Solana DEX Hits $5B+ Daily Volume for 3 Straight Days

Solana DEX Sets New Record: Over $5B for Three Consecutive Days

DeFiLlama’s data revealed that Solana DEX trading volume hit an all-time high, reaching:

• $5.14 billion on November 11th
• $6.88 billion on November 12th
• $7.03 billion on November 13th

Raydium, the leading decentralized exchange on Solana, accounted for a significant portion of this volume, capturing more than 62% of the total daily trading activity. Over the past seven days, Raydium recorded an impressive $19.56 billion in cumulative trading volume, a 127% increase.

Raydium’s total value locked (TVL) stood at $1.89 billion, with over $188 billion in cumulative volume since its launch. Orca, another major DEX on Solana, came in second place, accounting for over 22% of the total trading volume with $1.57 billion in daily volume.

Solana DEX Outperforms Ethereum in Trading Volume

For the past month, Solana’s DEX ecosystem has outperformed Ethereum’s in daily trading volume. According to Artemis.xyz, Solana’s trading volume surpassed Ethereum’s for four consecutive days in November, marking a shift in the DeFi landscape. Ethereum’s DEX volumes dipped below Solana’s on multiple days throughout the month, with Solana consistently leading the way in total DEX trading activity.

Key highlights from the data include:

• November 1st: Solana led Ethereum by $0.2 billion in DEX trading volume, with $1.7 billion for Solana versus $1.5 billion for Ethereum.
• November 2nd: Ethereum’s DEX volume fell below $1 billion, while Solana remained strong.
• November 9th: Solana’s volume jumped to $4.6 billion, almost double Ethereum’s $2.4 billion.
• November 13th: Solana’s DEX trading volume reached $6.9 billion, more than double Ethereum’s $3.4 billion.

Solana’s Dominance in DEX Trading Volumes

Solana’s DEX trading volumes have consistently outperformed Ethereum, with DeFiLlama reporting that Solana’s volumes have led the pack for three consecutive weeks. This surge is a testament to the growing interest in Solana’s ecosystem, particularly as decentralized exchanges like Raydium and Orca continue to gain traction in the market.

As the DeFi space continues to evolve, the bullish momentum behind Solana’s blockchain and DEX platforms shows no signs of slowing down. According to Mario Nawfal, host of the Round Table Show, the Solana ecosystem is making significant strides and will likely continue to perform well in the coming weeks:

“The Solana ecosystem is making waves and it will probably take a while before bullish momentum reaches its natural conclusion.” – Mario Nawfal

Conclusion: Solana DEX Leads DeFi Market Growth

Solana’s record-breaking performance in DEX trading volumes highlights the rapid growth of the blockchain’s DeFi ecosystem. With platforms like Raydium and Orca leading the charge, Solana is positioning itself as a major player in the decentralized exchange space, even outperforming Ethereum in daily trading volumes.

As more investors flock to Solana’s blockchain for its speed and low-cost transactions, the Solana DEX ecosystem is expected to continue expanding. The recent surge in trading volumes indicates a strong future for decentralized finance on Solana, potentially changing the DeFi landscape for the long term.