- Solana DEX volume surpassed $1.4 trillion in July, driven by rising user activity and institutional interest, including a new SOL ETF.
- With strong network fundamentals and growing support, SOL is approaching the key $200 price level.
Solana is once again making waves in the decentralized finance (DeFi) space. With its DEX (decentralized exchange) volume surpassing $1.4 trillion in July 2025, the blockchain has hit a new milestone, reinforcing its growing dominance. The network is also showing impressive daily user activity and institutional support, all pointing toward a possible SOL price push to the $200 level.
Solana DEX Volume Hits Record High
Solana’s decentralized exchanges, including Raydium, Orca, and Meteora, recorded massive activity in July, combining for over $1.4 trillion in volume. Raydium alone contributed more than $1.2 billion in a 24-hour period, according to data from DeFiLlama. Monthly volume on the network exceeded $69 billion, placing Solana ahead of many competitors in terms of user engagement.
This surge highlights not only increased trader interest but also the rise of new decentralized apps focused on trading, staking, and yield farming. The expanding ecosystem has drawn both individual and institutional participants, fueling further activity on the chain.
Institutional Support Strengthens Bullish Outlook
Solana’s rise isn’t just retail-driven. Institutional interest is deepening thanks to two major developments: a partnership with enterprise blockchain firm R3 and the launch of the Rex Shares SOL staking ETF. The R3 deal aims to bring tokenized real-world assets onto Solana, tapping into a larger financial trend toward blockchain-based assets.
Meanwhile, the new SOL ETF recorded a $42 million net asset value just days after its launch—outperforming XRP’s futures ETF debut. Market confidence is also reflected in prediction markets, where the probability of a spot SOL ETF approval by the end of 2025 stands at 99%.
SOL Price Hovers Near $189 With Eyes on $200
SOL continues to hold strong, currently trading at $189 with a market cap of $101 billion. Although still below its previous all-time highs, trading volume remains solid at $4.9 billion. The network processes over 125 million transactions daily and maintains more than 5 million active addresses, indicating strong network health.
With rising DEX activity, increasing institutional involvement, and growing ETF interest, Solana appears well-positioned for further growth. While long-term price targets remain ambitious, the immediate focus is whether SOL can break above the $200 level. Regardless of timing, Solana’s solid fundamentals point to continued expansion within the DeFi space.
ALSO READ:Why Solana Could Hit $500 in 5 Years as Revenue Surges
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