Solana Surpasses Ethereum in 7-Day DEX Volume, Elon Musk Mentions $WIF

Solana (SOL) has recently surpassed Ethereum (ETH) in 7-day decentralized exchange (DEX) volume. SOL's 7-day DEX volume has outpaced ETH, and SOL's market cap is currently one-sixth of ETH's, with a 17% market cap of ETH. Trading volume on Raydium, a Solana-based DEX, reached $731 million, compared to $576 million on Uniswap V3 and $289 million on Uniswap V2. Analysts expect SOL's market cap to peak at 50% of ETH's this cycle. Additionally, Elon Musk mentioned during a livestream that he has heard of the Solana memecoin Dogwifhat ($WIF), which led to $2.2 million in immediate market activity.