Solana Tops Amid TVL Decrease

In the week ending November 16, 2025, the total value locked across decentralized exchanges significantly decreased to $952.29 billion, with Solana leading in trading volume among major blockchains.

This sharp decrease in value highlights potential liquidity concerns, affecting major chains and altering the landscape in DeFi trading activities.

Solana Leads DEX Volume as TVL Shrinks 21.6%

The past week saw a notable decline in the total value locked across decentralized exchanges, dropping to $952.29 billion. This marks a 21.6% reduction from the prior week’s $1,215.32 billion and a more significant 44.3% decline from this year’s peak of $1,711.04 billion. Solana emerged as the leader in DEX trading volumes, surpassing both BNB Chain and Ethereum.

These changes have led to significant shifts in trading preferences, with Solana processing $238.15 billion in trading volume, thereby securing the top position. BNB Chain followed with $225.61 billion, while Ethereum recorded $168.29 billion. This altered landscape has influenced market dynamics, with liquidity and on-chain activities reflecting the overall downtrend.

“Active monitoring of liquidity risks and deploying new risk management strategies.” — Developer Commentary in Community Forums

Historical Shifts in DEX Leadership and Solana’s Price Dynamics

Did you know? The recent shift towards Solana as the leader in DEX trading volume mirrors previous periods of drastic market change, like the surge in Solana’s NFT activity in 2021.

As per CoinMarketCap data, Solana’s current price stands at $135.71, with a market cap of $75.21 billion and a 2.36% dominance. Over recent days, Solana saw notable declines: 4.90% in 24 hours, 16.54% in the week, and 25.9% over the past month. Despite these price adjustments, Solana remains a significant player, influenced by shifting DEX volumes.

The Coincu research team suggests that the decrease in value locked across DEXs could lead to new regulatory conversations. Solana’s emerging dominance might catalyze innovations and adjustments in protocol offerings, focusing on enhanced trading efficiencies and investment opportunities, despite market volatility.