Markets
Consumer
Chain Clusters
About this Chart
Pair Categories We define a set of trading pair categories below. The classification of pair categories is determined in a top-to-bottom manner.
-SOL-Stablecoin: the trade involves SOL and a stablecoin. -Bitcoin: the trade involves a Bitcoin-pegged asset. Some notable trading pairs are BTC-ETH, BTC-USD, and BTC-BTC (for example, cbBTC-WBTC). -Stablecoin Swaps: the trade has both the bought token and sold token as stablecoins. -LST Swaps: the trade involves a Liquid Staking token. -Tokenized Assets: the trade involves a tokenized asset. Examples include Gold, Equities, and Treasuries. -Indexed Assets: the trade involves an indexed asset. Examples include leveraged crypto tokens, portfolio of crypto tokens, and LP tokens. -Project Tokens: the trade involves tokens that are issued by projects. An example would be governance tokens and L1 tokens (not including BTC or ETH). -AI Agents: the trade involves an AI agent token. -Memes: The remaining volume from known memecoins as well as unclassified tokens.
DEXs The exchange that the trade takes place on.
Trade Source Indicates where the trade was sourced from. We define five major categories:
- Direct: Trade is traded directly with the exchange
- DEX Aggregator: Trade is routed through an aggregator first
- Trading Platform: Trade takes place on a trading platform such as Photon, Phantom, Axiom, etc.
- MEV Bot: Trade is from an identified MEV bot program on Solana.
- Other: Programs that are unidentified. Most likely an MEV bot.
There are some instances where a trade can be from a trading platform and routed thru an aggregator. To avoid double-counting this volume, we prioritize Trading Platforms in this case. As a result, the total DEX aggregator volume in this chart may slightly differ from other charts.