The Block data shows that by May 2026, the monthly DEX trading volume of Solana and Ethereum has nearly leveled off, with both around $45 billion. Meanwhile, Solana DEX trading volume as a proportion of Ethereum's has dropped to 94%, hitting a 12-month low, a significant decline from the peak of 218% in January 2026, indicating that Solana's previous on-chain trading advantage over ETH is narrowing.

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