The Solana blockchain is hitting back-to-back milestones on DEXs while SOL price struggles to keep up in the market. Fresh data shows that Solana is leading all chains in weekly DEX volume for the 5th consecutive week, hitting $26.24 billion in the last 7 days with a surge of over 15%.
The global digital assets market remained marginally down on Monday morning after recording a week full of high fluctuations. The biggest coins like Ethereum (ETH) and Solana (SOL) dropped by 4% and 6%, respectively. The cumulative crypto market cap dropped by 2% over the last 24 hours to stand at $3.25 trillion, with a trading volume of $151 billion.
Solana is eating Ethereum’s lunch
As per DefiLlama data, Solana-based DEXs volume stood at $2.96 billion in the last 24 hours, while BSC saw $4.36 billion volume in the same period. However, the chain is holding the top spot in weekly volume, with DEX total value locked (TVL) of 3.33 billion.
Over 325K new tokens were launched on Solana in the last 7 days. The chain has posted inflows of around $175 million worth of assets from other chains. This influx includes $90 million coming straight from Ethereum alone.
📊REPORT: In the last 7 days, @Solana saw inflows of over $175 million worth of assets from other chains.
(This includes $90M+ from Ethereum to Solana alone) pic.twitter.com/uDvyTW0Fd7
— SolanaFloor (@SolanaFloor) May 19, 2025
Data from Top Ledger shows that Solana-based DEXs have processed over $905 billion in trading volume so far, and we are still in May. January alone accounted for over $408 billion in volume, driven by a powerful crypto market rally that started in late 2024 and peaked in early 2025.
Solanafloor shared that Solana-based apps are continuing to dominate revenue and surpassing the combined revenue of all other chain apps. Axiom has generated a revenue of over $21 million to take the top spot, while Pump.fun has managed to book revenue of more than $8 million.
Ethereum drops 4% TVL last week
The biggest chain, Ethereum, seems to be losing ground a bit as its weekly DEX volume dropped by more than 2% to stand at $15.71 billion. On the other hand, BSC is climbing up with a weekly surge of 76% and hitting $25.53 billion.
Ethereum has lost around 4% of its DeFi TVL in the last 7 days but is still up by 31% over the past month. Its TVL stands at $60.23 billion with 1340 protocols. Solana has also recorded similar actions as its TVL is down by 4.12% in the last 7 days and up by 28% over the past month.
ETH price has surged by over 50% in the last 30 days, depicting a massive recovery. However, its price has dropped by 6% in the last 7 days. Ethereum is trading at an average price of $2,412 as of press time. Its 24-hour trading volume is up by 132% to $32.8 billion.
Solana, which is the biggest competition for Ethereum right now, recorded a jump of 17% in the last 30 days after losing 8% of its gain over the 7 days. SOL is trading at an average price of $162 as of press time. Its 24-hour trading volume is up by 129% to stand at $5.26 billion.
