Solana Surpasses Coinbase and Kraken in Spot Trading Volume

Solana's dominance in on-chain trading activity continues to grow as it surpasses Coinbase and Kraken in spot trading volume.

According to data from DeFiLlama, Solana accounted for 25%+ of the total DEX volume across all chains, reaching a record $1.34 trillion in Q2 2025.

Solana's monthly DEX volume recently climbed to nearly $50 billion, surpassing Ethereum's roughly $35 billion, highlighting its growing dominance in on-chain trading.

The rising USDT balances on Solana suggest fresh capital continues to flow into the ecosystem, supporting higher trading volumes and deeper liquidity pools.