- BNB Chain’s DEX trading volume hit a record $1.64B, surpassing Solana for the first time.
- Solana’s trading volume dropped 28% as scandals and declining confidence hit the network.
- Memecoin activity fueled BNB Chain’s rise, while Solana’s top tokens saw major losses.
The cryptocurrency market recently witnessed BNB Chain surpass Solana by achieving the top position in daily decentralized exchange (DEX) trading volume. BNB Chain recorded its highest-ever trading volume at $1.64 billion on March 16, 2025, strengthening its position against Solana in the competitive market. The increasing demand for meme coins and their popularization has led to this trading surge.
BNB Chain’s Rise Fueled by Memecoin Surge
The BNB Chain trading volume experienced a surge due to two meme coins – Mubarak (MUBARAK) and TaTaTu (TTU), which gained popularity recently. The trading activity on these tokens has shown a 13% increase in the last week. BNB Chain stands out as a preferred platform for decentralized trading because it comes with a secure Binance ecosystem and reduced fees while growing both developer and trader communities.
The opposite trend emerges because the BNB Chain grows while major blockchain networks experience declining activity. Solana’s trading activity decreased by 28% followed by Ethereum which lost 12% and Base dropped by 35% during this period. BNB Chain now leads above Solana in the DEX space despite Solana once taking the top position as the leading decentralized exchange network.
Solana Faces Challenges Amid Scandals and Declining Confidence
Shifts in trading volume occur when Solana maintains difficulties with its memecoin ecosystem. The LIBRA scandal exposed corruption through Argentina’s presidential office leading to a major decline in network confidence within the industry. Trading activity on Solana’s platform has declined because of the combination of security-related controversies alongside scam-related and insider trading worries.
Pump.fun which operates as Solana’s main memecoin development application registered its least active day of trading since October last year. The official meme coins released by Donald Trump alongside other prominent Solana tokens have experienced a decline of more than 80% since attaining their all-time high values. BNB Chain attracts more traders due to declining trading activities on Binance Smarts Chain hence contributing to its increased daily trading volumes.
Solana continues to be an essential member of the wider cryptocurrency landscape despite facing its current challenges. Network users have always appreciated the fast transaction processing capabilities along with the minimal fees. Recent DeFi sector disruptions have opened an opportunity for BNB Chain to capitalize on this space.
Will Solana Regain Its Position?
The escalating rivalry between BNB Chain and Solana creates a challenging path toward the future. Since it has demonstrated robust historical performance and excelled in both speed and scale, Solana may find it possible to recover its dominance in the decentralized exchange markets. The present data demonstrates that BNB Chain leads Solana in daily trading volume due to its advantages of lower fees with an active developer base along with an expanding memecoin trader market.
