Solana Roars Back: $35.6B DEX Volume Smashes Records as TVL Jumps 58%
Solana’s network resurrection hits overdrive—defying its ’Ethereum killer’ obituaries with a jaw-dropping $35.6 billion in DEX volume last month. Traders flood back like it’s 2021, chasing those sweet, sweet low fees.
TVL pumps 58% as degens rediscover leverage: Proof that even blockchain zombies get second chances when yields outweigh PTSD from previous outages. (Take notes, Wall Street—this is how you do a dead-cat bounce with actual utility.)
The chain’s phoenix act coincides with a market-wide altcoin rally, though cynics whisper about vaporware projects refilling their war chests before the next crypto winter. For now? The party’s on—and Solana’s serving the punch.
Solana DEX Volume (Source: Blockworks Research)
During the period, the network maintained an average throughput of around 1,190 transactions per second (TPS). At the same time, Solana’s share of the SOL-USD trading market ROSE from 27% to 38%, indicating growing demand for its native asset.
The total value locked (TVL) on Solana has also climbed sharply over the last 30 days. DeFiLlama data shows the network’s TVL rose 58% from a low of $13.9 billion to $22.1 billion.
Although still below the January peak of more than $26 billion, the growth points to a strong recovery in user and developer engagement across the ecosystem.
Meanwhile, part of the TVL increase stems from the rising value of SOL, which appreciated 40% over the same 30-day window to hit $178, its highest price since March.
