With 1.7 million active addresses, it seems to be a case of quantity over quality. 🤔

BNB Chain, a seasoned player, was the sole network to increase its DEX volume, soaring 161% to $233.9 billion. A close second in volume, it seems the old dog still has a few tricks up its sleeve. 🐶

Once the king of DEX, Uniswap was dethroned by the high fees of Ethereum, sending users scurrying to cheaper pastures like Solana and BNB Chain. But with the advent of Ethereum layer-2 solutions and Unichain, Uniswap has reclaimed its crown, offering lower fees and transactions faster than a hiccup. 🏹

As for Solana, the once bustling hub of memecoin trading has cooled, with active addresses, transactions, and DEX volume all taking a nosedive. It seems the party is over, and the cleanup has begun. 🎉🛑

With investor appetites waning and controversies swirling, Solana’s token launch activity and market sentiment have taken a dive. Perhaps it’s time for a new chapter in the blockchain saga. 📚

2025-03-10 13:57

Read More