Solana Surpasses Ethereum in DEX Volume with $3.06B Daily Spot Trading

Solana has taken the top spot in decentralized exchange (DEX) volume, surpassing Ethereum and its Layer 2 networks combined. According to Blockworks Research data, Solana logged $3.06 billion in daily spot DEX volume on October 3, marking a significant milestone for the network.

The comparison is based on a benchmark that combines Ethereum mainnet with L2s and adds Hyperliquid, providing a comprehensive measure of competing on-chain trading activity. This result follows a broader shift in decentralized spot trading, where Solana has been gaining ground.

Research from 21Shares found that Solana handled more than 36% of global spot DEX volume during the first half of 2026, roughly double Ethereum's share. DefiLlama data also placed Solana among the largest decentralized trading ecosystems, with about $78 billion in 30-day DEX volume compared to roughly $42 billion for Ethereum.

The trading mix has also changed, with a larger share of activity moving beyond purely speculative tokens. Memecoins accounted for 16% of Solana spot volume in H1 2026, down from 40% one year earlier, while stablecoin swaps rose to 19% from 6% over the same period.