Solana Blockchain Becomes a Leader in Daily Cryptocurrency Transactions

The Solana network SOL $133.13 Binance-Peg SOL -5.98% Market capitalization $0.15 billion VOL. 24 hours $0.47 billion has outperformed all other blockchains in terms of daily trading volume on decentralized exchanges. Over the past 24 hours, more transactions have been conducted through its DeFi protocols than through Ethereum with its second-level solutions. Thus, Solana became the leader in terms of activity in the DeFi sector in early 2025.

In the first quarter, the network captured 39.6% of the total trading volume on decentralized exchanges, and in January, this share reached a record 52%. Despite the market’s caution due to trade disputes and a decline in interest in speculative tokens, Solana remained the most active DeFi platform.

Meme tokens accounted for a significant share of traffic, but analysts point to a gradual decline in interest in them. After a peak in mid-January, when the daily trading volume reached $ 35.89 billion, the figure fell below $ 1 billion in March. However, the last two weeks have seen a new revival, with volumes again exceeding $ 2.5 billion per day.

The network’s revenues from commissions rose to a record $ 17.77 million in January, but fell below $ 470 thousand in March, reflecting a decline in speculative activity. At the same time, the capitalization of stablecoins on Solana reached $ 12.65 billion, which indicates the accumulation of liquidity in anticipation of a new wave of market activity.

The native SOL token almost reached $ 300 in January, but dropped below $ 100 in early April. Nevertheless, the recent pause in the trade disputes caused the rate to rise by 42%, and it is currently trading at $ 138. This makes SOL the most profitable asset among the top 10 cryptocurrencies over the past two weeks.