Solana is gradually emerging from the shadow of the memecoin mania. Amid the maturity of the DeFi sector and the expansion of the token ecosystem, the share of memecoins on the network’s decentralized exchanges has dropped nearly sevenfold—from 67% to 10%, according to Blockworks data.
Solana DeFi is maturing
Not long ago, critics called Solana a ‘chain for memecoins and hype.’ In 2024, tokens associated with Donald Trump, Melania, and Javier Milei were trending. But now the situation has changed.
According to the network, over $40 billion in spot trades passed through Solana during the week of October 6–12. Despite the decline in memecoin share, the overall DEX trading volume remains consistently high. This indicates that Solana is restructuring its economy toward more sustainable trading models.
The market is shifting focus toward SOL/stablecoin pairs
Today, 73% of trades on Solana DEX are in SOL/stablecoin pairs. The main share of this volume is taken by Prop AMMs—professional automated market makers that provide liquidity and tight spreads comparable to centralized exchanges.
According to Blockworks, Prop AMMs already control 59% of the weekly DEX volume, and their leader HumidFi has captured 34% of the market. The platform processes billions of dollars in daily volume and is rumored to be preparing to launch its own token.
Uniswap comes to Solana
Amid Solana’s rapid growth in DeFi, Ethereum giants are joining in. Uniswap, the largest ETH DEX and one of the founders of the AMM model, has officially added support for Solana and 35 other networks.
However, instead of natively deploying its protocol, the team chose a different path—Solana swaps now go through the Jupiter API. This solution reflects the trend toward blockchain interoperability and turns Jupiter into a central hub for cross-chain transactions.
What’s next?
Solana has left the era of speculation behind. Memecoins no longer define its dynamics, giving way to mature DeFi and institutional liquidity.
The Uniswap integration only confirms: Solana is not just maintaining its leadership in on-chain trading, but is also becoming a new infrastructure platform for global DeFi.
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