{"id":45167,"date":"2025-06-28T12:00:53","date_gmt":"2025-06-28T09:00:53","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=45167"},"modified":"2025-06-28T11:07:08","modified_gmt":"2025-06-28T08:07:08","slug":"solana-surpasses-ethereum-in-dex-volume-but-faces-challenges","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/solana-surpasses-ethereum-in-dex-volume-but-faces-challenges\/","title":{"rendered":"Solana Surpasses Ethereum in DEX Volume but Faces Challenges"},"content":{"rendered":"

In the last 30 days, Solana achieved<\/strong> a significant milestone by surpassing Ethereum in DEX trading<\/strong> volume. According to DefiLlama data, Solana recorded $64.1 billion in trading volume, exceeding Ethereum\u2019s $61.4 billion<\/strong>.<\/span><\/p>\n

Leading protocols included Raydium<\/strong> ($19.1B), Pump.fun<\/strong> ($14.2B), and Orca<\/strong> ($13.9B). BNB Chain<\/strong> maintained its top position with $159.6 billion volume, while Solana rose to second place by increasing its market share throughout June.<\/span>\u00a0<\/span>Despite this rise, overall network activity remained 91% lower compared to January.<\/span>\u00a0<\/span><\/p>\n

\"\"
Dex Volume – DefiLlama<\/a><\/figcaption><\/figure>\n

Declines in the memecoin market<\/strong> have increased pressure on Solana. Over the past 16 days, tokens like Giga (-42%)<\/strong>, Popcat (-35%)<\/strong>, Fartcoin and PNUT<\/strong> (-31%), Bonk and WIF<\/strong> (-25%) lost significant value. This decline shook investor confidence despite rising DEX volume<\/strong>. Additionally, Hyperliquid\u2019s<\/a> dominance in the perpetual futures market, with trading volume surpassing competitors by 84%<\/strong>, has deepened threats to Solana. This success sparked speculation that some projects may build independent chains separate from Solana.<\/span>\u00a0<\/span><\/p>\n

What\u2019s Next for SOL Price?<\/span>\u00a0<\/span><\/h2>\n

Since June 12, SOL price<\/strong> dropped 15%, falling to $143.03, driven by declining memecoin interest and low network activity. Negative funding rates in derivatives markets indicate weakening demand for leveraged long positions. However, the SEC\u2019s<\/strong> decision on a Solana spot ETF<\/a><\/strong>, expected in October, is seen as the biggest catalyst for price movement. Davo from Drift Protocol<\/strong> highlighted Solana\u2019s robust infrastructure enabling token usage on the collateral side.<\/span>\u00a0<\/span><\/p>\n

\"\"
SOL token perpetual funding rate chart \u2013 Source: Laevitas.ch<\/strong><\/a><\/figcaption><\/figure>\n

Although Solana\u2019s DEX volume attracts attention, memecoin declines and the Hyperliquid threat make investors cautious. Analysts note that due to low fees and high scalability, SOL has potential to retest $180 before October.<\/span>\u00a0<\/span><\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

In the last 30 days, Solana achieved a significant milestone by surpassing Ethereum in DEX trading volume. According to DefiLlama data, Solana recorded $64.1 billion in trading volume, exceeding Ethereum\u2019s $61.4 billion. Leading protocols included Raydium ($19.1B), Pump.fun ($14.2B), and Orca ($13.9B). BNB Chain maintained its top position with $159.6 billion volume, while Solana rose<\/p>\n","protected":false},"author":36,"featured_media":38807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[657,2],"tags":[19402,19397,19391,19392,19393,19401,19398,19400,19399,19394,9211,6425,19395,19396,19390],"class_list":["post-45167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-en","category-news","tag-bnb-chain-market-share","tag-drift-protocol-sol","tag-ethereum-vs-solana","tag-hyperliquid-threat","tag-memecoin-decline","tag-orca-dex","tag-perpetual-futures-solana","tag-pump-fun-volume","tag-raydium-trading","tag-sol-price-prediction","tag-solana-dex","tag-solana-etf","tag-solana-network-activity","tag-solana-scalability","tag-solana-trading-volume"],"yoast_head":"\nSolana Surpasses Ethereum in DEX Volume but Faces Challenges - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/solana-surpasses-ethereum-in-dex-volume-but-faces-challenges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana Surpasses Ethereum in DEX Volume but Faces Challenges - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"In the last 30 days, Solana achieved a significant milestone by surpassing Ethereum in DEX trading volume. 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