The Solana blockchain recorded a spot buying and selling quantity of $1.6 trillion in 2025. The determine represents a worldwide market share of 11.92%, surpassing main crypto exchanges similar to Bybit, Coinbase, and Bitget.
Solana, a high-performance sensible contract platform, recorded a spot buying and selling quantity of $1.6 trillion on decentralized exchanges in 2025. The determine represents 11.92% of the worldwide spot market quantity in response to onchain knowledge. The community’s buying and selling quantity surpassed that of all main exchanges, together with Coinbase, Bitget, and Bybit.
Solana’s spot buying and selling quantity seconds Binance, surpasses all CEXs, L1s, and L2s
🚨BREAKING: In 2025, @Solana recorded almost $1.6T in buying and selling quantity, surpassing all L1s, L2s, and main centralized exchanges, besides Binance.
Solana additionally surpassed Bybit, Coinbase World, and Bitget in whole 2025 buying and selling quantity. pic.twitter.com/jaKJSe1bpl
— SolanaFloor (@SolanaFloor) January 5, 2026
The community’s spot buying and selling quantity solely fell behind that of Binance, which dealt with $7.27 trillion, accounting for 55.11% of the worldwide spot market. Binance’s market share considerably declined from 80% recorded in 2022. Solana’s quantity additionally surpassed that witnessed on all L1s and L2s, together with Ethereum, Binance Sensible Chain, and others.
Knowledge from open-source DeFi knowledge aggregator DefiLlama exhibits that Solana’s quantity peaked in January 2025, recording $313.26 billion. March was the slowest month for DEX exercise, however Solana nonetheless led L1s and L2s with $79.73 billion. The information additionally exhibits that Solana recorded greater than $100 billion in buying and selling quantity in 9 out of the 12 months of the yr.
Ethereum recorded a complete buying and selling quantity of $950 billion all year long. The blockchain’s buying and selling quantity peaked in August and September, reaching over $100 billion in every month.
Based on Artemis researcher ZJ, Solana ranked fifth amongst main centralized exchanges only one yr in the past. The researcher attributed Solana’s elevated onchain exercise to Proprietary Automated Market Makers (propAMMs) and Central Restrict Order Books (CLOBs), which have performed a pivotal position in shifting merchants, buyers, and market members from centralized exchanges to decentralized platforms in Solana’s high-speed atmosphere.
Knowledge and blended indicators gas Solana’s efficiency uncertainty
Solana’s efficiency alerts a transformative shift within the decentralized ecosystem that might propel the asset’s value. Nonetheless, totally different onchain metrics and valuation indicators present a contrasting sentiment.
Supply: Glassnode. Solana’s Community to Transaction Ratio
Based on knowledge from blockchain knowledge and intelligence platform Glassnode, Solana’s Community Worth to Transactions ratio has surged to a seven-month excessive, hinting at a potential bearish end result.
Traditionally, elevated NVT figures have signaled imminent bearish traits, exerting strain on Solana’s value and restoration makes an attempt. The information exhibits {that a} divergence exists as Solana’s market worth is rising quicker than precise transaction demand. The divergence additionally exhibits that Solana’s hype could also be outpacing the community’s actual financial exercise.
Supply: Glassnode. Hodler’s internet place change
However, long-term holder behaviour exhibits a contrasting sentiment. Solana’s Hodler internet positions have shifted from almost 4 months of distribution to renewed accumulation over the previous week. The holders might mitigate the strain from snowboarding and cut back bearish dangers amid Solana’s short-term uncertainty.
Knowledge from SosoValue, an ETF monitoring web site, exhibits that U.S. spot Solana ETFs registered inflows price $2.29 million on December 31, marking a three-day streak of constructive flows. The information additionally exhibits that the ETFs obtained vital inflows in December and now maintain $1.02 billion in internet property beneath administration.
A earlier cryptopolitan report additionally highlighted that Solana crypto fund merchandise posted the strongest in proportion development, with $3.6 billion in inflows for 2025. The figures characterize a 1000% improve from 2024’s $310 million. The information assist Glassnode’s hodler metrics, indicating that long-term Solana holders are accumulating the cryptocurrency.
Solana is buying and selling at $134.34 on the time of this publication. Based on knowledge from the Cryptocurrency value monitoring web site CoinMarketCap, the crypto asset has remained unchanged over the past 24 hours, regardless of an 8.58% surge within the final seven days.
