DeFiLlama’s latest data confirmed that Solana DEX recorded over $5B in daily trading volume for three days straight to set a new record. The data also showed that aggregated Solana DEX’s trading volume gained over 123% in the past seven days to reach over $30.49B.
According to DeFiLlama’s data, Raydium was in the lead, accounting for over 62% of SOL DEX’s trading volume. Orca, at a distant second, accounted for over 22% of SOL DEX’s trading volume, although its weekly trading volume change was higher than Raydium’s at 174%. As per Artemis data, Solana’s revenue held steady for three successive days (November 11th-13th), clocking above $2M.
Solana DEX sets new record, topping $5B for three consecutive days
SOLANA DEX VOLUME BREAKS RECORD
Solana’s DEX just flipped the script – daily trading volume blasted past $5B for three days straight, smashing records with $15.9B locked this week.
Raydium’s carrying the load, pulling in 60% of that action.
DeFi has shown no signs of slowing… pic.twitter.com/mx5EXTWty4
— Mario Nawfal’s Roundtable (@RoundtableSpace) November 14, 2024
DeFiLlama’s data confirmed that Solana DEX’s trading volume was at an all-time high after breaking above $5 billion for three consecutive days. The data showed that SOL DEX’s trading volume was at $5.14 billion on November 11th, $6.88 billion on the 12th, and $7.03 billion on the 13th. Notably, the data showed that Raydium carried the heavier load, recording $4.32 billion (62.47% of the total) in 24-hour trading volume and about $19.56 billion cumulatively in the last 7 days (+127%). Raydium also had a DEX TVL of $1.89 billion and over $188 billion in cumulative volume.
DeFiLlama’s data showed that Orca was second in SOL DEX’s trading volume, with a 24-hour volume of $1.57 billion (22.43% of the total). The data also revealed that the trading volume rose by 174%, recording a trading volume of $6.42 billion in the last seven days, with a DEX TVL of $279 million. Orca’s cumulative volume stood at $168.32 billion.
According to Mario Nawfal, host of the Round Table Show, DeFi showed no signs of slowing down this week.
“The Solana ecosystem is making waves and it will probably take a while before bullish momentum reaches its natural conclusion.”
~ Mario Nawfal
DeFiLlama’s data further confirmed that Solana DEX’s trading volume surpassed all other blockchains in weekly volumes for the past three consecutive weeks. According to CoinGecko’s data, the total 24-hour trading volume for all DEXs stood at $16 billion, representing a 0.67% decline.
Solana outperforms Ethereum in DEX trading volumes for four successive days
Data from Artemis.xyz confirmed that Solana consecutively outperformed Ethereum in DEX trading volumes for the past four consecutive days. Since the beginning of November, Ethereum DEX trading volumes only flipped Solana’s DEX trading volume on three days (6th, 7th, and 8th), according to the data. The rest of the month was dominated by Solana’s DEX trading volume.
Solana and Ethereum DEX trading volumes differed by only $0.2 billion on November 1st, with Solana leading with $1.7 billion. The gap widened on November 2nd, as Ethereum’s DEX trading volume dropped below the billion mark ($795M) while Solana’s DEX trading volume remained the same.
The gap between the two DEX trading volumes remained relatively small, as per Artemis’s data. On November 9th, Solana’s DEX trading volume rose sharply to nearly double that of Ethereum, settling at $4.6 billion against Ethereum’s $2.4 billion. The most recent data on November 13th showed that SOL’s DEX trading volume ($6.9 billion) was more than double that of Ethereum ($3.4 billion).
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