Kaspa (kas) 
Solana’s Decentralized Exchange (DEX) Volume Hits $806.8 Billion in 2025
Solana’s (SOL) ecosystem has achieved a significant milestone in network activity this year. As of May 7, 2025, the total DEX trading volume on Solana reached $806.8 billion, representing an impressive increase of nearly 400% compared to the same period last year, which recorded $201 billion.
January Leads the Way in DEX Activity
January 2025 was the most active month for Solana’s decentralized exchanges, accounting for over half of the year’s total volume at $408 billion. This surge in activity coincided with a cryptocurrency market rally that began in November 2024, peaking in January 2025. The rally boosted both trading activity and dollar-denominated DEX metrics.
By March 2025, trading volumes returned to pre-rally levels. In terms of SOL-denominated volume, there was a noticeable spike around January 20, which later normalized to prior levels.
Jupiter Dominates Solana’s DEX Landscape
In 2025, Jupiter emerged as the leading decentralized exchange within the Solana ecosystem. The platform processed $334.6 billion in trading volume, accounting for 55% of all DEX activity on Solana. OKX followed at a distant second, handling $32.2 billion or 5.21% of the total volume. Notably, memecoin launchpad Pump.fun contributed $22.3 billion in trading volume, capturing 2.8% of the market.
Execution Layer Insights: Raydium Takes the Lead
At the execution layer, Raydium maintained its dominance with $352.8 billion in trading volume. Meteora secured the second spot with $113.7 billion, representing 14.17% of the total. Orca and SolFi followed closely, processing $103.9 billion (12.95%) and $97.9 billion (12.20%) respectively. These platforms continue to drive innovation and adoption within Solana’s ecosystem.
Solana’s Growing Ecosystem Adoption
The growth in Solana’s DEX volume aligns with its rising adoption across the broader cryptocurrency landscape. In Q1 2025, Solana ranked second among all blockchain networks, trailing only Ethereum. While Ethereum accounted for 30% of DEX volume across all chains, Solana managed an impressive 23% share, solidifying its position as a major player in decentralized finance (DeFi).
With sustained growth in trading activity and increasing adoption rates, Solana’s ecosystem continues to attract attention from investors and developers alike. Its ability to handle high volumes efficiently positions it as one of the most promising blockchain networks in the finance and cryptocurrency sectors.
