Solana has maintained its position as the leader in decentralized exchange (DEX) trading volumes for five consecutive months, surpassing Binance Smart Chain (BNB) and Ethereum (ETH).
In February, Solana generated $280.32 million from app revenue, surpassing Ethereum and Binance Smart Chain combined.
A total of $700 million worth of assets were bridged to Solana in February, including $400 million from Ethereum.
Despite market competition, Solana's performance in DeFi sector remains strong, and it is awaiting approval for a Solana ETF.