Bitquery: 58% of Solana DEX volume is circular bot trading
- —Bitquery's sample covered $201.4 billion in trades across indexed Solana pools over 30 days
- —58.4% of that volume was classified as circular or botlike
- —$111.6 billion, 95% of the flagged amount, was same-token, same-pool activity inside one transaction
- —Two wallet clusters of 20 and 50 addresses accounted for $26.3 billion of the flagged volume
Why it matters: Actual demand from independent traders on Solana may be far below reported DEX turnover, distorting how the network's liquidity is judged.
Source: CryptoSlate