- Solana grew from 1% to 12% market share since 2022, outpacing most centralized exchanges except Binance.
- Stablecoins on Solana surged to $10.9B, making it the world’s third-largest stablecoin ecosystem by mid-2025.
- 67% of SOL is staked, showing strong investor confidence and supporting onchain trading and DeFi growth.
Solana’s onchain trading volume exploded in 2025, reaching $1.6 trillion and surpassing all centralized exchanges except Binance. This growth signals a significant shift in how crypto traders are moving funds and executing trades.
According to Artemis Research, Solana’s market share climbed from just 1% in 2022 to 12% in 2025. On the other hand, the market dominance of Binance reduced from 80% to 55%. Therefore, the decentralized market is not a specific niche; it’s rapidly disrupting the supremacy of traditional markets.
The rise can be attributed to several reasons. First, the improvement in Solana’s network together with low fees has led to more efficient on-chain trades. Additionally, the reliance on decentralized platforms for high frequency trades as well as stablecoin trades has increased among traders.
Artemis data shows that in 2022 and 2023, centralized exchanges dominated spot volumes. Binance alone accounted for the majority of trades, while Solana’s onchain activity remained minimal. However, by 2024, Solana began gaining noticeable traction as traders diversified across decentralized venues.
Decentralized Growth Outpaces Competitors
By 2025, Solana’s onchain trading emerged as one of the largest contributors to global spot volumes. While Binance still leads in absolute numbers, its relative market share is steadily declining. Other centralized exchanges, including Bybit, Coinbase, Gate.io, and Bitget, collectively represent smaller portions compared to Solana’s growth.
Moreover, rising interest in DeFi, memecoins, and algorithmic trading has fueled user migration to Solana. The platform’s infrastructure supports complex trading strategies without the bottlenecks typical of traditional exchanges.
Stablecoin activity further illustrates this transformation. By mid-2025, Solana surpassed BNB Chain to become the world’s third-largest stablecoin ecosystem, with $10.9 billion circulating. Only Ethereum and Tron remain ahead.
Binance Research highlighted that this growth stems from real-world use, not mere speculation. Stablecoins are increasingly used across DeFi platforms, payments, and onchain settlements. Low costs and near-instant finality make Solana an ideal network for frequent dollar-denominated transfers.
Investor Confidence and Market Implications
Solana Sensei noted, “67% of the Solana Supply is currently STAKED, roughly 400 million tokens valued at around $52 billion.” Consequently, investor confidence remains extremely high, supporting further adoption. As more liquidity moves onchain, Solana is evolving into a settlement layer rather than just a high-throughput execution platform.
