Solana (SOL) ranks top in DEX trading in March, with nearly $50 billion

Solana ($SOL), a top-tier layer one (L1) chain, has emerged as the top blockchain in decentralised exchange (DEX) volume in March, leading Ethereum (ETH) by 32%.

As of March 26, Solana’s month-to-date DEX volume stood at approximately $49.46 billion, accounting for 26.94% of total reported volume across all networks. Over the same period, the Ethereum network recorded a DEX traded volume of approximately $37.47 billion.

The DEX trading volume of Binance-backed BSC and Coinbase-backed Base reached approximately $25.29 billion and $21.37 billion, respectively, thus their combined total remains below Solana’s figure.

On a rolling basis, Solana registered a DEX volume of $12.36 billion over the past seven days and $59.94 billion over the past 30 days, comfortably outpacing its nearest competitors.

On Thursday, the top-performing DEXes on the Solana network included Humidifi, Orca, Meteora, Manifest, Raydium, and PumpSwap, which collectively account for the majority of Solana’s on-chain trading activity, per data from CoinGecko.

What’s the impact of the high Solana DEX volume on $SOL price?

Although Solana’s DEX volume outshone other chains, it has declined significantly from its peak of $156.20 billion recorded in October 2025. Nonetheless, the network’s sustained DEX activity has helped sustain a steady monthly price rebound for the altcoin.

Over the past 30 days, $SOL price rallied 13.58% to trade around $87.40 at the time of publication. As a result, the altcoin’s market capitalization rose to approximately $43 billion.

Historically, an increase in DEX volume has been associated with rising demand, which exerts a bullish influence on the native crypto asset and vice versa.

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