Solana surpasses Coinbase and Kraken in daily and weekly spot volume
The post says Solana now trails only Binance and Bybit as it competes with tier-one centralized exchanges on spot trading activity.
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Fact Check
The original SolanaFloor post and U.Today both report Solana's weekly spot trading volume (~$7.1-7.2B) exceeded Coinbase (~$6-6.4B) and Kraken (~$4-4.4B), ranking third behind Binance and Bybit, matching the claim exactly. Multiple independent secondary sources repeat the same ranking and figures. The main caveat is methodological: the comparison places Solana's on-chain/DEX spot volume against centralized exchange spot volume, and the underlying SolanaFloor data is self-reported, so it is not independently audited. Still, the claim as stated is well-corroborated across sources.
Summary
Solana has overtaken Coinbase and Kraken in both daily and weekly spot volume, according to the post, marking another sign that on-chain trading activity is competing more directly with major centralized exchanges. The ranking leaves Solana behind only Binance and Bybit on the cited measure. Spot volume refers to direct buying and selling of assets for immediate settlement, making it a closely watched gauge of trading demand and market share.
Terms & Concepts
- Solana: A blockchain network used for trading and decentralized applications.
- spot volume: Trading activity in assets bought and sold for immediate settlement.
- centralized exchanges: Crypto trading platforms run by companies that custody and match user trades.