New York, June 22, 2026, 08:02 (EDT)
- Solana’s decentralized exchanges posted $1.31 billion in 24-hour trading volume, with $9.92 billion for the past week, according to DeFiLlama. That puts Solana in line with some of the large spot exchanges.
- Solana posted $7.19 billion in spot trading for the week of June 12-18, topping Coinbase and Kraken but trailing Binance and Bybit, according to reports.
- Kraken and Coinbase are adding Solana DEX access to their apps, moving to keep flows on their platforms. Centralized exchanges aren’t just ignoring it.
Solana’s decentralized-exchange market is now trading at levels close to big centralized players. Recent data and sector reports show Solana-based trading volumes topping Coinbase and Kraken, and sometimes nearly matching Bybit.
Decentralized exchanges, or DEXs, run swaps over blockchain protocols instead of a company-run order book. That difference is getting more attention as the trading flow moves beyond technical talk among crypto pros. It’s turning into a test case for where both retail users and high-speed token traders end up trading.
DeFiLlama’s Solana dashboard showed $1.312 billion in decentralized exchange volume over 24 hours, with seven-day DEX volume at $9.924 billion. The dashboard also reported $2.24 million in app revenue for the day. SOL, Solana’s token, was priced close to $73.70 according to DeFiLlama, while CoinGecko listed SOL near $74, up about 1% in 24 hours.
Solana has overtaken Bybit again in global spot crypto trading volume, putting it second behind Binance for a second day, according to a June 21 report from Coinfomania that quoted SolanaFloor. The report did not share the complete methodology. Crypto platform rankings can change quickly based on which exchanges and sources are used.
June 12-18 saw a stronger week for spot Solana trading. MEXC, citing CoinTurk, put Solana’s weekly spot volume at $7.187 billion. That’s above Coinbase at about $6 billion and Kraken at around $4 billion. Binance topped the list with $34.392 billion. Bybit was next with $9.473 billion.
Centralized exchange figures show the comparison isn’t straightforward. CoinMarketCap put Coinbase Exchange’s 24-hour spot volume at around $878 million, Kraken at about $661 million, and Bybit coming in at roughly $1.299 billion. The site’s bigger exchange table uses more factors than reported volume alone.
Centralized exchanges are working to bring on-chain trading closer to users. Kraken said June 18 that its app now lets eligible users in the U.S. and over 100 countries trade more than 2,500 Solana tokens, including those not listed on centralized platforms. “This is about access,” Kamo Asatryan, chief data officer at Payward and global head of consumer, said in the announcement. Kraken Blog
Coinbase also announced in December that it would add Jupiter, the top DEX aggregator on Solana, to its platform. This means users can now swap Solana tokens directly in the main Coinbase app. The move puts Coinbase and Kraken up against Solana’s DEX stack, but at the same time, they become channels that help distribute it.
Solana is getting attention that goes beyond just last week’s leaderboard. Lucas Tcheyan, vice president of research at Galaxy, said on June 1 that Solana kept its lead in DEX volume for the fifth quarter in a row. DEX volumes on Solana dropped 31% from the previous quarter, but the chain still held the top spot. Galaxy said proprietary automated market makers on Solana are making its spot market more competitive with centralized venues on some SOL-stablecoin pairs.
But the weakness is clear. Galaxy said most Solana activity is still about “speculative trading cycles” and memecoins, stronger than on rival chains. Pump.fun made up 32% of Solana app fees in the first quarter. So if traders cool or new tokens slow down, volumes could drop quickly. Galaxy
Volume is only part of the picture. SOL Strategies disclosed June 8 that it sold 65,001 SOL at an average C$87.88 to settle about C$5.75 million in debt. CEO Michael Hubbard called it an effort to “clean up our balance sheet.” Hubbard also said the focus stays on the “Solana Economy.” SOL STRATEGIES
A separate OpenPR release linked the SOL Strategies sale to pushing Ruvi, which is in an AI-token presale. The release made promotional claims about Ruvi’s product, token supply and expected returns. Those details weren’t independently confirmed in the reviewed material.
For investors, the question is different now. Solana isn’t trying to show that traders can swap assets at scale on a blockchain anymore. Instead, it has to show if the volume sticks around after meme-token demand slows down, after centralized exchanges take the easy parts of DEXs, and if users end up valuing safety more than speed.
