Solana DEX Volume Hits 7-Month Low Despite Institutional Growth
Solana’s DEX slowdown matters but I do not think the story is as simple as activity fading. DefiLlama shows Solana’s 30 day DEX volume at about $55.4 billion which points to a real cooldown after a much hotter stretch. That is why this topic is getting attention now because it gives a more honest view of what was driving momentum before. Much of the noise came from speculative trading and once that starts to cool the gap becomes easy to see. What still stands out is that institutions have not really stepped back. The Solana Foundation said February saw $650 billion in stablecoin transaction volume while Goldman Sachs disclosed $108 million in SOL holdings and BlackRock’s BUIDL fund cleared $550 million on Solana. It also launched the Solana Developer Platform with early support from Mastercard Western Union and Worldpay. My view stays the same. Traders have gone quieter while the infrastructure story keeps moving.