Spot DEX memecoin trading on Solana accounted for 67 percent of all tracked chain volume on September 7, roughly three times the 23 percent captured by Robinhood Crypto, per Blockworks data. Solana has held a majority share of this segment since mid-June, with its real-world asset ecosystem also crossing $4.35 billion in total value.
Solana captured 67 percent of memecoin spot DEX trading volume on September 7, nearly triple Robinhood Crypto's 23 percent share, according to Blockworks data reported by SolanaFloor.
The daily volume split shows Solana holding the large majority of activity since mid-June, with its share staying above 50 percent for most of the period, the data shows. Robinhood's portion climbed into the low-to-mid 20s in recent weeks, while BNB Chain accounted for about 9 percent and smaller networks such as HyperCore and Ethereum each contributed 1 percent or less on the latest day.
The figures extend a pattern established well before this year. Platforms such as Pump.fun were generating more daily volume than most Layer 2 networks combined as early as the first quarter of 2024, according to Blockworks. The current 67 percent share across all chains represents the maintenance of an established ceiling rather than a sudden breakout into new territory.
The concentration of memecoin flow on Solana carries direct revenue implications for DEX protocols on the network and points to continued user migration toward on-chain venues. Solana's real-world asset ecosystem crossed $4.35 billion in total value, a new all-time high, with RWA holders surpassing 420,000. The network also led all chains in x402 activity for a second straight week, with weekly volume reaching about $14 million by September 7, according to Artemis data.
Solana's August close marked its first green monthly candle in 10 months, with the monthly MACD approaching a bullish crossover and the monthly RSI breaking a downtrend that held for nearly two years. The network's price remains well below previous highs, but on-chain activity metrics suggest sustained demand across the ecosystem.
The widening gap between Solana DEX volume and centralized exchange memecoin volume reflects structural advantages in cost and settlement speed. Solana's low transaction fees and fast finality make it the preferred venue for high-frequency memecoin trading, a segment that has become one of the network's strongest sources of on-chain activity.
If the trend persists, it could keep transaction demand and liquidity elevated across Solana's DeFi ecosystem, benefiting protocols such as Raydium that capture DEX trading fees. For centralized platforms like Robinhood Crypto, the data points to continued competitive pressure in the memecoin segment, where traders increasingly bypass traditional intermediaries for direct on-chain execution.
This article is for informational purposes only and does not constitute investment advice.
