# Onchain Alpha: Solana vs. Ethereum

**Published by:** [Layer3](https://paragraph.com/@layer3xyz/)
**Published on:** 2023-11-17
**URL:** https://paragraph.com/@layer3xyz/onchain-alpha-solana-vs-ethereum

## Content

Crypto's recently has been electrified by Solana’s resurgence. With lightning-fast, nearly-free transactions powered by an innovative developer community — the future of finance is finally here on Solana. The so-called “Ethereum killer” has gained dominance by multiple key metrics. It’s time for some SOL searching…SOL surpasses ETH by active usersBoth Solana and Ethereum unlock vibrant ecosystems for DeFi, NFTs, gaming, and more. However, Solana enables much faster and cheaper transactions at scale. As a result, active users on Solana have recently surpassed Ethereum.Source: Artemis.xyzOnchain transactions at scaleSolana processes onchain activity at a great magnitude. While Ethereum processes around one million transactions per day, Solana reaches up to twenty million.Source: Artemis.xyzLast week, users spent nearly $9.00 per average Ethereum transaction – compared to less than $0.01 on Solana. For crypto’s value proposition to be fully unlocked, there should be minimal friction for global users. Enter Solana. Decentralized exchange volume on Solana hit all-time highs of nearly $500 million per day. The growth is primarily driven by Raydium and Orca as leading Solana DEXes.Source: DefiLlamaIn addition, Jupiter Exchange presents an innovative solution for optimally trading across multiple DEXes at once. Jupiter enables users to swap tokens with minimal fees and slippage by drawing liquidity from the broader exchange ecosystem. Decentralized money markets on Solana have also been experiencing significant growth. MarginFi has fast-emerged to become one of Solana’s most popular dapps, enabling users to lend and borrow tokens at optimal rates with minimal fees.Source: DefiLlamaGateway to SolanaWe are building a leading portal to the vibrant Solana smart contract ecosystem. Seamlessly bridge to SOL and explore leading decentralized apps:Introduction to Solana: Unlock blazing-fast and affordable transactionsHow To Fund Your Solana Wallet: Bridge from popular EVM chainsSwapping on Solana: Discover leading decentralized exchangesIntro to MarginFi Money Market: Unlock decentralized borrowing and lending

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