Solana DEXs log 208M weekly trades topping NYSE on trade count
By Crypto Wire
September 23, 2026
Solana decentralized exchanges processed about 208 million spot trades in the week of September 14–20, topping the New York Stock Exchange’s roughly 189 million trades over the same stretch—the first reported week a blockchain network exceeded a major U.S. equity exchange on raw trade count, according to flipthe.market (built on Blockworks Research data) as wrapped by Solana Compass on September 21 and still circulating in September 22–23 desk coverage.
Tracker maintainer Vibhu Norby framed the print bluntly: Solana 208 million, NYSE 189 million, calling it the first time a blockchain surpassed NYSE in weekly trades. NASDAQ still led at roughly 313 million trades in the same window—about 53% of that pace for Solana—so the milestone is a waypoint, not a claim that Solana replaced U.S. equity market structure.
What the comparison measures matters more than the headline. On flipthe.market, a Solana “trade” is a completed swap on a fee-paying spot DEX pool; an NYSE “trade” is an executed equity order in the regular 9:30 a.m.–4:00 p.m. ET session. Assets, settlement, and participant bases differ. Notional dollars per trade skew far higher on NYSE, where a single block can be millions, versus typical Solana memecoin or stablecoin swaps measured in dollars or cents. The figure is raw execution events per week—not dollar volume leadership.
Drivers stacked in the Solana Compass cut: memecoin and small-cap launches led the count, with Pump.fun alone near 118 million trades (~57% of the total); Raydium and Jupiter added long-tail and routing volume; tokenized equity swaps contributed a newer layer after September 12 prints where Solana tokenized stocks briefly exceeded combined NYSE+NASDAQ dollar volume with Raydium routing more than 90% of that settlement; stablecoin pairs and DeFi routing filled the rest. Weekly Solana DEX notional volume near $17.3 billion and DeFi TVL roughly $5.72–$6.2 billion through September sit as backdrop, not as proof that trade count equals equity-market depth.
Twenty-four-seven clearing is the structural edge. NYSE runs roughly 250 sessions a year in a 6.5-hour window; Solana never closes. Compass noted that in September 13 tokenized-equity data, about 63% of cumulative Solana tokenized-equity trades settled outside U.S. cash-market hours—volume with no NYSE equivalent. Daily Solana DEX trade counts across Sep 14–20 ranged about 14.7 million to 43.3 million, totaling near 209 million in the week that first cleared NYSE’s 189 million.
Why Marketplace Watch (and NFT desks) care: Magic Eden, Tensor, and Solana NFT secondary still settle inside the same fee-cheap execution environment that just printed more swap events than NYSE. High trade counts can mean deep NFT liquidity—or bot-heavy memecoin churn. Keep secondary NFT sales dollars separate from DEX trade counts. A prior 8bitcrypto Solana DEX dollar-volume reclaim file is a different instrument than this trade-count-versus-NYSE milestone; do not merge them into one “Solana beat Wall Street” claim.
What to cite cleanly: week of September 14–20; Solana DEX trades ~208 million; NYSE ~189 million; NASDAQ ~313 million; flipthe.market / Blockworks Research via Solana Compass; Pump.fun ~118 million / ~57%; weekly DEX notional ~$17.3 billion; after-hours tokenized-equity share ~63% in the cited September 13 cut; first confirmed crossing of NYSE on trade count. What not to invent: that Solana exceeded NYSE in dollar volume this week, that NASDAQ has been passed, or that NFT floors automatically reprice when swap counts spike.
Collector reading tip: watch whether the next flipthe.market weeks hold above NYSE or snap back, whether Jupiter/Raydium routing share stays elevated, and whether tokenized-equity after-hours flow keeps adding countable swaps. For Orange County readers, treat 208 million versus 189 million as infrastructure scale for Solana markets—including NFT and phygital settlement rails—not as a substitute for CryptoSlam sales prints.
Bottom line: In the week of September 14–20, Solana DEXs logged about 208 million spot trades against NYSE’s roughly 189 million—a first-crossing Marketplace Watch milestone on trade count, not dollar volume, with NASDAQ still ahead near 313 million.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
