Solana News Today: Solana's Developer Surge Fuels DEX Dominance Over Ethereum

Solana has eclipsed Ethereum as the leading blockchain in terms of decentralized exchange (DEX) volume, marking a significant shift in the decentralized finance (DeFi) landscape. According to recent data, the decentralized exchange volume on Solana surged to record levels in August 2025, outpacing Ethereum, the blockchain with the highest Total Value Locked (TVL). This development coincided with notable price increases for both blockchains’ native tokens, Ethereum (ETH) and Solana (SOL), with the latter experiencing a 12.6% rise to $158.96 in seven days, compared to ETH’s 10.5% gain to $3,424 [2].

The surge in DEX volume was partly driven by Jupiter, a Solana-based DEX aggregator, which reduced fees on perpetual products in response to user feedback, lowering base fees from 0.07% to 0.06%. This strategic move attracted more users to the platform, contributing to the overall increase in trading activity [2]. Solana’s growing influence is further reflected in the broader market recovery, where the blockchain captured a significant portion of DEX activity, signaling a shift in user preference toward Solana-based platforms [2].

Institutional interest in Solana has also intensified, with DeFi Development Corp (DFDV) boosting its Solana holdings to over $409 million in August 2025. The company has adopted a Solana treasury policy, actively staking its tokens to secure the network and earn yield. This institutional support has played a crucial role in Solana’s recent price action, with the token rallying more than 26% in 30 days, climbing from around $160 in early August to a peak of $215 by early September [3]. The momentum has been sustained despite minor pullbacks, with many investors viewing Solana’s fundamentals as a strong underpinning for continued growth.

Solana’s ecosystem has also gained traction among developers, who are increasingly focused on building and expanding projects on the platform. According to Santiment, Solana’s native token, $SOL, ranked first in developer activity with a score of 74.57. The low costs associated with minting and transacting on Solana have attracted new projects and token hunters, with the emergence of numerous memecoins within the ecosystem. For example, $BOME was listed on Binance shortly after its launch, highlighting the rapid adoption of new tokens on Solana [2].

In contrast to Ethereum, which requires a 32 ETH deposit for native staking, Solana offers a more accessible staking model through its delegated Proof-of-Stake system. This allows users to delegate their tokens to validators, simplifying the staking process and increasing participation. As a result, Solana has $61 billion in staked capital, surpassing Ethereum. However, Ethereum leads in liquid staking, with 65% of its staked ETH in liquid form, while only 6.5% of Solana’s staked SOL is in liquid staking tokens (LSTs) [2]. This distinction reflects the different approaches taken by the two networks in incentivizing and securing their platforms.

The growing institutional and developer interest in Solana is expected to continue driving its performance, particularly if the broader market sees renewed confidence in cryptocurrencies. The potential approval of Solana and Ethereum exchange-traded funds (ETFs) is also seen as a catalyst for further price appreciation, with spot ETFs for Ethereum anticipated in July 2025 and those for Solana potentially approved in 2025 [2]. These developments could trigger a broader altcoin rally, providing additional momentum to both digital assets.

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