Memecoins Reclaim 29% of Spot Trading Volume on Solana DEX, the Highest Since August 2025
Memecoin activity on Solana surged to levels not seen since August of last year, reaching 29% of the network's spot DEX trading volume for the week of July 20-26, according to Blockworks data. This marks a significant jump from the 10-15% levels seen just weeks prior. The resurgence is largely attributed to the token $ANSEM ("The Black Bull"), which saw an 18,000% gain in three days after its June launch and peaked at a market cap near $449 million. This revival has brought new trading activity to platforms like Pump.fun.
However, the data also shows memecoins are not the dominant force on Solana. SOL-stablecoin pairs accounted for 37% of weekly volume, stablecoin swaps made up 22%, and other asset classes comprised the remainder. The network's growth extends beyond speculation: its stablecoin supply surpassed $15 billion in July and has remained resilient, with institutional players like Western Union and B2C2 utilizing the chain for settlements. Furthermore, Solana leads in tokenized real-world assets (RWAs), hosting over 2,500 such assets valued at more than $3.5 billion. While memecoin volumes are cyclical, the expansion in stablecoins and RWAs represents a more foundational growth for the Solana ecosystem.
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