Dark Pool HumidiFi Leads Solana DEX with $8.55B Weekly Volume
HumidiFi has ascended to the top of Solana’s decentralized exchange rankings with an impressive $8.55 billion in trading volume over the past week. On September 25, HumidiFi processed a record $1.92 billion in trades, accounting for over one-third of Solana’s total daily volume. Currently, it maintains a 24-hour trading volume of $557 million, trailing only Meteora's $700 million.
The Rise of Dark Pools on Solana
- Dark pools like HumidiFi use proprietary automated market makers (prop AMMs) to quote prices privately and route trades through aggregators, reducing slippage.
- This attracts large traders who want privacy and cost-efficient swaps, sometimes achieving negative spreads.
- HumidiFi, despite lacking public front-end hype, draws significant flow from professional market participants due to deep liquidity and private routing.
Competition Remains Fierce
- Raydium remains a leader with robust liquidity and community incentives.
- Meteora holds strong market share through integrations and partnerships.
- PumpSwap caters to retail traders looking for quick Solana meme coin opportunities.
The broader decentralized space is growing, with decentralized-to-centralized exchange trading volumes holding an 18.5% share. On Solana, weekly decentralized trading increased by 6%, reaching $2.7 billion as of September 29.