Solana Surpasses Major Centralized Exchanges with $1.6 Trillion Spot Volume

Solana [SOL] has recently reported achieving the second-highest spot trading volume in 2025, trailing only behind Binance [BNB]. With its ongoing advancements, liquidity and stablecoin availability are shifting towards more efficient blockchain networks. This article explores the implications of this shift in the cryptocurrency trading landscape.

Key Takeaways

Solana recorded a staggering $1.6 trillion in spot trading volume, ranking second only to Binance in 2025.
There is a noticeable transition of liquidity towards quicker and more cost-effective blockchain networks.
Solana’s stablecoin supply has significantly increased, positioning it as a key player in the market.
The recent surge in SOL prices may point towards ongoing bullish momentum.

Is Crypto Trading Undergoing a Transformation?

Solana Source: X

The evolution within the crypto trading sphere has been gradual, characterized by a movement of liquidity towards networks that offer faster and cheaper transactions. A critical question arises: If Solana [SOL] outpaces popular platforms like Coinbase, Bybit, and Bitget, where does the true market activity reside? Even the significant hold Binance has on the market is beginning to wane, indicating a more fragmented market structure.

The Relationship Between Liquidity and Speed

While Ethereum [ETH] still commands the largest share of stablecoin supply, there has been a marked shift in stablecoin distribution since early 2024. Solana's previously minor stablecoin supply has surged in tandem with its increasing on-chain trading volumes. Additionally, Tron [TRX] is recognized as a substantial hub for stablecoins; however, emerging networks are rapidly closing the gap.

Stablecoin Supply Chart Source: Artemis

Stablecoins serve as the engine for spot trading, and as more capital flows into networks like Solana, a beneficial cycle emerges: liquidity attracts trading volume, which in turn helps maintain liquidity.

Price Movements on the Rise

After several weeks of price stabilization, SOL has successfully breached the $130 mark, recovering losses experienced during the end-of-year downturn. This upward movement signals that many long-term investment opportunities may soon present themselves.

Price Chart Source: TradingView

The Relative Strength Index (RSI) is hovering around 58, indicating further potential for upward movement. Notably, SOL's price has exceeded the 20-day moving average and is nearing the midpoint of the Bollinger Bands. Moreover, the Moving Average Convergence Divergence (MACD) indicator has turned positive. Together, these indicators reveal strong bullish momentum, suggesting a favorable setup for continued growth.

Final Thoughts

As Solana continues to gain traction in volume and stablecoin supply, its emergence as a powerhouse in the crypto trading space appears undeniable. Investors and traders alike should keep a close eye on these developments as they unfold.