Solana Extends Its Dominance Over DEXs in July with a 56% Surge in Trading Volume

• Why Is Solana Outperforming Ethereum in DEX Trading?
• Which DEXs Are Leading the Charge on Solana?
• How Are Trading Patterns Shifting on Solana?
• What’s Fueling Solana’s Ecosystem Growth?
• Solana’s Long-Term Outlook: Sustainable or Speculative?
• FAQs About Solana’s DEX Dominance

Solana has solidified its position as the leading blockchain for decentralized exchanges (DEXs) in July 2025, recording a staggering 56% increase in trading volumes compared to June. With platforms like Jupiter and new entrants like Humidifi and Tessera driving activity, Solana's ecosystem continues to outpace ethereum and other competitors. This article dives into the key trends, top-performing DEXs, and the shift toward direct trading—painting a vivid picture of Solana's growing influence in the decentralized finance (DeFi) space.

Why Is Solana Outperforming Ethereum in DEX Trading?

Solana's DEX volumes hit $124.2 billion in July, marking a 56% month-over-month surge and maintaining a 10-month lead over Ethereum, which recorded $87.1 billion. This dominance isn't accidental—Solana's low fees, high throughput, and vibrant ecosystem of new platforms like Humidifi ($6B+ volume) and Tessera ($2.5B) have attracted traders en masse. Even without front-end interfaces, these newcomers are reshaping the landscape, proving that functionality often trumps flashy UIs in DeFi.

Which DEXs Are Leading the Charge on Solana?

Raydium remains the undisputed leader with a 32.2% market share, but Meteora stole the spotlight with 145.9% monthly growth—the highest among top platforms. Orca (15.2% share) and ZeroF also posted strong gains, while Pump.fun and Pumpswap saw declines due to competition from LetsBonk.fun. Here’s the breakdown:

• Raydium: $40B+ volume, +72% MoM
• Meteora: $27B volume, +145.9% MoM
• Orca: $18.9B volume, +48.4% MoM

How Are Trading Patterns Shifting on Solana?

Direct DEX swaps overtook aggregators for the first time this year, hitting $65.9B in July versus $7.5B for aggregated flows. This reflects growing user confidence in Solana's liquidity depth—no need to "shop around" when the best prices are already on-chain. As one BTCC analyst noted, "It's like traders are ditching comparison tools because the network itself has become the aggregator."

What’s Fueling Solana’s Ecosystem Growth?

Beyond DEXs, SOL tokens dominated trading ($58.4B volume, +92.7% MoM), followed by stablecoins ($29.7B) and memecoins ($26.2B). The latter’s surge was fueled by the Pump.fun vs. LetsBonk.fun rivalry—proof that even in a bull market, degens gotta degen. Meanwhile, Solana’s Fear & Greed Index hit 73 (bullish), and SOL traded at $201, up 20% monthly.

Solana’s Long-Term Outlook: Sustainable or Speculative?

With 18 green days in July and prices NEAR the cycle high of $205.73, Solana’s momentum seems unstoppable. Its 1-year performance (+39%) outpaces 53% of top cryptos, and the 200-day moving average suggests strong support. But as always in crypto, past performance isn’t future proof—though for now, Solana’s "cheap and fast" value proposition keeps it at the forefront of DeFi innovation.

FAQs About Solana’s DEX Dominance

How does Solana’s DEX volume compare to Ethereum’s?

In July 2025, Solana’s DEX volume reached $124.2B versus Ethereum’s $87.1B—a 42% gap in Solana’s favor. This lead has held for 10 consecutive months.

Which new DEXs are gaining traction on Solana?

Humidifi ($6B+ volume) and Tessera ($2.5B) are the standout newcomers, both operating via Jupiter without standalone interfaces.

Why did direct DEX swaps surpass aggregator trades?

Improved liquidity and tighter spreads on solana made direct swaps more efficient, reducing reliance on order-routing middlemen.