Solana
Solana Tops Combined Ethereum and Layer-2 Spot DEX Trading Volume
Trading on Solana outpaced Ethereum mainnet, its Layer 2 networks, and Hyperliquid combined as spot activity shifted further toward stablecoins.
On October 3, Solana recorded $3.06 billion in daily spot decentralized exchange (DEX) volume alongside $4.51 billion in liquidity, according to data from Blockworks Research shared by SolanaFloor. This figure surpassed the combined volume of Ethereum mainnet, all Ethereum Layer-2 networks, and Hyperliquid during the same 24-hour period. Blockworks applies a strict filter that only includes trades between verified tokens in its database, which can keep its totals lower than raw onchain metrics.
The single-day milestone aligns with broader trading trends identified by 21Shares, which reported that Solana captured over 36% of global spot DEX volume in the first half of 2026. This accounted for roughly double Ethereum’s market share over the period, despite Solana representing around 9.5% of smart-contract blockchain market capitalization in the study. Additional data from DefiLlama showed Solana logging approximately $78 billion in 30-day DEX volume compared to about $42 billion for Ethereum.
The composition of Solana's spot trading has also evolved significantly. Research from 21Shares revealed that memecoin activity dropped to 16% of spot volume in the first half of 2026, down from 40% a year earlier. Over that same timeframe, stablecoin swaps increased from 6% to 19% of total volume, reflecting a shift toward larger asset transfers.
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