Solana DEXs surpass NYSE in weekly trades, processing 208 million transactions

Solana DEX volumes outpace traditional exchanges

According to data compiled by Flipthe.market and analyzed by Blockworks Research, 208 million trades were executed across Solana-based decentralized exchanges (DEXs) in a single week. In comparison, the NYSE—recognized as one of the world’s largest traditional stock exchanges—facilitated 189 million trades during regular U.S. market sessions in that timeframe. This marks the first instance where Solana’s weekly trade count surpassed that of the NYSE.

Several differences exist in these figures. Solana’s onchain infrastructure supports uninterrupted, global trading activity, whereas the NYSE operates only during scheduled U.S. trading hours. As a result, Solana DEXs capture activity from around the world, including weekends and late hours when traditional markets are closed.

Trade counts on decentralized exchanges typically reflect the number of transactions or swaps, rather than the underlying dollar volume moved. This provides a measure of user activity and transaction frequency but is not a direct comparison of market value between the two platforms.

Surging DEX volume and expanding ecosystem

During the same week, Solana DEXs handled approximately $17.3 billion in trading volume, according to Blockworks Research. Rather than representing a sudden spike, this figure is part of a sustained trend of heightened decentralized trading activity on the network.

Recent data from DefiLlama indicate Solana DEXs achieved around $3.21 billion in 24-hour volume and $76.3 billion over the last 30 days. Major contributors to this ecosystem include Raydium, Pump, and Orca, while Jupiter, a leading DEX aggregator, accounted for roughly $107.33 million in 24-hour aggregation volume.

Mini dictionary: DefiLlama, Raydium, Orca, and Jupiter are major data providers and core platforms within Solana’s decentralized finance (DeFi) landscape, tracking DEX activity and aggregating liquidity from multiple sources.

SOL price gains alongside increased activity

The surge in onchain trading activity has coincided with a notable rise in Solana’s native token, SOL. The price of SOL climbed from $96.93 on September 15 to $117.9 on September 22, a gain of approximately 20%. The token also reached an intraday high of $119.43 on September 22, with a market capitalization standing at around $69.8 billion.

Current data from CoinGecko place 24-hour SOL trading volume at $6.83 billion, indicating ongoing investor interest in the asset. While there is no automatic link between heightened DEX activity and price gains, broader market participation provides context for evaluating demand for both the network and its token.

Global trading on Solana DEXs exceeded even the NYSE trade count, showing how decentralized markets now rival traditional financial institutions in transaction volume. At the same time, increased DEX activity has gone hand in hand with a surge in SOL market value.

Syndica, a cloud infrastructure provider specializing in Solana, has previously found that the network remains a global leader in decentralized exchange usage. Research conducted this year noted Solana’s continued prominence in worldwide DEX volume and liquidity, further reinforced by the latest trade count record.

The ability of Solana’s blockchain to operate without downtime or market closures distinguishes it from traditional exchanges, supporting a broad spectrum of time zones and participant profiles. This positions the platform as a core player in the evolving decentralized finance sector.