In a recent announcement, Celestia's Chief Operating Officer, Nick White, caused a stir in the blockchain community by confidently announcing that Solana (SOL) will succeed Ethereum (ETH) on the throne. White's announcement comes amid Solana's impressive achievements in scalability and adoption of blockchain technology.

He praised the potential of Solana, stating: “Solana is the new Ethereum.” White drew parallels between Solana and Ethereum, highlighting the significant similarities in block filling on both networks, noting: “Solana blocks are populated the same way as Ethereum blocks.” This highlights the need for rapid adoption of Solana and growing transaction volumes.

White's confidence in Solana's potential as the next Ethereum is bolstered by information from the Solana blog, where he highlighted the network's impressive computing power. He noted that the units recently reached a total compute resource limit of 48 million CUs during periods of congestion.

In addition, the blog put forward strategies for optimizing program efficiency to increase transaction throughput, demonstrating Solana's commitment to scalability and accessibility for users. White urged observers to “admire and respect” the project’s progress in blockchain technology.

The co-founder of Solana Labs expressed a friendly attitude towards Ethereum volumes after Solana DEX reached the $50 billion milestone. Data released on Saturday showed that trading volumes on the Solana DEX rival the Ethereum DEX. This indicates a surge in trading activity driven by the significant increase in Solana's market capitalization.

Transaction volume on the Solana DEX blockchain has reached an all-time high, coinciding with the recent trend of significant growth in the cryptocurrency market over a short period. The surge follows the previous week's data, which saw Solana's weekly DEX volume exceed $13.3 billion.

According to DeFiLlama, trading volume at that time was $50 billion, highlighting the growing importance of blockchain technology in the decentralized finance (DeFi) sector.