Solana DEXs Outpace NYSE in Weekly Trades, Process 208 Million Transactions

Decentralized exchanges operating on the Solana blockchain have seen significant growth in recent weeks, surpassing even the New York Stock Exchange (NYSE) in weekly trades. According to data from Flipthe.market and analyzed by Blockworks Research, Solana-based DEXs recorded approximately 208 million trades between September 14 and 20, outpacing the NYSE's 189 million trades for the same period.

This milestone highlights the increasing activity on Solana's onchain trading platforms. While trade frequency does not directly represent total value exchanged, it suggests a growing interest in decentralized markets. The Solana DEXs handled around $17.3 billion in trading volume during this week, with major contributors including Raydium, Pump, and Orca.

The surge in onchain trading activity has coincided with a notable rise in the price of SOL, which climbed from $96.93 on September 15 to $117.9 on September 22, a gain of approximately 20%. The token also reached an intraday high of $119.43 on September 22, with a market capitalization standing at around $69.8 billion.