Decentralized trading markets for Solana are rapidly evolving, with increasing swap volumes. Data shows decentralized platforms, such as Stabble, beginning to dominate over traditional centralized exchanges.
Activity on Solana DEX
Recently, decentralized trading platforms for Solana witnessed over $94M in swap liquidations, while centralized markets accounted for approximately $47M. Jupiter DEX was the largest contributor to long liquidations in the past 24 hours.
Impact of Stabble on the Market
With the launch of Stabble, a new DEX for swaps, market activity in Solana has sharply increased. It reported $3M in liquidity with over $1B in monthly trading volumes, making it the most active DEX among all Solana platforms.
Market and Long-Term Prospects for SOL
SOL continues to face pressure due to regular unlocks from Alameda Research. Expectations for further price drops are intensifying both spot and derivative activities. Despite fluctuations, long-term investments may become appealing considering the growth of decentralized swaps.
Decentralized markets in Solana exhibit significant growth, reflecting changing preferences among traders. This creates new opportunities for investment and trading amid volatility.
