Solana news: Solana Prop AMM Volume Share Falls Below 50% for First Time Since November 2025
Solana Prop AMM Volume Share Declines
Solana's proprietary automated market makers (prop AMMs), known for efficient onchain trade execution, have seen their volume share fall below 50% for the first time since November 2025. Recent data indicates that passive AMMs and central limit order books (CLOBs) are now processing more trading volume than prop AMMs on the Solana network.
Changing DeFi Market Structure
Prop AMMs have played a significant role in shaping Solana's DeFi landscape, often providing better prices than centralised exchanges for retail traders. However, Blockworks data shows that prop AMM weekly volume share has dropped to 47%, signalling a shift in user preferences and trading activity.
While BisonFi continues to lead in SOL-stablecoin pairs, there is growing activity in long-tail assets and memecoins. Platforms such as Pump and Meteora are increasing their market share, with Pump now accounting for 17% of all spot volume, overtaking BisonFi in weekly volume.
Market Data and Interpretation
Some ecosystem analysts caution that the data may not fully reflect the true influence of prop AMMs. Max Resnick, an economist at Anza, suggests that market participants might be manipulating metrics to understate prop AMM significance.
GoonFi's Rise and Social Media Presence
GoonFi has emerged as a notable player among prop AMMs, particularly in intra-stablecoin swaps, where it now commands 34% of the market. After operating in stealth since June 2025, GoonFi has launched an official social media presence, possibly signalling increased engagement with the broader DeFi community.
Ethereum DeFi Challenges Solana
Ethereum's DeFi sector has recently surpassed Solana in both 24-hour and 30-day spot DEX volume, according to DefiLlama. If this trend continues, Ethereum could overtake Solana in monthly volume for the first time since August 2025.
Why This Matters for the UK
The evolving dynamics between prop AMMs, passive AMMs, and CLOBs on Solana are relevant for UK DeFi users and developers. As the UK continues to explore digital asset regulation and innovation, understanding these shifts can inform local builders and investors about emerging opportunities and risks in the Solana ecosystem.
