There is a chain where every day in September sees tens to tens of billions of dollars—around a couple of hundred to a few billion dollars—in turnover moving through its trading pool.
As of now, Solana’s decentralized exchange trading volume ranks ahead of all other public chains. In September, its daily scale ranges from $1.6 billion to $3.25 billion, surpassing $2.72 billion on another chain’s exchange. On a weekly basis, it often exceeds $17 billion; in the week in mid-September, it was $17.322 billion.
Looking over a longer span, the cumulative trading volume over the past 30 days exceeded $76 billion. In early September, the chain’s cumulative decentralized exchange volume crossed the $300 billion threshold, with more than half completed within the past year.
Where does the volume come from? Mainly three categories: stablecoin conversions; short-term trading dominated by popular concept tokens; and stock-like assets being migrated onto the chain. Exchanges that build their own matching mechanisms take roughly 30% of that share.
During the same period, the chain is also working on a consensus upgrade that pushes block-production time down to 250 milliseconds. Speed has long been its recurring theme; what truly changes the revenue structure is the settlement component that’s becoming increasingly heavy among those three categories.
Speed is this chain’s old topic. The new topic is whether capital is willing to stay. In the past, these two problems rarely appeared together in the data.
Trading volume comes in two forms: one that turns over quickly, and one that stays long enough to keep the fees.
#Solana #Decentralized Exchange
As of now, Solana’s decentralized exchange trading volume ranks ahead of all other public chains. In September, its daily scale ranges from $1.6 billion to $3.25 billion, surpassing $2.72 billion on another chain’s exchange. On a weekly basis, it often exceeds $17 billion; in the week in mid-September, it was $17.322 billion.
Looking over a longer span, the cumulative trading volume over the past 30 days exceeded $76 billion. In early September, the chain’s cumulative decentralized exchange volume crossed the $300 billion threshold, with more than half completed within the past year.
Where does the volume come from? Mainly three categories: stablecoin conversions; short-term trading dominated by popular concept tokens; and stock-like assets being migrated onto the chain. Exchanges that build their own matching mechanisms take roughly 30% of that share.
During the same period, the chain is also working on a consensus upgrade that pushes block-production time down to 250 milliseconds. Speed has long been its recurring theme; what truly changes the revenue structure is the settlement component that’s becoming increasingly heavy among those three categories.
Speed is this chain’s old topic. The new topic is whether capital is willing to stay. In the past, these two problems rarely appeared together in the data.
Trading volume comes in two forms: one that turns over quickly, and one that stays long enough to keep the fees.
#Solana #Decentralized Exchange
