Solana News Today: Solana's DEX Surge Overtakes Ethereum, Claims DeFi Dominance

Solana's decentralized exchange (DEX) ecosystem has surged to new heights, with the blockchain's perp DEX volume hitting a record $4.49 billion in a single trading day, according to data from September 2025. This milestone underscores Solana's growing dominance in the decentralized finance (DeFi) space, as the network outperformed Ethereum and BNB Chain combined in daily trading activity. The surge coincided with a 0.26% rise in Solana's native token (SOL), which traded at $234.28, fueled by bullish technical indicators and institutional inflows.

The record volume was driven by a confluence of factors, including a broader crypto market rally that began in November 2024 and peaked in January 2025. During that period, Solana's annual DEX volume ballooned to $806.8 billion, a 400% increase from the same period in 2024. January alone accounted for over half of this total, with $408 billion in trading activity. Jupiter, Solana's leading DEX aggregator, played a pivotal role, processing $334.6 billion in volume-55% of the network's total-while platforms like Raydium and Meteora added $352.8 billion and $113.7 billion, respectively.

The growth trajectory has positioned Solana as a serious competitor to Ethereum, which held 30% of cross-chain DEX volume in Q1 2025, while Solana claimed 23%. This shift reflects broader adoption of Solana's high-speed, low-cost infrastructure, highlighted by the network's achievement of 2.9 billion transactions in August 2025-matching Ethereum's entire transaction history since 2015. Institutional investors have also shown confidence, injecting $16.1 million into Solana-based protocols as of September 6.

Technical advancements further bolster Solana's momentum. The network's Alpenglow upgrade, currently under community voting, aims to reduce block finality from 12.8 seconds to 150 milliseconds. This improvement, developed by Anza, a Solana research group, would bring Solana's transaction speed closer to traditional payment networks like Visa and Mastercard. Early voting data shows 10.6% support for the proposal, with proponents arguing it could enhance real-time finance and gaming applications.

Despite these gains, challenges persist. While September 2025 saw a 24-hour DEX volume of $2.6 billion, this figure dipped to a year-to-date low of $988 million by late 2025, reflecting cyclical demand fluctuations. SOL's price also faced volatility, dropping 33% in one month amid waning open interest in futures markets. Analysts remain divided on whether the token can reclaim its $180 level, with some pointing to the potential approval of a Solana spot ETF by the U.S. Securities and Exchange Commission as a key catalyst.

The ecosystem's resilience, however, is evident. Jupiter's recent launch of a Pro platform-featuring MEV protection, slashed gas fees, and advanced analytics-has drawn renewed attention. The platform's 24-hour volume surpassed Ethereum's, signaling robust user adoption. Meanwhile, Raydium and Pump.fun continue to drive activity, with the latter facilitating $22.3 billion in volume despite broader memecoin sector declines.

As Solana solidifies its position in DeFi, the interplay between technical innovation, market dynamics, and institutional interest will shape its trajectory. With Jupiter's dominance, Alpenglow's potential, and a growing user base, the network appears well-positioned to maintain its upward momentum-even amid periodic corrections.

Source: [1] Solana Achieves Record Breaking $806.8 Billion DEX ... (https://altsignals.io/post/solana-dex-volume-reaches-806-billion)

[2] Solana (SOL) Surges Past $234 as DEX Volume Hits Record $2.6 ... (https://blockchain.news/news/20250916-solana-sol-surges-past-234-as-dex-volume-hits-record)

[7] Can JUP bulls defend $0.38 as the Jupiter DEX launches a pro platform? (https://www.bitcoininsider.org/article/272727/can-jup-bulls-defend-038-jupiter-dex-launches-pro-platform)

[8] Solana Gains DEX Marketshare But SOL Price Fails To Follow (https://cointelegraph.com/news/solana-ranks-second-in-dex-volumes-will-sol-price-follow)

[9] Solana (SOL) Price: Token Trades Above $212 as ... (https://blockonomi.com/solana-sol-price-token-trades-above-212-as-network-leads-in-dex-volume)

[10] Solana DEX Volume Hits Year-To-Date Low, SOL Under Pressure (https://beincrypto.com/solana-dex-volume-year-to-date-low/)