Solana continues to dominate the ecosystem of decentralized exchanges (DEX), surpassing other historical networks such as Ethereum. Platforms like Jupiter also record a strong activity, with four new private AMMs having made their debut on the network. This dynamic is part of the recent emergence of the launch platforms, which have helped stimulate all trading activities.
In short
- Solana's DEX volumes reached $ 124.2 billion in July, retaining 10 months ahead of Ethereum's $ 87.1 billion.
- Newcomers like Humidifi and Tessera have generated several billion exchanges despite the absence of frontal interfaces.
- Raydium led the Solana dex market share to 32.2 %, while Meteora recorded the strongest growth (+145.9 %).
- Direct DEX exchanges jumped at $ 65.9 billion, exceeding for the first time this year the flow of aggregators.
Solana extends her domination in July, carried by new platforms
After a withdrawal in June, the volumes DEX on the Solana network rebounded in July. This recovery coincides with the arrival of new players on the market and a marked increase in the volume of exchanges.
According to Dune's on-chain data, the volume of exchanges on the Dex Solana reached 124.2 billion dollars in July, an increase of 56 % compared to the previous month. Ethereum, its main competitor, recorded $ 87.1 billion over the same period, accusing a delay of 42 %. Notable fact: Solana has been keeping this advance for ten consecutive months since October 2024.
Over the past two months, four new DEXs have emerged on the Solana network, each recording significant exchange volumes. With more than 6 billion dollars treated, Humidifi wins as a leader in new entrants.
Tessera arrives in second position with $ 2.5 billion. These two platforms have exceeded established actors like Lifinity and Phoenix. For the time being, these newcomers operate on Jupiter, without clean user interface.
Raydium remains the leader, Meteora signs the strongest growth
In July, Raydium retains its first place on the Solana dex market with 32.2 % market share. Meteora follows with 21.8 %, ahead of Orca at 15.2 %.
On the growth side, Meteora signs the best monthly increase with +145.9 %. Raydium displays +72 %, Orca +48.4 %, while Zerof and Solfi earn 32 %and 14.5 %respectively.
Conversely, Pump.fun and Pumpswap accuse 57.8 % and 39.3 % declines. The drop in pump.fun is largely due to the loss of market share for the benefit of LetsBonk.Fun, which has slowed down the launches of tokens and the trading activity on the platform.
Direct exchanges exceed the aggregators
A significant trend in the last month is the increased preference for direct exchanges compared to the order flows routed via the aggregators. As a reminder, the aggregators bring together trading orders, in particular those of private investors, before transmitting them to scholarships or market contents.
At the start of the year, the exchanges made via the aggregators were twice as many as those carried out directly on the DEX. Direct exchanges increased constantly, reaching almost parity with aggregated exchanges in June. In July, the trend was reversed: direct exchanges on DEX reached $ 65.9 billion compared to $ 7.5 billion for aggregators.
Solana dominates the exchange of July with a strong momentum
In July, Solana (soil) established itself as the most exchanged asset, with more than $ 58.4 billion in transactions, an increase of 92.7 % compared to the previous month. The assets backed by the Fiat arrive in second position with $ 29.7 billion, followed by the same at 26.2 billion. The boom of the same was mainly powered by the rivalry between Pump.fun and LetsBonk.fun.
At the time of writing, the soil is exchanged at 201 dollars, displaying an increase of more than 20 % since the beginning of the month.
Others NOTABLE TRENDS OF SOLANAaccording to CoinCodex:
- Fear and greed index: 73 (Haussier feeling).
- Performance over a year: +39 %, confirming solid long -term growth.
- Outperformance in front of 53 % of the 100 main cryptocurrencies over 12 months.
- Course above the simple mobile average at 200 days.
- 18 positive days over the last 30 days.
- Courses close to the highest cycle at $ 205.73, a sign of strong market confidence.
Solana's remarkable performance in July highlights the growing importance of its decentralized exchange ecosystem, especially as a quick and affordable blockchain network. In addition, the diversity of its trading options reinforces its positioning among the main blockchains dedicated to decentralized trading.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
