Solana DEX Spot Volume Surpasses $1.7T YTD, Overtakes Bybit to Rank Second Globally Behind Binance

News Brief

According to data from Artemis, year‑to‑date (YTD) spot trading volume across decentralized exchanges (DEXs) on Solana has exceeded $1.7 trillion. Trading activity continues to accelerate, with Solana DEXs surpassing centralized exchange Bybit in total spot volume, ranking second globally, behind only Binance.

According to data from Artemis, year‑to‑date (YTD) spot trading volume across decentralized exchanges (DEXs) on Solana has exceeded $1.7 trillion. Trading activity continues to accelerate, with Solana DEXs surpassing centralized exchange Bybit in total spot volume, ranking second globally, behind only Binance.

Key Highlights

• Volume milestone: Solana DEX spot trading volume has surpassed $1.7 trillion YTD
• Ranking shift: Total spot volume has overtaken Bybit, placing Solana DEXs at No. 2 globally
• Top comparison: Currently second only to Binance, ahead of other major centralized and decentralized platforms
• Data source: Artemis

Key Drivers Behind the Surge

Market participants widely attribute the rapid growth in Solana DEX volume to several factors:

• High‑performance Solana network: High throughput and low transaction fees significantly reduce costs for high‑frequency trading and market making
• Expanding DEX ecosystem: Core protocols such as Jupiter, Raydium, and Orca continue to see strong trading activity
• Active meme and new‑asset trading: Frequent new token launches and short‑term trading have driven spot volume higher
• Shift in user behavior: A portion of spot trading demand is migrating from CEXs to on‑chain markets

Market Implications

• Rising prominence of DEXs: Solana DEXs now operate at a scale comparable to top centralized exchanges
• Blurring CEX/DEX boundaries: Improved on‑chain aggregation and execution experience are making DEXs a mainstream trading venue
• Strengthening Solana’s ecosystem: Growing trading volumes further reinforce Solana’s position as a leading high‑performance blockchain

What to Watch Next

Market focus will likely center on:

• Whether Solana DEX volumes can sustain growth from a high base
• How quickly the gap with Binance may narrow
• On‑chain liquidity depth, MEV dynamics, and network stability
• Potential responses from CEXs, including on‑chain or hybrid trading offerings

Conclusion

Solana DEX spot volume surpassing $1.7 trillion YTD and overtaking Bybit marks a major milestone for on‑chain spot markets. As performance, cost efficiency, and user experience continue to improve, decentralized exchanges are becoming an increasingly central force in the global spot trading landscape.