Solana Dominates Daily DEX Trading Volumes
Solana has emerged as the leader in decentralized exchange (DEX) trading activity, recording $5.512 billion in volume within a single day. By comparison, Ethereum processed $4.438 billion, while Binance Smart Chain (BSC) followed closely at $4.344 billion.
Coinbase’s Base network trailed with $1.288 billion, underscoring Solana’s widening lead in on-chain activity. Analysts point to Solana’s speed and cost advantages as the key drivers of this surge.
Consistent Market Leadership in 2025
https://solana.com/This latest milestone is not an isolated spike but part of a consistent trend across 2025. Data from on-chain trackers like DeFiLlama reveal Solana consistently reporting nearly $30 billion in weekly volumes.
The network’s ability to maintain dominance over Ethereum highlights its resilience and growing ecosystem strength. Supporters argue this positions Solana as the premier blockchain for high-frequency trading activity.
Proof of History and Speed Advantage
Solana’s technological design continues to play a pivotal role in its success. Operating on a Proof of Stake (PoS) consensus combined with Proof of History (PoH), the chain can process up to 65,000 transactions per second (TPS). In contrast, Ethereum Layer 1 still requires scaling solutions to manage 15–30 TPS effectively.
Solana’s low fees, averaging $0.00025, further attract traders compared to Ethereum’s $1–$5 congestion costs. Recent upgrades such as Alpenglow, which cuts finality to under 400 milliseconds, and the Firedancer validator project are expected to make Solana even more scalable.
Institutional Capital Fuels Expansion
Institutional adoption is fueling Solana’s rapid expansion. On September 22, 2025, AInvest reported that Solana’s market capitalization had surged by $137 billion due to inflows from funds like Franklin Templeton’s Onchain Fund.
Publicly traded companies now hold approximately 1.44% of Solana’s total supply, with staking yields of 7–8% adding further appeal. Institutional inflows in Q3 2025 alone totaled $1.72 billion, drawing comparisons to Bitcoin’s 2021 ETF-driven rally.
Solana Apps Nearly Double Ethereum’s Revenue
Applications built on Solana generated $5.9 million in revenue within 24 hours, nearly double Ethereum’s $2.98 million. This revenue spike underscores Solana’s expanding ecosystem of decentralized applications (dApps) and financial protocols. Developers are increasingly drawn to Solana due to its low fees and high throughput, which allow for seamless user experiences. The growing revenue stream strengthens Solana’s case as a sustainable platform for developers and investors alike.
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Churn, Volatility, and Regulatory Pressure
Despite its rapid growth, Solana faces risks that could impact its long-term trajectory. Research from EPJ Data Science suggests that many Solana wallets are hyper-transient, with most active for less than a day. This high churn rate raises concerns about the stability of its user base.
Additionally, regulators are closely monitoring Solana ETFs in the U.S. and Europe, with stricter oversight potentially slowing institutional momentum.
The Road Ahead for Solana’s DeFi Dominance
By early afternoon on September 23, Solana’s on-chain activity showed no signs of slowing, with projections suggesting DEX volume could surpass $6 billion by day’s end. Enthusiasts have dubbed this surge “Solana Season,” highlighting the network’s pace, efficiency, and institutional backing.
While some speculate that short-term trading could inflate volumes, the data firmly positions Solana as a formidable competitor to Ethereum. With scalability upgrades and institutional support, Solana appears poised to extend its lead in decentralized finance.
