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

By: blockbeats|2025/01/21 15:15:02
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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 7 Billion, Visualizing Solana's Supercharged Weekend

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.

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%.

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?)

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.

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!"

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.

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.

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.

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.

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.

Original Article Link

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