Solana's decentralized exchange (DEX) volume reached a significant milestone of $806.8 billion in 2025, according to data from Top Ledger. This represents a 400% year-over-year increase from the same period in 2024, where DEX volume stood at $201 billion. The surge was largely concentrated in January, which alone accounted for more than half the annual volume, coinciding with a major crypto market rally and a spike in SOL prices.
As the year progressed, DEX volumes in USD terms reverted to pre-rally levels by March, while SOL-denominated volumes also saw a temporary increase in January before normalizing.
Jupiter maintained dominance as the largest DEX aggregator on the Solana network, contributing over $334.6 billion in volume (55% market share). Other notable platforms included OKX (5.21%), Pump.fun (2.8%), and, on the execution layer, Raydium ($352.8 billion), Meteora ($113.7 billion), Orca ($103.9 billion), and SolFi ($97.9 billion).
This explosive growth reflects rising adoption of the Solana ecosystem. By Q1 2025, Solana controlled 23% of total DEX volume across all blockchains, second only to Ethereum’s 30% share.
