Solana Takes Second Spot in DEX Volume, Overtaking Ethereum

By Ciara O'Sullivan

There is great news for developers using Solana as their blockchain of choice! It has overtaken Ethereum, even taking the number two spot in decentralized exchange (DEX) volumes for June 2025. This rise is a clear indication of Solana’s growing supremacy in the decentralized finance (DeFi) arena. Further accelerating this incredible growth is its innovative Proof of History (PoH) technology and rapidly-expanding ecosystem. And leading the charge was Solana with a staggering $64.1 billion in DEX volume for June 2025.

Solana’s technological advantages, especially its PoH consensus mechanism, are helping improve transaction speed and network reliability. High throughput and low transaction costs allow decentralized exchanges built on Solana to support much larger volumes without having their performance dragged down. This level of network reliability positions Solana as the go-to option for traders looking for efficiency and scalability. Major ecosystems including Raydium, Pump.fun, Orca were responsible for June 2025’s $64.1 billion DEX volume.

Unsurprisingly, DEX volume has exploded over the last months. Despite the positive developments, Solana’s native token SOL has lost around 15% of its value since a mid-June 2025 all-time high. Nevertheless, experts believe that Solana’s technological advantages and expanding ecosystem point to the possibility of price growth ahead. Solana's development efforts remain robust, signaling a commitment to long-term growth and innovation despite limited new institutional investment in Solana's ecosystem recently. The implementation of new infrastructure and workflows within Solana’s DeFi ecosystem trends towards a bullish narrative.

Solana's position as a strong competitor to Ethereum, which has traditionally dominated the DEX market, has been established due to Solana's technological advantage. Such dominance in DEX volumes has the potential to catalyze the much ballyhooed wider adoption of decentralized finance applications. Investors and market participants are anxiously awaiting developments within the ecosystem. They are looking closely at institutional engagement to gauge Solana’s path over the next few months.

Ciara O'Sullivan

Blockchain Editor

Ciara O'Sullivan blends investigative rigor with a passion for clear, balanced storytelling, making complex blockchain ideas accessible and engaging. An avid marathon runner and lover of Irish folklore, she brings both energy and unique cultural insights to her editorial work.

Solana's DEX Surge: The Real Reason Ethereum Should Be Terrified

05.07.25

Let's be blunt: Solana eating Ethereum's lunch in the DEX space isn't just a fluke. It is a totally predictable result of decisions Ethereum has made and is still making. As an analyst, I find this kind of development borderline heretical. So instead of a competition, I view it as...

Solana's DEX Surge: The Real Reason Ethereum Should Be Terrified

Solana's $64B DEX Boom: Is This the Metaverse's New Financial Hub?

05.07.25

Okay, let's be real. We’ve all read the articles detailing how Solana’s DEX volume is exploding to $64 billion in daily volume, overtaking Ethereum in volume in June 2025. As someone who’s two-shoes-deep in the metaverse game, I have an alternative, more-positive view to present. Forget the short-term price dips...

Solana's $64B DEX Boom: Is This the Metaverse's New Financial Hub?

Solana Flips Ethereum: DEX Volume Soars to $64B in June 2025

05.07.25

In June 2025, Solana passed Ethereum by a wide margin in DEX volume, marking an important step towards the network’s overall goal of surpassing Ethereum. Solana most notably surpassed $64 billion in DEX volume. This rush was exacerbated by the craze of meme coins, extreme network throughput, minimal transaction expenses,...