Solana's 2025 on-chain spot volume reaches $1.6T, surpassing major centralized exchanges
In 2025, Solana's on-chain spot trading volume climbed to $1.6 trillion, putting it ahead of large centralized exchanges such as Coinbase, Bybit and Bitget while remaining behind Binance. Alongside this shift, stablecoin liquidity has increasingly migrated from Ethereum and Tron toward faster, low-cost networks, and SOL's price has reclaimed the $130 level with indicators suggesting strong upside momentum.