Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
ETH 
SOL Solana continues its lead in the spot decentralized exchange market
According to data from Blockworks Research, on October 3, Solana's trading volume on the spot decentralized exchange (DEX) exceeded the total of the Ethereum main network, all Layer 2 networks, and Hyperliquid. The comparison was released by SolanaFloor on October 4, showing that Solana topped the list in the latest full trading day.
Blockworks's dedicated dashboard records show that Solana spot DEX trading volume on the previous day was US$3.06 billion, and DEX liquidity was US$4.51 billion. This result is particularly eye-catching because the benchmark adds the Ethereum main network to the Layer 2 network and additionally includes Hyperliquid to form a broader measure of competition for on-chain trading activity.
Spot trading structure shifts towards stablecoins and tokenized assets
The performance on October 3 is part of a broader shift in decentralized spot trading. Research by 21Shares found that in the first half of 2026, Solana handled more than 36% of global spot DEX transactions. Although Solana only accounts for about 9.5% of the market value of the smart contract blockchain measured in the report, its market share is still about twice that of Ethereum.
DefiLlama's data also ranks Solana as one of the largest decentralized trading ecosystems. Its recent rankings show that Solana's 30-day DEX transaction volume was approximately US$78 billion, while Ethereum overall was approximately US$42 billion. However, since the tracking methods are not exactly the same, the total amounts vary among providers. Blockworks only counts transactions that contain two assets in its token database. This filtering is designed to eliminate artificial activity involving unidentified or trading thin tokens. As a result, the total number of Blockworks may be lower than the original blockchain transaction volume.
The composition of transactions has also changed. According to 21Shares, in the first half of 2026, Meme coins accounted for 16% of Solana's spot trading volume, a significant decrease from 40% a year ago. At the same time, the proportion of stablecoin swaps increased from 6% to 19%. This shift suggests that more and more activities are beyond purely speculative tokens. In addition, tokenized stocks have also become part of Solana's trading basis.
Comparison of market activity and size
During 2026, Blockworks Research ranked Solana as the second-best venue measured by median weekly spot trading volume, behind Binance. Still, in terms of dollar value, Solana DEX trading volume is still less than 1% of the Nasdaq or New York Stock Exchange, maintaining an objective view of size.
But judging from the number of transactions, the story is different. Solana recently processed approximately 208 million spot DEX transactions per week, compared with approximately 189 million transactions on the New York Stock Exchange in another comparison. This shows that dollar trading volume and transaction number measure different dimensions of market activity in different trading venues.
Taken together, the lead position on October 3, high 30-day trading volume and changing asset portfolio suggest that Solana is strengthening its position in on-chain spot execution. Ethereum, Layer 2 Networks and Hyperliquid remain major competitors.
