• Solana has outperformed Ethereum and Base on DEX trading volume for the past two days. 
• Massive network traction could fuel SOL’s price to reverse December losses. 

Solana [SOL] has maintained its position as the premier chain for the speculative market, from meme coins to AI agents. On the 6th of January, its 24-hour Decentralized Exchange (DEX) volume topped Ethereum and Base combined. 

A similar trend was observed on the 7th of January. According to DeFiLlama data, Solana’s DEX volume was at $3.98B compared to Ethereum’s $1.7B and Base’s $1.2B.

In short, Solana eclipsed both chains by over $1B in DEX trading volume, underscoring massive network activity. 

Source: DeFiLlama 

Historically, a surge in DEX trading volumes has always positively correlated with SOL’s price action. In short, most of SOL’s price pumps can be preceded by explosive DEX trading volume, as high transactions on the chain attract significant demand for SOL.

A similar scenario was observed during the December market bottom. Solana’s DEX trading volume dropped to a low of $3.1 billion in December, down from $7.0 billion during the peak of the November rally.

Source: Artemis

The rebound in DEX volume from December into the new year lifted SOL from $175 to $220 and was accompanied by a significant surge in daily active users. In short, the growth in DEX activity could further extend SOL’s recovery.

Additionally, SOL’s price surpassed its March highs and broke above the trendline resistance that had capped uptrend momentum in November and December.

This indicates a bullish market structure that could fuel the altcoin’s continued recovery.

Read Solana [SOL] Price Prediction 2025-2026

Source: SOL/USDT, TradingView

A decisive move above $220 could embolden bulls to strive for $240 or $260 targets. But a drop below the previous trendline would invalidate the bullish outlook.