Solana-Based Perp DEX Weekly Volume Tops $20 Billion for First Time
Summary
- Weekly volume on Solana-based decentralized perpetual futures exchanges surpassed $20 billion for the first time.
- As the on-chain derivatives market expands, GMTrade recorded about $4.9 billion in trading volume over the past 24 hours.
- The market is watching how the expansion of Solana-based DeFi and the derivatives ecosystem could reshape on-chain trading structures.
Forecast Trend Report by Period
Weekly trading volume on Solana-based decentralized perpetual futures exchanges reached a record, highlighting continued growth in the on-chain derivatives market.
Wu Blockchain, a crypto-focused media outlet, reported on May 19 that weekly volume on Solana-based perp DEXs surpassed $20 billion for the first time.
Daily trading volume climbed to about $5.781 billion as of May 18.
GMTrade drove much of the increase in activity. The platform recorded about $4.9 billion in trading volume over the past 24 hours.
Across the crypto market, demand for on-chain derivatives trading has been rising relative to centralized exchanges, supporting continued growth in decentralized exchanges.
Market participants are closely watching how the expansion of Solana-based DeFi and derivatives ecosystems may alter the structure of on-chain trading.
