Solana DeFi has been quietly getting a facelift, and nobody is talking about it. Quick 🧵 👇 Over the last 30 days, DEX volumes are averaging $5.6b/day. That's 86% off the highs established in Q1, but still 2x what the network was doing one year ago. But what's more interesting is where the flows are shifting...
They are shifting to Private DEXs. Roughly 1/3 of Solana DEX volume is now being routed through Private DEXs.
HumidiFi has market share amongst Private DEXs right now with roughly 60% of the volume. Tessera is #2 with roughly 15%. Followed by SolFi with roughly 10%.
Jupiter is benefiting from the growth of Private AMMs by offering tighter spreads and superior execution to its users. As a result, the top Private DEXs are now doing more volume through Jupiter than the top Public DEXs. As this plays out, Raydium's share of Solana DEX volumes has dropped from 57% one year ago to 25% today.
Shifting to Trading Platform Revenue, where Axiom has taken a 71% market share. Trading Bot/Platform revenues are currently down 90% from the peak in Q1, but up 65% from one year ago. In terms of market share, Photon is #2 with 6.7%. Trojan is #3 with 5.8%. GMGN is #4 with 5.2% And Padre is #5 with 5.1%
Wrapping up with New Launchpad Tokens. After losing market share in July to Bonk/Raydium, Pump is back in the drivers seat with over 75% of new token launches over the last 30 days. Meteora is #2 with a 20% market share. And Raydium has dropped to just 4.58% over the last 30 days. In total, new token issuance is currently down 66% from the highs established in Q1
We covered it all and MUCH more in the Q3 edition of The SOL Report. Download a copy: Access the Dune Dashboard: powered by @solsticefi 🤝
2,07k
7
Innholdet på denne siden er levert av tredjeparter. Med mindre annet er oppgitt, er ikke OKX forfatteren av de siterte artikkelen(e) og krever ingen opphavsrett til materialet. Innholdet er kun gitt for informasjonsformål og representerer ikke synspunktene til OKX. Det er ikke ment å være en anbefaling av noe slag og bør ikke betraktes som investeringsråd eller en oppfordring om å kjøpe eller selge digitale aktiva. I den grad generativ AI brukes til å gi sammendrag eller annen informasjon, kan slikt AI-generert innhold være unøyaktig eller inkonsekvent. Vennligst les den koblede artikkelen for mer detaljer og informasjon. OKX er ikke ansvarlig for innhold som er vert på tredjeparts nettsteder. Beholdning av digitale aktiva, inkludert stablecoins og NFT-er, innebærer en høy grad av risiko og kan svinge mye. Du bør nøye vurdere om handel eller innehav av digitale aktiva passer for deg i lys av din økonomiske tilstand.