Solana decentralized exchanges processed about 208 million spot trades in the week ending Sept. 13, topping the NYSE's roughly 190 million transactions for the first time. Jupiter drove much of the surge, and the milestone lands as SOL reclaims key long-term technical levels.
Solana DEX Trades Overtake the NYSE
Solana crossed a threshold that would have sounded far-fetched a few years ago. Onchain decentralized exchanges on the network processed roughly 208 million spot trades in the week ending Sept. 13, according to data cited by The Kobeissi Letter. That topped the 190 million trades recorded on the New York Stock Exchange over the same period.
The gap with Nasdaq also narrowed to about 47 million trades, the smallest on record. Still, a Solana DEX swap is not economically equivalent to an equity trade on the NYSE — trade sizes, market structure and underlying assets differ sharply. The raw activity, however, is difficult to ignore.
Jupiter Fuels the Surge
Much of the acceleration has come through Jupiter, Solana's largest trading aggregator. Jupiter has processed more than 80 million trades this month, a 38% month-over-month increase. Weekly Solana spot DEX trade activity has climbed 185% from July lows.
A separate estimate from Solana Sensei, citing Defillama data, puts total Solana DEX volume at about $168 billion so far in the third quarter, with activity averaging roughly $2.5 billion a day. For traders, the gap between trade count and dollar volume matters, but both measures point to a network increasingly used as active market infrastructure rather than a venue for passive token holding.
Paul Barron captured the community reaction, writing: "Now you know, nothing stoppin[g] this train!"
SOL Price Adds to the Narrative
The trading surge arrives as SOL's price has reclaimed its 50-week moving average and exponential moving average. Trader Sweep noted that the last comparable reclaim in 2023 preceded a roughly 650% rally over the following six months, while stopping short of predicting a repeat.
Solana has not suddenly become bigger than the NYSE. But a public blockchain processing more individual weekly trades than one of the world's most famous stock exchanges is a milestone worth watching.
Source: Bitcoin.com News
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