Jupiter, the leading decentralized exchange (DEX) aggregator on the Solana blockchain, has now recorded over $4 billion in trading volume since the infamous FTX collapse. The new milestone follows a period of increased user activity on Solana as the nascent ecosystem seeks to banish memories of its affiliation with the FTX empire.

Jupiter is inarguably Solana’s most popular DEX aggregator, allowing users to trade different SOL-based tokens from liquidity pools across different DEXes. Using Jupiter, users can access the best prices while taking advantage of the network’s low fees and near-instant confirmations.

According to data on Jupiter’s data station, the aggregator has now pulled in over $4 billion in trading volume. The landmark figure encompasses Jupiter’s cumulative trading volume in the past six months since the FTX collapse (Dec 2022-May 2023). January saw the highest volume, with over $1 billion traded on the aggregator for the month, as crypto markets rebounded from yearly lows.

Jupiter Trading Volume
(Source: Jupiter Station)

As the above chart reveals, trading volume on the Solana-based DEX aggregator remains well below the $4.8 billion highs reached in a single month in mid-2022. However, trading activity has recovered within the same range as the months preceding the FTX debacle, which marked the start of the ongoing bear market.

Meanwhile, further on-chain data reveals that the Jupiter protocol has seen over 138,000 unique wallets connected in the past month alone. SOL concentrated pools, including SOL/USDC and SOL/USDT dominate trading on the platform, with a combined $133 million volume in May. Additionally, the mostly widely-used Solana DEXes for routing Jupiter orders in the past month include Orca, Raydium, and Lifinity.

SOL Rebounds From December Lows

November’s infamous demise of the FTX exchange saw the value of Solana’s native currency, SOL, reach new lows of around $8 at the time. However, the asset’s price has since rebounded and continues to trade above $20 at the time of writing. SOL has also recently overtaken close rival Polygon by market capitalization.

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