Orca DEX volume leads Solana with $2.42 billion in a week

Orca DEX volume reached $2.42 billion over the past seven days, the most of any decentralized exchange on Solana ($SOL), according to DefiLlama data read at 19:40 UTC on Oct. 1. That puts Orca ($ORCA) ahead of BisonFi, PumpSwap and Raydium for the week.

Orca also led the latest 24 hours, with $322.8 million of the $2.57 billion traded across Solana DEXs, a 12.6% share. CoinGecko’s exchange tracker shows the same leader. It puts Orca’s 24-hour volume at about 3,604 $BTC, close to $305 million, the highest among the Solana DEXs it lists.

The quick take

Price: $ORCA trades at $1.66, up 0.5% in 24 hours and 6.4% in seven days (CoinGecko).
Trigger: Orca DEX leads Solana in seven-day trading volume with a 14.3% share of $16.91 billion.
Watch: The 30-day ranking, where Pump.fun’s PumpSwap still leads with $14.57 billion.

What happened

DefiLlama tracks daily trading on every major Solana exchange. Its seven-day table now looks like this:

DEX	7-day volume	Share of Solana DEX volume
Orca DEX	$2.42 billion	14.3%
BisonFi	$2.26 billion	13.4%
PumpSwap	$2.18 billion	12.9%
Raydium AMM	$1.90 billion	11.2%
All Solana DEXs	$16.91 billion	100%

The daily order looks similar. In the latest 24 hours, BisonFi came second with $285.0 million and Raydium AMM third with $257.9 million, per DefiLlama. PumpSwap was fourth with $207.0 million.

The weekly lead is new for Orca. Over 30 days, PumpSwap from Pump.fun ($PUMP) still ranks first with $14.57 billion. Orca sits fourth with $7.80 billion, about 10.0% of Solana’s $78.33 billion total, behind BisonFi and Raydium ($RAY).

CoinGecko measures DEX volume in its own way, so its numbers differ from DefiLlama’s. Its order matches at the top, though. After Orca it lists Meteora at about 2,812 $BTC and Manifest at about 1,855 $BTC in 24-hour volume.

Why it moved

No single announcement explains the shift. DefiLlama’s daily figures point to steady trading rather than one big day. In its last seven daily readings, Orca’s volume ranged from $230.8 million to $439.0 million.

At the same time, a large rival slowed down. PumpSwap’s 24-hour volume fell 38.7% from the day before, to $207.0 million. Orca’s volume fell a smaller 12.2% over the same stretch. Total Solana DEX volume rose 1.4% in that window.

Orca also gets a lot of trading out of its liquidity. Its total value locked, the money sitting in its pools, is $313.1 million on DefiLlama. Seven days of volume equal about 7.7 times that amount, so each dollar in its pools was traded several times over.

For traders, busy pools matter. More volume on one exchange usually goes with deeper liquidity there, which can mean smaller price gaps on large swaps.

Those trades produced $2.49 million in fees over the week, according to DefiLlama, with $314,608 in the latest 24 hours. Fees are the part of DeFi trading that pays liquidity providers (LPs) and the protocol.

The $ORCA token has moved far less than the volume. It trades at $1.66, up 0.5% in 24 hours and 6.4% in seven days, per CoinGecko. Over 30 days it is up 37%. It still sits about 92% below its record high of $20.33, set on Oct. 2, 2021.

What to watch next

The weekly order. The top four Solana DEXs sit within $520 million of each other over seven days. One strong day at BisonFi or PumpSwap could flip the ranking.
The 30-day gap. Orca would need several more weeks like this one to close in on PumpSwap’s $14.57 billion.
Fees versus liquidity. If fees keep rising while total value locked stays near $313 million, each dollar of liquidity earns more for Orca’s LPs.

Bottom line: Orca DEX leads Solana trading for the week on steady volume, but its 30-day rank and its token price have not followed yet.