On-chain activity is clearly growing, nearly doubled.
DEX to CEX futures volume has climbed from 2.88% at the end of 2023 to over 5% now. Spot volumes show similar trends.
Recent SOL liquidations stress test: 55% were on-chain, and Solana handled it smoothly.
Will everything be fully on-chain? Unlikely. But on-chain will play a bigger role for retail and institutions alike.
