Fluid Tailwinds: Solana Launch & DEX v2

Daniel ShapiroAug 12, 2025 ⋅ 5 min read

Fluid has continued to grow since we last wrote about it in April, with total assets deposited eclipsing $2.5B.

At the same time, its market share on Ethereum has surpassed 20%.

The Solana launch should be a meaningful catalyst for Fluid. Currently, Solana has approximately 19.4% market share in spot DEX volume while Ethereum has 19.6%. Thus, if Fluid can capture a similar portion of the market on Solana, this move could represent a 100% increase in volume.

Fluid has been able to attain significant market share on Ethereum while only optimizing for stable pairs. Fluid leads Ethereum in stablecoin swaps with 47% market share, beating out Uniswap and Curve with 32% and 14% respectively.

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Daniel Shapiro

30 Reports _dshap

Daniel covers AI, Derivatives, and Ethereum Layer 2s. He previously worked as a crypto investor and trader focused on fundamental research and quantitative investment strategies.

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Daniel Shapiro

Daniel covers AI, Derivatives, and Ethereum Layer 2s. He previously worked as a crypto investor and trader focused on fundamental research and quantitative investment strategies.

30 Reports _dshap

Mentioned Assets