Introduction

The Solana blockchain has emerged as a prominent platform, known for its high throughput and low transaction costs. Among the key components driving the DeFi ecosystem on Solana are decentralized exchanges (DEXs). Understanding the dominance and activity patterns of various DEXs on Solana can provide valuable insights into market trends, user preferences, and the overall health of the DeFi ecosystem on the network.

This analysis delves into the dominance of DEXs on Solana by examining several critical metrics from the Solana DeFi dataset for May 2024. By exploring the number of swaps, swap volume, daily swap volume trends, and peak swap hours for different DEXs, we can identify which platforms are leading in user engagement and transaction volume. This comprehensive examination not only highlights the most popular DEXs but also reveals user behavior patterns, such as the times of day with the highest transaction activity.

By focusing on these key aspects, this analysis aims to provide a clear picture of DEX dominance on Solana, offering valuable insights for investors, developers, and stakeholders in the DeFi space.