Solana surpasses Ethereum in DEX trading volume as liquidity surges

Recently, Solana has surpassed Ethereum in trading volume on decentralized exchanges (DEX), indicating a significant shift in liquidity across blockchain markets.

Source: According to data from DefiLlama, in the past 24 hours, Solana has recorded a DEX trading volume of 5.84 billion USD, slightly higher than Ethereum's 5.75 billion USD. In the past 30 days, Solana has executed nearly 137 billion USD in DEX trades, indicating the platform's increasing dominance.

The growth of Solana's stablecoin drives a liquidity boom

The increase in on-chain activity of Solana occurs alongside a strong increase in stablecoin supply, reaching a record high of 17.5 billion USD, according to information from Artemis.

This liquidity injection has reinforced Solana's role as a preferred venue for high-frequency traders and automated market makers.

Source: Stablecoins like USDC and PYUSD have become significant liquidity anchors on major Solana DEXs, including Jupiter, Raydium, and Phoenix, allowing for seamless swaps and maintaining deep order books even during high volatility periods.

The increase in stablecoin circulation is not merely speculative capital but also reflects the maturity in the involvement of institutions and the DeFi sector.

SOL price recovers thanks to improved confidence

The price of SOL has also reflected the improving market sentiment. According to data from Coinphoton, this token has recovered 5.78% in the past 24 hours, trading at 209.17 USD at the time of publication.

SOL price chart | Source: CoinphotonAnalysis shows that the price of SOL has decreased from around 221 USD to 177 USD during the period from October 10 to October 11. The relative strength index (RSI) is currently at 47.7, indicating neutral momentum with growth potential if buying pressure continues to hold.

After the sell-off in the cryptocurrency market last week, the price of Solana found support around 180 USD, recovering alongside on-chain trading volume and increased DEX liquidity. Technical levels indicate resistance right at around 220 USD, while maintaining support near 190 USD could help strengthen the upward trend.

The stable growth of Solana

The performance of Solana stands out against the backdrop of the overall market trend, and this platform has consistently narrowed the gap with Ethereum in terms of both trading activity and the attraction of developers throughout 2025.

The DeFi application ecosystem is developing strongly, and the increasing transaction throughput has reinforced Solana's position as a formidable competitor in the field of decentralized finance.

Mr. Giáo