Over the past ten months, Solana has established itself as the most active network on decentralized exchanges (DEX), displacing Ethereum from a space it had historically dominated.
The following chart shows the trend. The purple bars represent Solana's values, while the green bars represent Ethereum's values:
Solana surpasses Ethereum in DEX volume. Source: Solana/X.
DEX volume refers to the sum of the value of all transactions made on decentralized exchange platforms on both chains. Unlike centralized exchanges, on DEXs transactions are processed directly on-chain, in real-time, using smart contracts, which more directly reflects the level of activity on each network.
According to data from Artemis, Solana has outperformed Ethereum in DEX volume almost uninterruptedly since October 2024. The only exception was in March 2025, when Ethereum briefly surpassed it. The remainder of the period shows a sustained advantage for Solana in this metric.
The month with the largest gap between the two networks was January 2025. That month, Artemis data shows, Solana accumulated DEX volume equivalent to $262 billion, compared to Ethereum's $86 billion. The gap equates to 204% more activity on Solana than its competitor.
However, SolanaFloor's records show a much wider variation, with figures that place Solana at around $400 billion in the same month. The discrepancy reflects that while methodologies may differ between data providers, the general trend is toward Solana's dominance.
On the other hand, according to data from the analytics site SolanaFloor, in July the DEX trading volume on Solana reached $124 billion, which represents an increase of 56% compared to June and 42% above what was recorded on Ethereum in the same month.
These statistics on DeFi trading volume imply a reconfiguration of network usage. While Ethereum remains the most widely used infrastructure for smart contracts, Solana has established itself as the preferred network for decentralized exchanges, a key indicator of activity within the ecosystem.
