⭐️ Solana’s DEX Trading Volume Reaches Record High Surpasses $100 Billion
Solana’s DEX volume soared to $109.78B in Nov., outperforming Ethereum’s $55.5B.
Raydium dominated with $27B of the $41.6B weekly Solana DEX volume.
SOL price surged 61% post-election, hitting a new high of $263.
DEX ecosystem of Solana reached record-high monthly trading volumes in November, standing at over $109 billion. This was a 330 percent rise compared to September’s $25.43 billion and a 108 percent upsurge from October’s $52.49 billion, according to data from DefiLlama.
Solana also experienced an increase in volume, by which its monthly DEX volume was $14 billion higher than Ethereum with $55 billion monthly trade. This can be attributed to the networks’ scalability, the very low transaction fees, and the constantly increasing popularity of meme tokens.
Bull run? @Solana blockchain hit RECORD $110 billions in monthly DEX volume, compared to $55b from @ethereum and $35b from @base.$110b is small potatoes compared to the record $56 trillion in volume that stocks witnessed this September — Solsniffe
🔸 Raydium and Orca Dominate Solana’s DEX Market
Raydium dominates Solana DEX with a 63% weekly volume. It had $270 billion worth of transactions in a week and $780 billion for the month, and a total value locked of $2.37 billion.
Even though Raydium holds the highest trading volumes on Solana, 30 days trading volume of 78 billion USD are slightly less than Ethereum’s Uniswap, which has 81.7 billion USD. Orca, another Solana DEX, ranked second with a weekly trading volume of $6.81 billion and TVL of $388.88 million. In the last month, the trading volume on Orca has been $20.5 billion.
🔸 SOL Price Surges Amid Growing Onchain Metrics
Solana’s native token, SOL, saw a 61% price increase between Nov. 5 and Nov. 22, reaching an all-time high of $263. The rally mirrored broader market trends, fueled by Donald Trump’s U.S. presidential election victory and strong Solana network metrics.