Solana DEX Weekly Transactions Surpass NYSE, Analysts Caution on Comparison

Solana's decentralized exchange (DEX) weekly transaction volume has surpassed 280 million transactions, exceeding the New York Stock Exchange (NYSE), according to a recent analysis. However, this comparison is based solely on transaction counts, not trade values or market scale, which does not necessarily mean traditional exchanges have been overtaken.

Crypto Briefing reported that Solana DEX weekly transactions exceeded 280 million, reaching approximately 88% of Nasdaq's weekly volume. The report noted that NYSE and Nasdaq use separate official metrics for comparison, with no standardized benchmark provided. It clarified that the metric reflects transaction frequency, not trade value or market size.

Solana DEX transactions include small swaps, meme coin trades, and automated bot activity, each counted as a single transaction. In contrast, traditional exchanges often consolidate large institutional orders into one transaction, making direct comparisons misleading. Solana's high transaction volume is attributed to low fees and fast confirmation times, with blockchain trading operating 24/7 unlike centralized exchanges.

Solana Foundation reported in its August ecosystem report that the network processed over 216 million non-voting transactions daily. For the week of August 17–23, total network transactions reached 1.32 billion, but this includes all network activity, not just DEX transactions.

Tokenized stock trading has also contributed to Solana's activity. Crypto Briefing noted that tokenized stock trade volume exceeded $200 million on September 12 and supply size hit a record $684 million on September 13. These figures measure asset value, not transaction count, so they cannot be directly compared with DEX transaction numbers.

Tokenized stock trading operates 24/7 on Solana, with Crypto Briefing reporting that 63% of such trades occurred outside regular U.S. market hours, though the methodology for this percentage was not disclosed. Traditional exchanges operate within set trading hours and holidays, while blockchain transactions continue as long as the network is active.

Analysts caution that transaction count alone does not reflect economic demand. Bitquery analyzed Solana tokenized stock trades from June 29 to July 28, 2026, identifying 1.785 million transactions across 26,211 wallets. The firm noted that large-scale automated trading could inflate transaction counts without reflecting real market demand or user activity.