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Solana’s DEX wars are heating up — and the on-chain numbers are wild.
@RaydiumProtocol just did $9.7B in volume with 80M+ trades in 7 days.
But a meme DEX almost beat @Lifinity_io in volume...
Let’s break down what’s happening under the hood 👇
Before we proceed, huge thanks to my tutor @cryptall3 - for taking me through the journey of blockchain data analysis.
The ongoing Koinophobia class hosted by @TheNirvanAcad @SamuelXeus , have been an impactful one, I have been seeing things differently and a lot is about to be unfolded.
Lastly, I wouldn't have gotten the opportunity of being a part of the class if not for the support of my brother and idolo @PrudentSammy - I am forever grateful king🩷.
💥 Here's the Top 5 Solana DEXes by Trading Volume (last 7 days):
~ @RaydiumProtocol — $9.70B across 80.4M trades
~ Whirlpool — $4.55B across 10.5M trades
~ @MeteoraAG — $3.62B across 13.1M trades
~ @Lifinity_io — $1.39B across 3.5M trades
~ @pumpdotfun — $1.36B across 23.9M trades
🔍 So what does this tell us?
~ Raydium is clearly the giant — high volume and high user activity
~ Whirlpool pulled off $4.5B with just 10M trades — ultra capital-efficient
~ Pumpdotfun nearly matched Lifinity in volume... but did it with 7x more trades
💡 The insight isn’t just in volume — it’s in behavior.
` High trade count + low volume → retail users, smaller transactions
` Low trade count + high volume → whale flows, optimized routing
` Raydium? It's doing both — and that’s a hard combo to beat.
🤝Want to explore or build on this data?
I built a live dashboard on @Dune to track this week over week:
dune.com/ferrum01/top-5…
Follow for more real on-chain breakdowns — no fluff, just raw DeFi insight.

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