Solana has conquered 50% of the market share of the decentralized Exchange (DEX), driven by trading activities and low transaction costs, according to the OKX State or DEXS 2025 report.
“The DEX growth route that we have seen in the past year is something that I expect to stay in 2025. Solana (with 48% of the total DEX volume) and Solana Meme coins have stimulated a lot of this growth,” ” said Jason Lau, Chief Innovation Officer at OKX.
He pointed out the increasing mixing of guardianship and on-chain experiences as an important engine for a wider DEX adoption.
Solana’s Retail-first Focus distinguishes it, with low costs, fast transactions speeds and a robust ecosystem from platforms that attract everyday traders.
Jupiter, a DEX aggregator who is responsible for 70% of Solana’s transaction volume, and Raydium, a leading liquidity provider, have been crucial in feeding this growth.
Jason Lau noted that the dominance of Solana in Dex and Meme Coin Trading comes from his strong ecosystem of Token launch platforms and competitive Dex’s, with three of the top five on Solana.
However, he pointed out that Ethereum maintains a lead in the liquidity depth, with 10 of the top 20 global liquidity pool spots compared to Solana’s 1.
Lau added that as the market evolves, these various strengths will determine how trade use outings develop.
The report also deals with challenges and innovations within the DEX ecosystem.
Liquidity fragmentation remains an urgent issue, but platforms such as Polygon’s Agglayer and the DEX aggregator of OKX want to consolidate liquidity on chains.
Jason Lau explained that “aggregators such as Jupiter, who orders 70% of the aggregator volume on Solana, shows how efficient routing and well -considered design can effectively consolidate fragmented liquidity and stimulate the acceptance of users.”
Likewise, the OKX DEX -Aaggregator plays a crucial role in streamlining access to liquidity over more than 30 chains, which further tackles the fragmentation in the Defi Ecosystem, Lau added.
Efforts such as OP’s Superchain Ecosystem and Polygon’s Agglayer also improve the interoperability and fluidity of liquidity.
These developments indicate a shift to a more interconnected and advanced defi landscape.
The report also investigated the rise of new app-specific chains, where platforms such as hyperliquid and Dydx used these architectures to improve efficiency and speed.
At the same time, AI tools such as AIXBT and Elizaos are relocating the boundaries of liquidity management and trade automation, so that the ecosystem is further transformed.
Lau noted that AI in Defi, although still at an early stage, has the potential to offer advanced data analysis and to enable automated decision -making, which significantly improves efficiency in the ecosystem.
The OKX state of DEXS 2025 report also investigates the wider dynamics that the decentralized exchange ecosystem shall.
It emphasizes the continuous evolution of interoperability of the cross-chain, with innovations such as Layerzero’s LZRead that makes real-time cross-chain data queries possible without activating States changes.
The report emphasizes a geographical shift in developer activity, in which Asia now surpasses North -America as the leading region for blockchain innovation, which contributes 32% of the active developers.
Moreover, it underlines the transforming potential of AI in Defi, not only for liquidity management, but also for making completely new stimulation models via Tokenized AI protocols.
