Solana Outperforms Rivals as DEX Volumes Surpass $5B
The post Solana Outperforms Rivals as DEX Volumes Surpass $5B appeared on BitcoinEthereumNews.com.
Key Notes Solana DEX volumes hit $5.11 billion, surpassing Ethereum and BNB Chain in weekend DeFi rotations. Over 2.9 million SOL, worth $475 million, has been staked since Friday, reducing the active supply. Key technical indicators signal resistance near $180 despite strong network activity. Solana price saw 5% gains on Sunday, November 9, as heavy on-chain rotations among DeFi protocol users lifted the token above the $165 level for the first time in five days. However, key technical indicators now pose early warning signals of a potential short-term reversal as SOL approaches key resistance near the 20-day moving average. Solana top #1 in DEX Volume (last 24h) pic.twitter.com/TCf62gARzM — Solana Sensei (@SolanaSensei) November 9, 2025 The Solana price closed above $165 on Sunday, after consolidating below this level since November 5. Its performance aligned with the broader market recovery that saw most top 10-ranked cryptocurrencies post modest gains over the weekend. Bitcoin rose 3% to reclaim $104,000, while Ethereum advanced 6% to trade near $3,900. Beyond price action, investors demonstrated a preference for Solana in DeFi activity. Citing Defilama data on Sunday, a community contributor, posting as Solanasensie, highlighted on X that Solana’s decentralized exchanges recorded $5.11 billion in daily volumes, surpassing Ethereum’s $3.8 billion and BNB Chain’s $2.95 billion. Total Solana Staked Increased by 2.9 million SOL ($475 million) | Source: StakingRewards.com Spikes in metrics like DEX volumes during uncertain market phases reflect an intent to rotate capital within Solana-native DeFi protocols, potentially mitigating market downturns with passive yield rather than exiting or holding stablecoins. This helps keep capital within the ecosystem, as affirmed by Solana’s recent staking data. Between Friday and Sunday, the total SOL stake increased from 414.5 million to 417.4 million, according to StakingRewards. The 2.9 million SOL staking surge temporarily reduces short-term supply on exchanges,…
Filed under: News - @ November 9, 2025 10:48 pm