Lynn Nguyen, CEO of Sam
Decentralized exchanges (Dex) in Solana have become topping trading volume charts today, which further changes those in peer chains such as Ethereum, Base and BSC.
Memecoins are more responsible for this climb in volume. While they have proven to fit the crypto product market, few have shown the ability to live in market cycles.
If they retain their dominance, Solana Dexs should also show that they can tolerate the ongoing emerging market conditions and short -term trends.
It also means developing more resilient and liquid markets for property -staying power, such as Bitcoin, by improving the depth and differences of their pool pools.
Solana dexs increase
“Solana drinks Ethereum Milkshake.”
That is how OKX explained the rising popularity of Solana Dexs on ‘The State of Dexs 2025’ Report.
In the last week of December 2024, Solana Dexs held Nearly 90% of the total sharing of the Dex market – a nearly beyond the resurrection of belief following the ecosystem capitulation in the most recent bear market. Since then, the dominance has changed but has remained strong.
Solana’s fast -paced transaction, minimal cost, and friendly developer tools have pushed its growth, leading the number of transactions and active users of Dex. As the OKX report stated:
“Solana is a real chain chain.”
The market sharing remained above 50% in January 2025 – exceeded Ethereum and base for several days.
Asset Management Platform Vaneck’s Head of Research, Matthew Sigel, mentioned “Despite the Memecoin meltdown, Solana Dex volumes still hold – almost matching the entire ETH ecosystem.”
This is not until August, however, that the Dex -based Ethereum reached Those in Solana, are driven by institutional interests and massive ETF inflows spots.
The collapse of the trading volume of highly speculative -awareness has led to a significant decline in DEX volume in general solana. By early September, volumes dropped by 65% to $ 10 billion. These cuts are further combined by increasing the “prop” or “dark” AMMs in Solana, which eats away on the part of the conventional DEX market last year.
It raised an important question. Should Solana Dexs focus on the more sustainable owners?
Two main obstacles to growing
There are two significant challenges for Solana Dexs: an excessive loyalty to trading in highly -imaginative possessions and an issue related to the depth of liquidity.
The most -aware -of -the -ownership are also usually the most new -new. This leads to giant spikes and crashes not only to properties, but also trading volumes, especially when evaluating longer hours of horizons for the latter.
Related: Solana Dex Jupiter suspended DAO voting to 2026 to focus on the growth of Defi
For example, trading volume on pump.fun, the leading memecoin launchpad in Solana, plummeted 63% a month, with a DEX volume Reduction by 90%. This happened in the midst of what is widely considered a bull market. Moreover, extractive scams and significant price collapse, from Libra to Trump Meme token, have times dented Solana’s image as a reliable trading ecosystem.
When turning to the depth of wine Report revealed some signs. A comparison study of Ethereum, Solana, BSC, arbitrum and base within 30 days showed that Solana performed poorly based on basic parameters, including trade history, liquidity depth and prolonged trading volume.
Most of the solana liquidity pools are short of a sufficient total amount locked (TVL), suggesting that even though Solana recorded the high volume of Dex trading, they do this with less liquidity compared to other blockchains, which may lead to negative price effects for entrepreneurs.
Adoption for capital efficiency is important, and the depth of liquidity is only beneficial when it is used. It goes down to the combined -at the same time doing a great job of route routes through multiple sources of liquidity, and dexes to ensure enough depth to support larger trade.
Developing liquid markets
To bring more liquidity to Solana Dexs, we need to fill them with elastic and large market cap tokens, and what could be a better starting point than the biggest of all of them, Bitcoin?
Bitcoin Defi (BTCFI) is an emerging niche within the crypto industry. As a $ 2.3 trillion class of possession, protocols and users are now the same as trying to use BTC as a productive owner through onchain activity. In fact, the BTCFI VC funding has been reached $ 175 million In the first half of 2025.
Solana Dexs can now occupy the opportunity to develop deep liquidity for various BTC -wrapped assets, many of which are proud of large individual market covers. After all, Bitcoin has proven many times in its 17-year history that it can be uncertain and volatile market conditions.
Following BTCFI, it is clear that Stablecoin markets continue to grow from strength to strength. If anything, they are more than demand going to a bear market, so developing deep liquidity for different stablecoins only makes sense.
This is especially the case with blockchains like Solana, which clearly shows a strong interest in maximizing stablecoin adoption in their chain. The clues are not difficult to see-just to see Solana’s firm future summit in Korea-its first Stablecoin-focused conference held on September 23 of this year.
By prioritizing the strongest ownership of the industry, such as Bitcoin and Stablecoins, we can build a stronger foundation for Solana Defi. This will help Solana achieve its long-term goal to become the foundation that is undergoing internet capital markets and helping it stable in unwanted market conditions.
Lynn Nguyen, CEO of Saint.
This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.
