What happens outside of price struggles

So far, Solana’s average monthly trading volume has risen dramatically, reflecting the ongoing trader interest and liquidity spin towards the network despite greater market volatility.

According to the latest report from Coingecko, Solana’s average monthly transaction volume increased to $156 billion in 2025, up from $124.4 billion in 2024, a year-on-year increase of 25.4%.

By comparison, Ethereum’s average monthly transaction volume increased by 9.7% during the same period, from $603 billion in 2024 to $661.8 billion in 2025. Although nominal value still supports nominal value for Ethereum, data from Solana has surpassed Ethereum’s trading volume growth so far this year suggests.

Meme Coin Fuel Record Trading Volume

Coingecko said the measure that emphasizes this trend is the Sol/ETH trading volume ratio, which averaged 0.236 in 2025, up from 0.206 in 2024. This means 14.3%. The rate reached 0.298 in January 2025 due to the surge in meme coin activity on Solana’s network.

The network recorded $239.4 billion in transactions in the month, which was driven by the increase in tokens such as Trump and Melania that attracted retail interest and stimulated trade that scattered exchange activities.

After the January spike, Solana’s trading volume was cooled as Meme Coin Momentum slowed down. Nevertheless, the SOL/ETH ratio is still very high compared to the previous year, with its status of 0.219 by June 2025. This basically shows that despite speculative trading eased, Solana maintained a higher share of overall crypto trading volume and was supported by consistent liquidity and active market participation.

Solana ignores bearish trends

Coingecko observed that the surge in Solana trading volume was even amid a challenging market backdrop, with both Solana and Ethereum losing double-digit losses in the first half of 2025.

The price of Sol fell by more than 19% from January to June, while ETH fell by 25% during the same period. However, the difference in volume growth suggests that even during market recessions, Solana’s high-speed, low-cost environment will attract traders.

Additionally, the Solana network continues to process more than $100 million in transactions per day and supports an average of 500,000 active wallets. Protocols such as Jupiter and Meteora appear to be driving user engagement and liquidity on the network. As of June 2025, Meteora alone exceeded its total value of US$750 million.