Solana Tops DEX Volume With $43.9B, Overtakes Ethereum in May
Solana overtook Ethereum and Base to lead $178B in tracked DEX activity — the top four chains now absorb nearly three-quarters of all on-chain spot flow.
Solana is a high-performance Layer 1 blockchain built to support decentralized applications at scale. Rather than relying on sharding or layered architectures, it maintains a single unified ledger, an approach intended to avoid liquidity fragmentation while still processing thousands of transactions per second with sub-second finality and minimal fees. The network combines Proof of Stake with a mechanism called Proof of History, which provides a cryptographic clock for timestamping transactions and reduces the coordination overhead between validators. This design enables parallel execution of smart contracts across multiple CPU cores, along with protocols such as Gulf Stream that forward transactions ahead of block finalization to shorten confirmation times. Founded in 2017 by Anatoly Yakovenko, the project is supported by the Switzerland-based Solana Foundation and has drawn backing from major venture firms including Andreessen Horowitz, Polychain Capital, Multicoin Capital, and Alameda Research. The native token, SOL, is used to pay transaction fees, participate in on-chain governance, and secure the network through staking. Beyond its core infrastructure role, SOL sits within a broader ecosystem of decentralized finance, consumer applications, and institutional integrations spanning payments and tokenized assets.
Solana overtook Ethereum and Base to lead $178B in tracked DEX activity — the top four chains now absorb nearly three-quarters of all on-chain spot flow.
The two-day flush cut open interest 8.5% to $111.4B and pushed put skews sharply higher on both BTC and ETH — the $60K Deribit put alone now carries over $1B in notional open interest, the kind of…
The market-cap gap is still ~38x in Solana's favor, but HYPE's perps volume and fee capture have structurally outgrown what a pure L1 should be earning on-chain.
The brief depeg tracks a 4th STRC sub-par episode since August — each previous one mean-reverted, but the peg's sensitivity to preferred-equity volatility is now on the record for the wider market to…
Bitcoin, ether, solana and XRP funds are all in net redemption simultaneously for the first time — a coordinated altcoin reversal that turns the post-ETF-launch inflow story on its head, with…
Solana's SOL token has fallen to its lowest price levels since 2023, a decline steep enough that Hyperliquid's HYPE…
Hyperliquid's native token HYPE has overtaken Solana's SOL in nominal price per token, marking a notable milestone for…
Bitcoin and Ethereum products together shed more than half a billion dollars on June 3, while the only category still attracting net new money is the year-old Solana product line.
Solayer has launched Margin Trade on mainnet, bringing a fully Solana-native onchain perpetuals trading platform to the…
The DeFi Education Fund, Solana Policy Institute and Uniswap Labs are now putting money behind candidates who back the Blockchain Regulatory Certainty Act — a provision stripped of its sanctions…
The product targets the binding constraint in modern on-chain and CEX execution: physical distance to matching engines and validator sets, measured from probes in 14 cities across five continents.
Payward's mechanism routes retail demand through an underwriting syndicate so investors outside the US institutional loop can get tokenized allocations at the same price as the banks — a structural…
The liquidation cascade is the headline, but the extreme-fear sentiment print and the persistence of spot BTC ETF outflows suggest the flush hasn't fully cleared the weak hands yet.
The dollar number is loud, but the more telling signal is open interest climbing into the cascade — new shorts are opening on top of the long flush, and the market has not yet found a clearing level.
The 6.4% BTC drop and ETH breaking $1,900 came even as the MSCI ACWI set an all-time high — a decoupling that points to crypto-specific overhangs, not a broad risk-off move.
The framework spans six chains and gives banks intraday, weekend and holiday settlement — pushing card-network plumbing closer to an always-on model and turning stablecoins into routine settlement…
Bitcoin's 12% weekly drop is pulling ETH, SOL and XRP down with it, but USDT and USDC market shares are climbing to levels last seen in the January–February sell-off — a flight to dollar liquidity…
A 5% drop triggered the kind of cascade leverage builds into a market: $1B liquidated in 24 hours, Strategy broke its never-sell streak, and BTC slipped below every short-term cost basis Glassnode…
Solana's spot ETFs are the only one of the three printing green — the divergence lands on a day Bitcoin tagged a fresh all-time high.
Wazz's "forced selling hasn't even started yet" line captures the real fear: the digital asset treasury industry's capital structures are now being tested against a backdrop where number-go-up no…
Solana is a high-performance Layer 1 blockchain designed for mass adoption by providing a fast, secure, and low-cost environment for decentralized applications.
Solana (SOL) is categorised as: Smart Contract Platform, Solana Ecosystem, Layer 1 (L1).
The official Solana site is https://solana.com/.
Most recent Solana coverage: "Solana Tops DEX Volume With $43.9B, Overtakes Ethereum in May" — read at /en-US/a/solana-tops-may-dex-volume-at-439b-as-total-hits-178b.