
Syndica ☀️
@Syndica_io
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News & research from Syndica: low latency Solana RPC, data streams, Sig Validator & more
Joined September 2021
@solana @MemeStrategy_ @okx @pumpdotfun @RaydiumProtocol @JupiterExchange @DFlowProtocol @FDLabsHQ @KaminoFinance @binance @Bybit_Official @byreal_io @ranger_finance @hylo_so @asgardfi @jup_studio 16/ Subscribe to our email newsletter here to receive our reports in your inbox:
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Deep Dive: Solana DeFi - June 2025
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@solana @MemeStrategy_ @okx @pumpdotfun @RaydiumProtocol @JupiterExchange @DFlowProtocol @FDLabsHQ @KaminoFinance @binance @Bybit_Official 15/ Our projects to watch include @byreal_io, @ranger_finance, @hylo_so, @asgardfi, and @jup_studio.
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@solana @MemeStrategy_ @okx @pumpdotfun @RaydiumProtocol @JupiterExchange @DFlowProtocol @FDLabsHQ @KaminoFinance 14/ CEX LSTs grow aggressively, spearheaded by @Binance's $bnSOL and @Bybit_Official's $bbSOL. Larger entities are increasingly viewing @Solana as a credible settlement layer.
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@solana @MemeStrategy_ @okx @pumpdotfun @RaydiumProtocol @JupiterExchange @DFlowProtocol @FDLabsHQ @KaminoFinance 13/ @Solana liquid staking TVL hit 51.7M SOL in June (13% of staked SOL), the 4th straight record month. This trend reflects stakers' growing preference for flexibility and capital efficiency.
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@solana @MemeStrategy_ @okx @pumpdotfun @RaydiumProtocol @JupiterExchange @DFlowProtocol @FDLabsHQ 12/ @KaminoFinance TVL stabilized at 13.5M SOL after TVL jumped 50% in Q1, driven by the $TRUMP launch. Its recent V2 launch expanded Kamino's lending market offerings.
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@solana @MemeStrategy_ @okx @pumpdotfun @RaydiumProtocol @JupiterExchange @DFlowProtocol 11/ $FDUSD is now the third-largest stablecoin on @Solana. The 1:1 USD-backed token from Hong Kong’s @FDLabsHQ 3x-ed its supply in June, reaching $300M. Its success on Solana suggests users are open to stablecoin options beyond $USDC and $USDT.
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@solana @MemeStrategy_ @okx @pumpdotfun @RaydiumProtocol @JupiterExchange @DFlowProtocol 10/ @Solana's stablecoin momentum cooled following the Q1 2025 run-up. Stablecoin supply pulled back 18.5% from earlier highs, settling at $11B. $USDC gave back a chunk of the inflows that accompanied the $TRUMP memecoin trade as its price momentum faded.
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@solana @MemeStrategy_ @okx @pumpdotfun @RaydiumProtocol 9/ @Solana’s DEX aggregator competition is fiercer than ever. While @JupiterExchange leads with 81% market share, @OKX and @DFlowProtocol are rapidly closing the gap, achieving new monthly highs of 14% and 5% in June.
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@solana @MemeStrategy_ @okx @pumpdotfun @RaydiumProtocol 8/ Private AMMs are reshaping @Solana's DEX ecosystem, handling 20%+ of all volume. Traders favor aggregators, and private AMMs win that flow with cheaper trades, especially on short-tail assets.
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@solana @MemeStrategy_ @okx @pumpdotfun 7/ June saw the lowest DEX volumes on @Solana YTD. Monthly trading volume settled at $80B, led by @RaydiumProtocol with a commanding $23B.
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@solana @MemeStrategy_ @okx 6/ The memecoin launchpad landscape is quickly evolving. @Pumpdotfun’s dominance is challenged; its share of daily token launches fell below 50% for the first time, as new competitors swiftly enter the market.
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@solana @MemeStrategy_ @okx 5/ Memecoin launches on @Solana show no signs of slowing down. Since April 2024, they made up more than half of new tokens monthly.
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@solana @MemeStrategy_ 4/ @Solana is rapidly becoming Bitcoin's home. The amount of $BTC on Solana reached an ATH of 7.1k $BTC in June, consistently rising since 2023. New high-quality wrapped $BTC continued to flow in, with @OKX launching $xBTC last month, quickly attracting 135 $BTC.
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@solana 3/ Public companies continued their strategic accumulation of SOL. They now cumulatively hold 1.85M $SOL or 0.35% of $SOL supply. Classover and @MemeStrategy_ joined the trend, initiating their $SOL treasury holdings.
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2/ @Solana DEXes surpassed a cumulative $1T in volume in the first half of 2025. H1 2025 DEX volume on Solana exceeded the total volume from the previous two half-years combined.
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1/ DeFi on @Solana isn’t slowing down. From LST adoption to perps, borrow/lend to stablecoins—every vertical is showing strength. Let’s break down what happened in June 🧵👇
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@solanalabs @solana @pumpdotfun 20/ Subscribe to our email newsletter here to receive our reports in your inbox:
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Deep Dive: Solana Onchain Activity - June 2025
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@solanalabs @solana 19/ Invoke frequency remained stable YoY. Aside from SPL token program and @pumpdotfun upticks, invoke frequency stayed consistent across sectors and programs.
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@solanalabs @solana 18/ CU spending shifted slightly YoY. Traditional sectors lost share: NFTs (3%→0.5%), oracles (5%→3%), gaming (2%→1%). Bots surged (2%→8%) led by arbitrage/MEV bots.
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@solanalabs @solana 17/ Program activity has soared since 2022:. - Monthly deployments: 500→2,000 (4x). - Upgrades: 2,400→7,100 (3x).
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