In the grand theater of cryptocurrency, where fortunes are made and lost faster than a magician’s trick, the latest act has unfolded. CoinGecko, that ever-watchful oracle, has unveiled its 2025 Quarter 1 (Q1) report, revealing that Solana (SOL) is not just outpacing Ethereum (ETH) — it’s practically sprinting ahead with a flourish! 🎩✨
According to this riveting report, Ethereum has managed to lose all its gains from the previous year, while the rest of the crypto market cap merely took a gentle tumble of 18.6% in the early months of 2025. Talk about a dramatic entrance! 🎭
“ETH closed 2025 Q1 at a mere $1,805, a staggering -45.3% decrease within the quarter, having plummeted from a lofty $3,336. It has erased its gains from 2024, returning to levels last seen in 2023. Meanwhile, it has severely underperformed against the likes of BTC, SOL, XRP, and BNB, all of whom have gracefully declined to a much lesser degree. What a fall from grace!”
“Trading volume, too, has taken a nosedive, dropping from a daily average of $30.0 billion in 2024 Q4 to a paltry $24.4 billion in the latest quarter. On days when volume spiked, the price of ETH took a dive that would make a seasoned diver envious.”
But fear not, for Solana has continued its reign over the decentralized exchange (DEX) realm, like a king surveying his domain.
“Continuing the trend from the end of 2024, Solana has maintained its dominance in DEX trades, hitting a staggering 52% dominance in January 2025; newcomers Sonic & Bera have made their mark, much to the chagrin of Ethereum.”
“In Q1 of 2025, Solana was the undisputed champion of DEX trading, boasting a market share of 39.6% for the quarter. It grew +35.3%, from $217.0 billion in Q4 to a whopping $293.7 billion in Q1. Quite the impressive feat!”
“In January, Solana accounted for 52% of on-chain trades among the top 12 blockchains, driven by the ‘political memecoin’ frenzy led by none other than TRUMP. It recorded over $184.8 billion in trading volume, an all-time high for the chain. This caused Ethereum’s market share to drop below 20% for the first time. Oh, the irony!”
“However, as the meme coin trend receded like a tide, Ethereum managed to reclaim the top spot in March, with a 30.1% market share compared to Solana’s 23.4%. A comeback worthy of a dramatic novel!”
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2025-04-17 21:41