Solana's On-Chain DEXs Outpaced Bybit in Daily Spot Volume for Eight Straight Days

Solana's decentralized exchanges logged $1.52 billion in daily spot volume on July 10, outpacing Bybit's $1.36 billion for an eighth consecutive day, according to DeFiLlama chain volume data published by @minnus on July 11. The streak puts Solana's on-chain spot throughput above one of the two largest centralized exchanges by spot trading volume for more than a week straight.

Solana Ranked Second Globally in Spot Volume, Behind Only Binance

By DeFiLlama's chain-level comparison, Solana ranked second globally in daily spot trading behind only Binance across the streak's eight days. The dataset places on-chain output alongside global exchange tallies on the same daily basis, one of the few sources that makes this cross-market comparison tractable.

The comparison is specifically for spot volume, excluding Solana perpetuals activity and covering the same product category Bybit reports in its own spot tally.

Jupiter and Raydium Anchor the On-Chain Volume

Daily volume flows through a distributed set of protocols. Jupiter JUP$0.289-7.8% handles the largest aggregated share of Solana spot trades, routing orders across liquidity pools including those on Raydium RAY$1.79-3.9% and Meteora. Multiple trading categories compose the run: tokenized equity activity that accelerated through the second quarter, active retail DEX usage, and bot-driven arbitrage, all within DeFiLlama's spot methodology.

Birdeye's H1 2026 report documented the broader trend in late June: Solana capturing 54% of global spot DEX market share at roughly $425 billion monthly. The Bybit comparison tracks a different measure: absolute daily volume held above a major CEX for an extended stretch.

Samani's quote-tweet of the @minnus data was brief and pointed. buffalu, co-founder and CEO of Jito Labs, cited the same data with a longer view: "solana will be the largest exchange in the world."

How DeFiLlama Filters Bot Volume in the Solana vs. Bybit Count

On-chain volume carries a known caveat: bots and MEV searchers account for a material portion of Solana DEX activity. @minnus acknowledged in replies that DeFiLlama's methodology already filters a significant portion of such volume. Across the eight days, including typically lower-activity weekends, Solana's daily on-chain spot figure held above Bybit's reported figure by the same methodology.

@tokens noted on July 12 that Solana "leads all chains in 24h spot dex volume," independently confirming the streak extended into July 11.