Monthly Trading Volume of DEX Exceeded $560 bln. Half of the Turnover Came From Solana

In January, total turnover on the DEX reached a record $564.56 billion. The leader is Solana ($258.74 billion or 45.83% of total ecosystem turnover). It is followed by: Ethereum - $86.107 billion; BNB Chain - $80.27 bln; Base - $52.785 billion; Arbitrum - $26.778 billion; Sui - $12.465 billion. In January, the share of Solana-based AMM exchange Raydium surpassed that of the once perennial segment leader, Uniswap. The growth in trading volume on the now largest DEX also coincided with the positive dynamics of the meme-coin market, one of the most popular asset classes on the platform. The total blocked value in the Solana ecosystem exceeds $10.8 billion, second only to Ethereum in the DeFi Llama ranking. The figure has grown more than fivefold over 2024. In January, the ratio of DEX turnover to total trading volume on the CEX exceeded the 20% threshold for the first time. Last month, the “meme-token factory” Pump.fun on Solana celebrated its first anniversary, dramatically simplifying and cheapening the process of issuing digital assets. At the end of January, the daily volume of commissions on the platform amounted to a record $15.4 million. Recall that at the end of last month the trading turnover of Solana-exchange Meteora reached $37 bln. The indicator of the previous period - $990 mln.

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Source: Coinpaper