Dark DEXs routed through aggregators are eating Solana spot flow- leaving 
SOLUSDT & 
JUPUSDT as the cleanest upside while order-book DEXs fight for share.
TVL on Solana just hit all-time highs, with the biggest lift coming via Jupiter (JUP) routing.
Over the last 30 days, the largest spot volume was on a private “dark DEX” (Humidifi) - not Meteora,
RAYUSDT , or 
PUMPUSDT .
These private venues plug into Jupiter’s aggregator, filling at better prices; efficiency accrues to the dark DEXs + the aggregator + the chain.
Net result: Raydium/Orca can rise with the tide short-term, but market share pressure is real if dark routing keeps compounding.
Trade view: The most direct upside is SOL + JUP. SOL’s pivotal level ≈ $175 - sustained breakout targets $250, then thin resistance up to ~$300.
Watching JUP share of routed volume, SOL TVL/fees, and spot depth for confirmation.
Not financial advice. Do your own research.
SOLUSDT & JUPUSDT as the cleanest upside while order-book DEXs fight for share.TVL on Solana just hit all-time highs, with the biggest lift coming via Jupiter (JUP) routing.
Over the last 30 days, the largest spot volume was on a private “dark DEX” (Humidifi) - not Meteora,
RAYUSDT , or PUMPUSDT .These private venues plug into Jupiter’s aggregator, filling at better prices; efficiency accrues to the dark DEXs + the aggregator + the chain.
Net result: Raydium/Orca can rise with the tide short-term, but market share pressure is real if dark routing keeps compounding.
Trade view: The most direct upside is SOL + JUP. SOL’s pivotal level ≈ $175 - sustained breakout targets $250, then thin resistance up to ~$300.
Watching JUP share of routed volume, SOL TVL/fees, and spot depth for confirmation.
Not financial advice. Do your own research.
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Use Link For Community Chat, Education, Data & News
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.