Statistics point out that Solana was buying and selling $5.512 billion in DEXs in a single day. Its closest rival Ethereum dealt with 4.438billion with Binance Sensible Chain (BSC) coming in second with 4.344billion. Base, the Layer 2 utility of Coinbase, operated with a complete of $1.288 billion, which is way decrease than the statistics of Solana.
This isn’t a one-time spike. Because the starting of 2025, Solana has been actively defeating Ethereum in the exercise of DEXs. The pattern is confirmed by on-chain trackers, reminiscent of DeFiLlama, as Solana is reporting near 30 billion weekly volumes. Solana has remained forward of its rivals as a consequence of high-frequency buying and selling and the low value charged..
Know-how Benefit
The design of Solana issues. Working in conjunction with a Proof of Stake (PoS) consensus mechanism, the Proof of Historical past (PoH) system is able to reaching 65,000 transactions per second (TPS). In distinction, Layer 2 scaling is required to realize 15-30 TPS in Ethereum L1. One other facet of DEX is the transaction prices. In keeping with its whitepaper, the typical charge of Solana is 0.00025. Ether prices throughout congestion can nonetheless be $1 or $5 due to the Merger. As a result of merchants function on quick and frequent funds, this loophole is enticing. Latest additions like Alpenglow which lowered transaction finality to below 400 milliseconds and the continuing Firedancer validator venture ought to see Solana change into much more scalable and dependable.
Establishment Gas
That institutional demand has helped develop Solana. On Sept 22, 2025 AInvest said that Solana’s market cap had elevated by $137 billion as a consequence of inflows into funds like Franklin Templeton’s Onchain Fund. In DEX, publicly traded corporations at the moment personal about 1.44% of complete provide of Solana with staking charges of 7-8%. The added greenback quantity by establishments simply in Q3 2025 was 1.72 billion. Forbes’s analysts in contrast that surge to the Bitcoin rally of 2021, in which an ETF gave the cryptocurrency an almost 300 p.c value lever in a couple of 12 months.
Dangers and considerations
Nonetheless, there are dangers. EPJ Knowledge Science’s analysis exhibits how Solana has a hyper-transient viewers with most wallets used for lower than a day. This churn, together with the advantage of elevated quantity additionally makes it questionable whether or not customers will stay loyal to it in the long term as in comparison with the comparatively secure base of Ethereum. Shut remark can be being taken by regulators. There are a number of Solana ETFs in the U.S. and Europe below evaluation, and elevated management over them might have an effect on institutional progress.
Whats Ahead
By 01:15 PM IST there was no indications of sluggishness in the on-chain exercise of Solana. In case of the given tempo, the whole DEX quantity has an opportunity to achieve over $6 billion on the finish of the day. That is dubbed by the supporters as Solana Season pushed by tempo, effectivity, and institutional adoption. Speculators warn that transactions can enhance volumes by means of speculative buying and selling. At any price, Solana has confirmed to be a severe risk to Ethereum and the present numbers verify that story.
