Solana's Sol to USD On-Chain Trading Dominates for Three Consecutive Months

quietly_staking · 2026-01-28T18:12:48+00:00

Recent data shows that on-chain SOL to USD trading on Solana has surpassed centralized exchanges, with over 60% of transactions occurring directly on the blockchain. This shift indicates growing confidence in Solana as a key liquidity hub in the crypto ecosystem.

quietly_staking

2026-01-28 18:12:48

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Recent market data reveals a significant shift in how SOL tokens are being traded. According to crypto researcher Kaviish, blockchain-based sol to USD trading activity on Solana has overtaken the spot trading volumes of major centralized platforms for an extended period. This milestone underscores Solana’s growing role as a critical liquidity hub in the cryptocurrency ecosystem.

On-Chain Activity Surpasses Traditional Trading Venues

Over the past three months spanning September through November 2025, on-chain sol to USD transactions have consistently exceeded spot trading activity on established exchanges. The latest metrics show that decentralized trading now accounts for over 60% of total SOL transaction volume, a dramatic increase that reflects changing market dynamics. This trend demonstrates that more traders are choosing to execute transactions directly on the blockchain rather than relying solely on centralized platforms.

What’s Driving Solana’s Trading Volume Surge

The rise in on-chain sol to USD trading reflects broader confidence in Solana’s infrastructure and transaction efficiency. As a blockchain designed for speed and scalability, Solana has positioned itself as an attractive venue for traders seeking direct market access. The 24-hour trading activity surrounding SOL consistently reaches significant levels—with recent data showing daily volumes in the $80+ million range—signaling robust market interest.

Solana’s Emerging Role as a Liquidity Layer

This shift highlights Solana’s transition from primarily a token to a comprehensive trading platform. The increase in on-chain sol to USD trading volume represents more than just transaction statistics; it reflects the blockchain’s ability to serve as a genuine alternatives to traditional exchanges. With over 60% of activity now occurring on-chain, Solana has effectively become a key player in the broader cryptocurrency market infrastructure, offering traders direct access and enhanced security.

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