At the beginning of 2025, the spot trading performance on the Solana chain is quite impressive. The total on-chain spot trading volume for the year reached $1.6 trillion, a scale that surpasses all mainstream CEXs except for a leading exchange, demonstrating the high activity level of the on-chain trading ecosystem. In comparison, in 2022, SOL accounted for only 1% of global spot trading; in just three years, this has risen to 11.92%, a remarkable growth.

From an ecosystem health perspective, several key indicators are trending positively. In 2025, on-chain fee revenue surpassed $600 million, with approximately 98 million monthly active users and over 34 billion transaction counts. What do these numbers signify? They indicate that the usage frequency and user stickiness of the Solana network are continuously increasing, with many core metrics already beginning to outperform established public chains like Ethereum.

There are also clear signals in the capital flow. The official launch of spot ETFs at the end of the year further attracted traditional financial capital, with net inflows reaching $766 million so far. This positive feedback loop, from on-chain trading data to off-chain capital inflows, usually signals that the market is developing a long-term optimistic outlook on a particular public chain.

Of course, behind these figures, the most crucial factor is the performance and cost advantages of the Solana network itself, which continue to attract more traders and developers.