Solana Overtakes Ethereum on DEX Platforms Amid Surging Liquidity and Trading Volume

Jakarta, Pintu News – Recently, Solana (SOL) has surpassed Ethereum (ETH) in terms of trading volume on decentralized exchanges (DEXs), signaling a significant shift in liquidity in the on-chain market.

According to data from DefiLlama, Solana recorded a DEX trading volume of $5.84 billion in the last 24 hours (10/14), slightly higher than Ethereum which recorded $5.75 billion.

In the past 30 days, the total DEX transactions on the Solana network reached nearly $137 billion, demonstrating its growing dominance in the decentralized finance ecosystem.

Stablecoin Growth on Solana Triggers Liquidity Surge

The increase in on-chain activity on the Solana network coincides with a significant surge in stablecoin supply, which is now at a record high of $17.5 billion, according to data from Artemis.

Read also: Ethereum Falls to $4,000 on October 15 – Is the Uptrend Losing Steam?

This influx of liquidity strengthens Solana’s position as a favorite platform for high-frequency traders and automated liquidity providers (AMMs).

Stablecoins such as USDC and PYUSD are now key liquidity anchors across Solana’s large DEXs, including Jupiter, Raydium, and Phoenix. The presence of these stablecoins allows for a seamless asset exchange process with order book depth remaining high, even when market volatility increases.

This surge in stablecoin circulation is not just speculative capital flows, but rather shows the growing participation of institutional and DeFi players in the Solana ecosystem.

This is all the more relevant after the recent market turmoil that tested the resilience of the network and briefly pushed SOL prices down.

SOL Prices Rise Amid Growing Market Confidence

SOL’s price also reflects improved market sentiment. Based on data from TradingView, the SOL token price rose 5.78% on October 14 and was trading at $208.60 when this article was written.

Analysis shows that the price of SOL dropped from around $221 to $177 between October 10 and 11.

Currently, the Relative Strength Index (RSI) indicator is at 47.7, which signals neutral momentum but still has room to rise if buying pressure continues.

Read also: Why One Expert Believes XRP and ONDO Are Leading the Charge Toward Wall Street 2.0

After the massive sell-off in the crypto market last week, SOL prices found support around $180 and rallied again as on-chain volumes and liquidity on DEX increased.

Technically, the nearest resistance level is around $220, while maintaining support around $190 could help sustain the upward trend.

Solana’s Steady Rise

Solana’s performance reflects broader trends in the crypto market, with the network consistently closing the gap with Ethereum in terms of trading activity and attractiveness to developers throughout 2025.

The growing ecosystem of DeFi applications, as well as increased transaction capacity, has strengthened Solana’s position as a serious contender in the world of decentralized finance (DeFi).

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• AMB Crypto. Solana overtakes Ethereum in DEX trading volume as liquidity surges. Accessed on October 15, 2025