Solana’s trading is shifting to decentralized exchanges, with liquidations on these platforms surpassing those of centralized markets. The recent rise in activity highlights growing on-chain demand for Solana’s SOL token.
During the latest market downturn, Solana experienced over 94 million USD in liquidations on decentralized platforms. Jupiter DEX led in this activity, establishing its dominance among Solana’s trading venues.
The introduction of Stabble, a new DEX for perpetual swaps, has fueled SOL’s trading volume. This surge in activity occurred as SOL faced pressure, dropping below 130 USD amidst volatile market conditions.
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