Solana Extends Dominance in DEX with a 56% Surge in July 2025
- Why Is Solana Outperforming Ethereum in DEX Volumes?
- Which New DEX Platforms Are Making Waves on Solana?
- How Are Established DEXs Like Raydium and Meteora Faring?
- What’s Driving the Shift from Aggregators to Direct DEX Trades?
- Which Assets Are Fueling Solana’s Trading Boom?
- What Do On-Chain Metrics Reveal About Solana’s Momentum?
- Final Thoughts: Is Solana the New DeFi Powerhouse?
- Solana DEX Dominance: Your Questions Answered
Solana has solidified its position as the leading blockchain for decentralized exchanges (DEX), outpacing ethereum with a staggering 56% volume increase in July 2025. New platforms like Humidifi and Tessera have entered the fray, while established players like Raydium and Meteora continue to dominate. Direct DEX trades have also overtaken aggregator flows for the first time this year, signaling a shift in trader behavior. Here’s a deep dive into Solana’s explosive growth and what it means for the DeFi landscape.
Why Is Solana Outperforming Ethereum in DEX Volumes?
Solana’s DEX volumes hit $124.2 billion in July 2025, a 56% jump from June, while Ethereum lagged at $87.1 billion—a 42% gap. This marks Solana’s 10th consecutive month as the DEX leader since October 2024. The network’s speed and low fees are key drivers, attracting both retail and institutional traders. According to, Solana’s average transaction cost remains under $0.01, compared to Ethereum’s $1.50+ during peak times.
Which New DEX Platforms Are Making Waves on Solana?
Four new DEXs debuted on solana in the past two months, collectively processing billions in trades. Humidifi led the pack with $6 billion in volume, followed by Tessera at $2.5 billion—both operating without front-end interfaces via Jupiter. "These platforms are leveraging Solana’s liquidity depth," noted a BTCC analyst. "It’s a testament to the network’s infrastructure that even bare-bones protocols can thrive."
How Are Established DEXs Like Raydium and Meteora Faring?
Raydium remains the market leader, capturing 32.2% of Solana’s DEX volume in July. Meteora, however, stole the spotlight with 145.9% monthly growth, securing 21.8% market share. Orca (15.2%), ZeroF (32% growth), and SolFi (14.5%) also posted gains. Meanwhile, launchpad-focused DEXs like Pump.fun and Pumpswap saw declines of 57.8% and 39.3%, respectively, amid competition from Letsbonk.fun.
What’s Driving the Shift from Aggregators to Direct DEX Trades?
Direct DEX transactions surged to $65.9 billion in July, eclipsing aggregator flows ($7.5 billion) for the first time in 2025. Early this year, aggregator volumes were double direct trades. "Traders are becoming more sophisticated," observed acommentator. "They’re bypassing middlemen to capitalize on Solana’s native liquidity pools."
Which Assets Are Fueling Solana’s Trading Boom?
SOL tokens dominated with $58.4 billion in trades (up 92.7% monthly), while fiat-pegged assets and memecoins followed at $29.7 billion and $26.2 billion, respectively. The memecoin rally was fueled by the Pump.fun vs. Letsbonk.fun rivalry. At press time, SOL trades at $201, up 20% month-to-date and nearing its all-time high of $205.73.
What Do On-Chain Metrics Reveal About Solana’s Momentum?
Per, Solana’s Fear & Greed Index sits at 73 (bullish), with SOL outperforming 53% of top cryptos over 12 months. It’s traded above its 200-day moving average since March 2025, logging 18 green days in the past 30. "Solana isn’t just riding hype—it’s delivering utility," said a decentralized finance (DeFi) researcher.
Final Thoughts: Is Solana the New DeFi Powerhouse?
With its scalable infrastructure and thriving DEX ecosystem, Solana is redefining decentralized trading. While Ethereum struggles with congestion, Solana’s leaner model appeals to cost-conscious traders. That said, competition is fierce—Avalanche and Base are gaining traction. One thing’s clear: The DEX wars are far from over.
Solana DEX Dominance: Your Questions Answered
How long has Solana led in DEX volumes?
Solana has maintained the top spot for 10 consecutive months since October 2024.
Which new DEX platforms are trending on Solana?
Humidifi ($6B volume) and Tessera ($2.5B) are the standout newcomers.
Why are direct DEX trades surpassing aggregators?
Traders are prioritizing lower fees and faster execution on Solana’s native pools.
