How Solana’s DEX and Memecoin Boom Powered Its 2025 Lead

[cryptoenthusiast]

Solana’s position as the most active blockchain in 2025 was fueled by an explosive surge in decentralized exchange activity. According to CoinGecko, Solana-based DEXs captured roughly 40% of the industry’s market share in the first quarter, processing $293.7 billion in trading volume. This growth was closely tied to a memecoin frenzy that turned Solana into the epicenter of high-velocity retail trading.

Data from DefiLlama showed Solana consistently posting monthly DEX volumes near or above $100 billion throughout the year. Similar memecoin-driven activity also emerged on BNB Chain, helping explain why both networks ranked near the top in total transactions despite very different ecosystem structures.

[nihalsari]

40% market share per CoinGecko is kinda nuts, didnt realize it was that dominant