Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend

DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend

BlockBeatsBlockBeats2025/01/21 07:10
By:BlockBeats

Solana has seen approximately $3 billion in funds flow in within a week, mainly from Ethereum, Base, and Arbitrum.

Original Author: Ignas | DeFi
Original Translation: DeepTech TechFlow


Last weekend was dubbed one of the cryptocurrency field's wildest weekends. Decentralized Exchange (DEX) trading volume hit a historic high, Solana excelled in multiple dimensions, and fund flows also showed a significant shift in the market.


The following 10 charts will quickly guide you through the data and trends behind this phenomenon.


1. DEX Trading Volume Hits Historic High


Solana's Decentralized Exchange (DEX) trading volume reached $27 billion, far surpassing Ethereum's $5 billion.


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 0


2. Solana DEX Trading Volume Skyrockets


Solana's DEX trading volume surged from an average of about $5 billion to $27 billion, achieving a 5.4x increase.


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 1


3. DEX to CEX Trading Volume Ratio Reaches Historic High


Due to this phenomenon, the DEX to Centralized Exchange (CEX) trading volume ratio reached a historic high of 19%.


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 2


4. Funds Flow from Arbitrum to Solana, ETH, and Base


Data shows that Solana saw a net inflow of $153 million in one week, while Arbitrum lost $405 million.


(Is this situation related to Hyperliquid's cross-chain bridge?)


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 3


5. Visualized Analysis of Funds Flow to Solana


According to DeBridge's data analysis, Solana saw an inflow of about $300 million in one week, mainly from Ethereum, Base, and Arbitrum.


Meanwhile, Solana's outflow of funds was approximately $140 million.


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 4


6. Phantom Activity Surges


A Phantom report shows that its request volume has exceeded 8 million per minute. The total value of transactions processed through Phantom has reached $1.25 billion, involving 10 million transactions.


Based on the current 0.85% fee rate, Phantom's fee income for this period is approximately $10.6 million.


@phantom: "Transactions are now back to normal, and all systems are functioning properly.


Despite facing significant challenges, our users have achieved over $1.25 billion in transaction volume today and have completed 10 million transactions, demonstrating remarkable performance!"


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 5


7. $TRUMP Launch Day Sees Strong SOL Performance


On the day $TRUMP token launched, SOL saw its largest single-day surge against $ETH since 2021, reaching as high as 25%.


This repricing further dampened the morale of the Ethereum community and intensified calls for reform within the Ethereum Foundation.


The possibility of SOL surpassing ETH has become a hot topic of discussion.


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 6


8. Solana's Challenge: Soaring Transaction Fees


Despite its strong performance, Solana's transaction fees surged an average of 20x during this period, causing many users to experience failed transactions.


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 7


9. High Fees Benefit SOL Stakers


The high fees have brought earnings to SOL stakers, with a total fee income of $57 million. Of this, Priority Fees account for $33 million, and Jito Tips for $23.5 million.


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 8


10. Additionally, the amount of $SOL burned has reached a record $16.7 million.


However, don't rush to promote the so-called "ultra-sound money" theory, because even the burn amount of that day is only equivalent to 81% of SOL's daily issuance.


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 9


Summary: Solana's Weekend


This weekend was undoubtedly Solana's as $TRUMP, MELANIA, and $SOL took center stage in the market. Meanwhile, ETH's market sentiment once again turned negative.


DEX Trading Volume Hits $27 Billion, Visualizing Solana's Supercharged Weekend image 10


Original Article Link

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Ethereum Sees $48M Purchase From Trump-Endorsed Crypto Initiative: Future Predictions

World Liberty's Significant Ethereum Purchase: Increasing Treasury Holdings and Attracting Institutional Support

Coineagle2025/01/22 09:55

Will Q1 Trends Propel Ethereum Towards the $3500 Milestone?

Whale Accumulation, Q1 Market Trends, and Ethereum Foundation Shifts: Key Drivers for Ethereum's Potential Surge to $3500

Coineagle2025/01/22 09:55

SEC Appoints Hester Peirce to Cryptocurrency Task Force: The Bullish Development Everyone Expected Could Be Coming Soon

The SEC has appointed cryptocurrency advocate Hester Peirce to head its newly formed cryptocurrency task force. So what happens now?

Bitcoinsistemi2025/01/22 09:44

Investment Giant BlackRock Continues Its Leadership in Both Bitcoin and Ethereum ETFs! Here Are the Details

Both Bitcoin and Ethereum continue to attract institutional capital, with spot exchange-traded funds reporting significant net inflows.

Bitcoinsistemi2025/01/22 09:44