Citing Coinotag, Solana dominated decentralized exchange (DEX) trading volumes in 2025, recording over $100 billion in monthly DEX activity for six consecutive months. In December 2025, Solana’s DEX volume reached $100 billion, surpassing Ethereum’s $48 billion and BNB Chain’s $58 billion. PumpSwap and HumidiFi were key contributors, with PumpSwap processing $14.8 billion in December and HumidiFi recording over $30 billion in monthly dark pool volumes. Solana’s daily trading peaks exceeded $3 billion, outpacing Hyperliquid’s $8 billion monthly volume. The network also benefited from $7.75 billion in USDC minting by Circle in December, enhancing stablecoin liquidity for DEX pairs.
Solana Leads 2025 DEX Volumes Amid PumpSwap, HumidiFi Surge
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Summary
Solana led trading activity in 2025, with DEX trading volume hitting $100 billion in December, up from six straight months above that level. The network outpaced Ethereum’s $48 billion and BNB Chain’s $58 billion. PumpSwap and HumidiFi fueled the growth, with PumpSwap handling $14.8 billion and HumidiFi’s dark pools reaching $30 billion. Daily trading peaks on Solana topped $3 billion, while USDC minting hit $7.75 billion, boosting DEX liquidity.
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