Solana’s DEX ecosystem dominance nears 50% with record $200B trading volume
Solana’s DEX ecosystem dominance nears 50% with record $200B trading volume Oluwapelumi Adejumo · 9 hours ago Solana’s decentralized exchange (DEX) ecosystem has achieved a record-breaking milestone, surpassing $200 billion in trading volume. This milestone represents the highest monthly volume recorded across a single blockchain.Data from DeFiLlama revealed that Solana’s DEXs recorded $202.7 billion in total trading volume, more than tripling Ethereum mainnet’s $63 billion for the same period.Solana DEX Volume (Source: DeFillama)This represents a 100% jump from Solana’s previous record of $129 billion in November 2024 and cements the blockchain network’s nearly 50% dominance of the sector.Cody Poh from Pantera Capital noted that memecoins account for half of the DEX trading volume on Solana. The trend has been further amplified by US President Donald Trump‘s introduction of his memecoin on the blockchain network just before his inauguration.Solana Memecoins Trading Volume (Source: X/Cody Poh)Raydium, the leading DEX on the blockchain network, has significantly benefited from this growth. According to DefiLlama data, the platform accounts for more than 45% of the ecosystem’s trading volume, facilitating approximately $90 billion in trading activities this month.Latest InsightsLatest Alpha Market ReportDisclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.