Ethereum Remains Top DEX Chain With 35% Dominance: Can Others Challenge This?

Ethereum
is
struggling
to
break
through
key
resistance
levels,
even
after
the
recent
crypto
market
surge
led
by
Bitcoin.
While
ETH’s
price
remains
under
pressure,
there’s
encouraging
news
for
investors.
Recent
data
from
IntoTheBlock
highlights
Ethereum’s
continued
dominance
in
decentralized
exchange
(DEX)
volume,
reinforcing
its
position
as
a
major
player
in
the
DeFi
space. 

This
insight
is
vital
for
those
concerned
about
Ethereum’s
price
underperforming
compared
to
Bitcoin
and
other
altcoins.
The
data
suggests
that
despite
the
current
price
struggles,
Ethereum’s
network
remains
robust
and
highly
utilized,
especially
in
DeFi. 

This
broader
market
perspective
can
help
investors
stay
informed
and
make
better
long-term
decisions,
focusing
not
only
on
price
but
also
on
Ethereum’s
underlying
strength
and
growing
utility.
As
the
market
continues
to
evolve,
Ethereum’s
role
in
DeFi
could
remain
a
critical
factor
driving
future
price
action.

Ethereum
DEX
Dominance
Could
Be
Challenged

One
of
the
core
products
born
out
of
DeFi
is
the
decentralized
exchange
(DEX),
allowing
users
to
trade
assets
permissionlessly
without
the
need
for
intermediaries.
DEXs
also
enable
users
to
become
market
makers
by
supplying
liquidity
to
asset
pairs,
earning
fees
from
trades
between
those
pairs.

According
to
a
recent
IntoTheBlock
report
on
X,
Ethereum
remains
the
dominant
force
in
DEX
volume,
controlling
almost
35%
of
the
total
market
share.
However,
other
blockchain
networks
are
increasingly
challenging
Ethereum’s
dominance.
Solana,
in
particular,
is
emerging
as
a
strong
competitor,
steadily
solidifying
its
position
within
the
DEX
space.
Solana’s
increasing
volume
highlights
its
growing
relevance
despite
Ethereum’s
longstanding
influence.

Other
blockchains,
such
as
Arbitrum
and
Binance
Smart
Chain
(BSC),
also
hold
a
substantial
share
of
the
DEX
market,
with
Arbitrum
accounting
for
14%
of
total
DEX
volume
and
BSC
capturing
11%.

These
networks
continue
to
gain
momentum
as
they
offer
faster
transaction
speeds
and
lower
costs,
making
them
attractive
alternatives
for
decentralized
trading.
While
Base,
a
new
player,
experienced
rapid
early
growth,
it
has
since
leveled
off,
indicating
the
fierce
competition
within
the
DeFi
landscape.

The
competition
to
lead
in
the
DEX
market
is
intensifying,
with
various
blockchain
ecosystems
striving
to
grow
their
market
share.
Ethereum’s
vast
liquidity
and
established
user
base
give
it
a
strong
advantage,
but
Solana,
Arbitrum,
and
BSC
are
rapidly
gaining
ground. 

ETH
Technical
Analysis

Ethereum
(ETH)
is
currently
trading
at
$2,427
following
a
5%
surge
on
Friday.
Despite
this
recent
uptick,
ETH
has
been
underperforming
during
this
cycle,
with
the
latest
price
action
showing
similar
struggles.
The
price
has
faced
difficulty
breaking
past
the
$2,460
resistance
and
has
yet
to
test
the
4-hour
200
exponential
moving
average
(EMA)
at
$2,534.

This
persistent
resistance
is
fueling
fear
and
uncertainty
among
investors,
suggesting
a
potential
retrace
to
lower
levels.
Support
levels
to
watch
include
$2,300
and,
if
further
declines
occur,
a
deeper
dip
around
$2,150.

Conversely,
if
ETH
manages
to
reclaim
and
hold
above
the
4-hour
200
EMA,
the
outlook
could
shift
positively.
Successfully
surpassing
this
critical
level
might
position
ETH
for
a
potential
rally
toward
$2,600
or
even
higher,
providing
a
more
bullish
scenario.
The
market’s
direction
hinges
on
whether
ETH
can
maintain
momentum
above
the
EMA
or
if
it
will
face
continued
resistance
and
a
possible
consolidation
at
lower
levels.

Featured
image
from
Dall-E,
chart
from
TradingView