By 2025, Solana's on-chain spot trading volume will reach $1.6 trillion, surpassing all CEXs except Binance

The Kobeissi Letter posted on the X platform, stating that in 2025, the spot trading volume on the Solana chain officially reached $1.6 trillion, surpassing all centralized exchanges except Binance.

According to data from JupiterExchange, since 2022, the proportion of trading volume on the Solana chain has grown from 1% to 12% of the total trading volume. In 2025, Solana's total trading volume officially exceeded that of Bybit, Coinbase Global, and Bitget. Meanwhile, Binance's market share has decreased from 80% to 55% since 2022. Cryptocurrency activity is rapidly shifting on-chain.