Solana network rebounds with record $35.6 billion DEX volume and 58% TVL surge

Solana’s decentralized finance ecosystem is showing renewed strength after a prolonged slowdown, riding the momentum of the broader crypto market rally.

Over the past week, the weekly decentralized exchange (DEX) volumes on Solana climbed to $35.6 billion, marking the highest level in over two months. This growth helped push protocol revenue to $25.9 million, according to data from Blockworks Research.

Solana DEX Volume (Source: Blockworks Research)

During the period, the network maintained an average throughput of around 1,190 transactions per second (TPS). At the same time, Solana’s share of the SOL-USD trading market rose from 27% to 38%, indicating growing demand for its native asset.

Solana Blockchain Network’s Average TPS (Source: Blockworks Research)

The total value locked (TVL) on Solana has also climbed sharply over the last 30 days. DeFiLlama data shows the network’s TVL rose 58% from a low of $13.9 billion to $22.1 billion.

Although still below the January peak of more than $26 billion, the growth points to a strong recovery in user and developer engagement across the ecosystem.

Solana DeFi TVL (Source: DeFiLlama)

Meanwhile, part of the TVL increase stems from the rising value of SOL, which appreciated 40% over the same 30-day window to hit $178, its highest price since March.

Solana Price Performance (Source: TradingView)

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