MonitoringCryptoMarket structureFirst tracked 2026-09-25Last changed 2026-09-25
Current outcome
Bitquery's 30-day reconstruction of $201.4 billion in Solana DEX trades classified 58.4% ($117.7 billion) as circular or botlike activity, with roughly $111.6 billion coming from buying and selling the same token in the same pool within a single transaction, casting doubt on gross DEX volume as a measure of genuine independent trading demand.
Progress timeline
1 material updates- #01
Solana DEX volume spike hides circular trades, and automated bots are blamed
Bitquery's 30-day reconstruction of $201.4 billion in Solana DEX trades classified 58.4% ($117.7 billion) as circular or botlike activity, with roughly $111.6 billion coming from buying and selling the same token in the same pool within a single transaction, casting doubt on gross DEX volume as a measure of genuine independent trading demand.
Source evidence: CryptoSlate