Solana Surpasses NYSE in Spot Trading Volume on Thursday

Solana has achieved an impressive milestone in cryptocurrency trading volume, surpassing the New York Stock Exchange (NYSE) on Thursday. According to recent data, Solana's decentralized exchanges processed more spot trading volume than the NYSE, a feat that would have been considered science fiction just two years ago.

The numbers behind this achievement are staggering. Solana's DEX ecosystem recorded $1.6 trillion in cumulative spot trading volume for 2025, capturing roughly 11.92% of global market share. This puts Solana as the second-largest spot trading venue in crypto, trailing only Binance and outpacing major centralized exchanges like Bybit, Coinbase, and Bitget.

Daily on-chain activity on Solana peaked above 100 million transactions per day in mid-2026. Tokenized equities on Solana also drove the surge, hitting a daily record of $187.9 million in trading volume around mid-June 2026. The star of the show was SPCX, a token representing shares of SpaceX, which alone accounted for over $105 million of that daily record.

However, it's essential to note that comparing DEX volume to NYSE volume isn't an apples-to-apples comparison. The NYSE's daily equity trading volume encompasses a regulated, centralized order book with institutional market makers, circuit breakers, and decades of legal infrastructure. On-chain trading volume can include wash trading, bot activity, and other dynamics that inflate raw numbers relative to traditional markets.

The launch of Solana ETFs on NYSE Arca in late October 2025, including Bitwise's BSOL and Grayscale's GSOL, also contributed to the increased trading activity. With 97% market share in on-chain equity tokenization, Solana has established significant network effects in this category.