Solana Surpasses NYSE in Raw Transaction Count with 208 Million Trades

Solana's decentralized exchange (DEX) ecosystem has made headlines after executing over 208 million trades in a single week, surpassing the New York Stock Exchange (NYSE) and closing in on Nasdaq. This impressive feat is based on raw transaction count, not dollar value.

However, it's essential to note that NYSE trades involve institutional block orders worth millions of dollars apiece, while many Solana DEX transactions are sub-dollar swaps or automated bot activity.

Raydium, the dominant DEX protocol on Solana, has been a central engine behind this activity, accounting for approximately 63% to 70% of tokenized equity trading volume during peak periods. On September 12, Solana's tokenized equity trading volume exceeded $200 million in a single day, outpacing the combined tokenized equity volume on NYSE and Nasdaq by more than $100 million.

The ecosystem's 24/7 advantage is also noteworthy, with 63% of Solana's tokenized equity trading activity occurring outside regular US market hours. This is because traditional stock exchanges operate roughly six and a half hours per day, five days a week, whereas Solana's DEXs never close.