Solana's decentralized exchange (DEX) has reached an impressive $4.15 billion in trading volume over a 24-hour period. Despite this significant achievement, the price of Solana's native token remains 57% below its all-time high.
This trading volume positions Solana ahead of its competitors, including BNB Chain and the newly launched Robinhood Chain, which accumulated roughly $3.1 billion in total DEX volume during its first week, according to Bernstein research.
The surge in volume is primarily fueled by speculative trading in memecoins, rather than widespread adoption of the underlying technology. Currently, the price of SOL stands at $75.82, significantly lower than its peak reached in Q4 2025. Market projections suggest a moderate possibility of Solana's price hitting $90 by the end of July.
Robinhood Chain, placed third in the DEX volume rankings with around $809 million in daily trading, launched its mainnet on July 1. In contrast, Solana's performance highlights its position as a leading platform for on-chain trading, showcasing its deep-rooted dominance as a non-Ethereum smart contract network.
As it stands, Robinhood Chain has attracted 65,000 users and has recorded a total value locked exceeding $100 million shortly after its launch. However, these figures do not come close to Solana's daily trading capabilities, underscoring the current market dynamics and user behavior.
This article is for informational purposes only and should not be considered financial advice.
