Solana (Sol), a layer-one (L1) chain, emerged as the largest blockchain in decentralized exchange (DEX) volume in March, topping Ethereum (Ethereum) by 32%.
As of March 26, Solana’s month-to-date live trading volume was approximately $49.46 billion, representing 26.94% of total reported volume across all networks. During the same period, the Ethereum network recorded a DEX trading volume of approximately $37.47 billion.
The DEX trading volume of Binance-backed BSC and Coinbase-backed BSC reached approximately $25.29 billion and $21.37 billion respectively, thus their totals remain below Solana’s figure.
On a rolling basis, Solana recorded $12.36 billion in live trading volume over the past seven days and $59.94 billion over the past 30 days, comfortably outpacing its closest competitor.
On Thursday, the top-performing live trading platforms on the Solana network included Humidifi, Orca, Meteora, Manifest, Raydium and PumpSwap, which together account for the majority of Solana’s on-chain trading activity, according to Data from Queen Gekko.
What is the impact of high Solana DEX volume on SOL price?
Although Solana’s DEX volume outperformed other chains, it has declined significantly from its peak of $156.20 billion recorded in October 2025. However, the network’s ongoing DEX activity has helped maintain a steady monthly recovery of altcoin prices.
Over the past 30 days, SOL’s price has risen 13.58% to trade around $87.40 at press time. As a result, the altcoin’s market capitalization has risen to approximately $43 billion.
Historically, an increase in decentralized trading volume has been associated with higher demand, which exerts a bullish impact on native crypto assets and vice versa.
