5 Solana-only protocols rank top-10 in defi volume

Key Takeaway:

  • 2021 has seen a resurgence in Solana’s popularity, leading to significant growth in Solana-based decentralized exchanges (DEX).
  • Solana DEX platforms are gaining traction in the market, with five of them appearing in the top 10 DEX volumes according to DefiLlama data.
  • SOL-native protocols are attracting attention in the crypto space, especially during the meme coin trend.

Solana DEX Growth

As traders and investors pursue returns, the recent surge in Solana’s performance has propelled SOL-native exchanges to the forefront of decentralized finance (defi) activity. DEX platforms built on Solana’s blockchain are experiencing increased trading volumes, with five Solana-only protocols ranking in the top 10 DEX volumes over the last 24 hours, according to DefiLlama data.

Top Solana DEX Providers

Leading the DEX space in daily trading volumes are Uniswap and PancakeSwap, with $1.6 billion and $616.3 million respectively. Solana’s Orca exchange secured the third spot with $322.4 million traded, followed by DODO and Raydium at fourth and fifth place, recording $227.3 million and $221.9 million respectively. Other Solana-powered exchanges such as Phoenix, Lifinity, and Meteora also made it to the top 10 list, showcasing the growing prominence of Solana in the DEX market.

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