Solana News Today: Solana DEX Volume Surges 56% in July, Widens Lead Over Ethereum

Solana’s decentralized exchange (DEX) ecosystem saw a remarkable surge in July, with total DEX trading volume reaching $124.2 billion, a 56% increase from June. This growth marked a significant rebound after a dip in the previous month, and Solana once again widened its lead over Ethereum, whose DEX volume stood at $87.1 billion in the same period, 42.5% lower than Solana’s [1].

The Dune analytics data revealed that Solana has maintained the top spot in DEX trading volume for the tenth consecutive month, since October 2024. This dominance is attributed to the rapid expansion of its ecosystem, including the launch of four new private AMMs on Jupiter in recent months. These platforms, including Humidifi and Tessera, quickly captured substantial trading shares, with Humidifi alone recording $60 billion in July volume [1].

Interestingly, these new entrants operate exclusively through Jupiter without independent front-end interfaces. Despite this limitation, they managed to take significant market share from established platforms like Raydium and Orca. Raydium retained the leading position in July, accounting for 32.2% of Solana’s DEX volume, followed by Meteora at 21.8% and Orca at 15.2%. The largest growth was observed in Meteora, which experienced a 145.9% increase in volume from the previous month [1].

Meanwhile, Pump.fun and Pumpswap suffered notable declines, with volume drops of 57.8% and 39.3%, respectively. The decline for Pump.fun was attributed to its competition with Letsbonk.fun, which led to a reduction in token issuance and associated trading activity [1].

A key trend in July was the shift in trading behavior from aggregators to direct DEXs. In January 2025, aggregator-driven volume was nearly double that of direct DEXs, but by June, the two were nearly equal. By July, direct DEX volume had surpassed aggregators by $75 billion, reaching $659 billion [1].

The role of trading bots remained significant, with bot-driven volume accounting for 62% of total DEX volume in July, or over $770 billion. While bot activity increased the rate of failed transactions and slightly raised network costs, Solana’s low-fee environment mitigated these effects compared to other blockchains. High bot participation continues to be a key driver of transaction volume, and the rate of failed transactions remains a key indicator of bot-driven activity [1].

In terms of token trading trends, SOL was the most traded asset in July with $584 billion in volume, representing a 92.7% increase from June. Stablecoins followed with $297 billion, and memecoins recorded $262 billion. Despite a decline in overall volume for Pump.fun and LetsBonk.fun, the competitive dynamic between them drove an 8.9% increase in the memecoin segment [1].

Bitcoin trading on Solana also showed signs of recovery, with volume rising 21.7% in July to $19 billion. The $BTC-$SOL trading pair accounted for the largest share. Multiple wrapped BTC variants now circulate on Solana, offering traders alternative exposure without leaving the network [1].

The July data highlights Solana’s continued dominance in the DEX space, supported by high throughput, low fees, and a rapidly diversifying trading environment. With direct trading surpassing aggregation by $75 billion, and bots responsible for 62% of total DEX volume, Solana remains the leading blockchain for DEX activity [1].

Source: [1] Solana DEX Volumes Surge 56% in July, Outpacing Ethereum for the Tenth Consecutive Month (https://solanafloor.com/zh/news/solana-dex-volumes-surge-56-in-july-outpacing-ethereum-for-the-tenth-consecutive-month)