Solana’s (SOL) DEX Volume Breaks a Record by Exceeding 100 Billion Dollars! Here’s Why

Solana’s decentralized exchanges (DEX) reached a groundbreaking milestone in November, with monthly trading volumes increasing for the first time 100 billion dollars exceeded.

Solana DEX Volume Broke a Record of $100 Billion in November

Important Statistics

• November DEX Volume: $109.8 billion (as of now).
• Comparison to Ethereum Mainnet: Almost double Ethereum’s $55 billion DEX volume this month.
• Month-over-Month Growth: Over 100% increase compared to $52.5 billion in October.

Cryptocurrency analyst Eden Au attributes this increase to the ongoing memecoin craze combined with Solana’s low transaction fees and user-friendly infrastructure.

Platforms such as Pump.fun and Raydium have contributed significantly to this growth:

• Pump.fun Monthly Fees: $71.5 million.
• Raydium Monthly Fees: $182 million.
• Both reached record highs in November, according to DefiLlama data.

Solana recorded 107.5 million active addresses in November and has the potential to surpass October’s record of 123 million before the month is out.

Au predicts continued retail user growth in the coming years, especially with a possible bull market in 2025. “Retail speculators seeking higher returns will likely flock to the memecoin space as liquidity flows downward from major cryptocurrencies,” he said.

Solana’s native cryptocurrency, SOL, is currently trading at $251 following a record-breaking market rally. Last week, SOL reached an all-time high of $263, surpassing its 2021 record.

With its growing user base and innovative ecosystem, Solana continues to emerge as a major player in the cryptocurrency market, surpassing Ethereum in DEX volumes and increasing retail and institutional interest.

*This is not investment advice.