Over the last few months, Solana has had a surge in on-chain activities on the blockchain. This was likely driven by its impressive transaction speed and the rise of meme coin platforms like PumpFun. With transactions per second (TPS) currently surpassing expectations (currently averaging 3k TPS), Solana has solidified itself as one of the fastest and most scalable blockchain currently in the market. So, it has become a herding ground for both developers and traders.
As a result, there has been an increase in the search for dApps that support and cater to the Solana blockchain’s unique ecosystem. So whether you’re looking for decentralized trading dApp, an advanced token analytics and visualization platform, or you’re looking for the factors to consider when making your choices, you’re at the right place.
In this article, we’ll explore the top 10 solana trading platforms that are reliable, and secure, and will offer you the best experience at this period.
Top Solana Trading Platforms
DEXRabbit
DEXRabbit is a decentralized crypto trading platform that lets you track and analyze crypto token pairs across multiple exchanges. This decentralized exchange offers insights into market trends, token performance, and trading volume. It also enables traders to make informed decisions quickly.
Designed by Bitquery, DEXRabbit lets you access trading data like top gainers/losers and unique trading insights in the Solana blockchain. With DEXRabbit, you can monitor market activities, optimize strategies, and access APIs to integrate data into your dApp.
Key Features
Smart Order Routing (SOR)
DEXRabbit’s SOR helps you find the best platform to execute trades. It simultaneously analyzes several platforms for price, liquidity, and slippage to attain the most suitable market.
SOR is an essential tool for DEX traders. Simultaneously analyzing and scanning several markets, DEXRabbits executes the best available opportunity in a range of DEXes and secures the best deal with minimal delay.
Pump.Fun Trading Support
DEXRabbit enables trading on Pump.fun. Pump.fun is a popular meme coin token launchpad on the Solana network. DEXRabbit enables traders to access the pump.fun platform to bid on trades. It provides users access to useful information (like price change, unique trade, traders, bought and sold) to make informed decisions.
Real-time Market Data
DEXRabbit provides up-to-the-minute updates on trading metrics. Metrics like price movement, trading volume, and liquidity across DEXes. With this feature, traders can track how prices of tokens fluctuate/move on various DEXes as trade occurs.
This enables them to avoid risks and spot opportunities as fast as possible. With this, traders can make informed and timely decisions during the fast-moving market.
API Access
DEXRabbit offers API access to integrate data into your dApp. It enables developers and advanced traders to integrate the DEXRabbit into their dApp for advanced and customized trading.
The ‘Get API’ button is linked to the Bitquery IDE. So you can access premade queries and integrate them into your dAPP or analytical platform.
Detailed Trading Pair Insight
DEXRabbit offers users detailed insights into Solana trading pairs. Users can explore trading pairs across the Solana network. You can analyze the price, liquidity, and trading volume in multiple DEX on the Solana blockchain.
Jupiter
Jupiter is a decentralized exchange aggregator on the Solana blockchain. It offers web3 tools like swap tools and payment APIs. It’s optimized for the best available swaps between any supported token pairs. Launched in 2021, this decentralized exchange aggregator provides a single interface to access all liquidity in multiple pools for a token or combination of tokens.
Key Features
Exchange Aggregator and Swap
Jupiter aggregates liquidity for various DEXes including Automated Market Maker (AMM) and orderbook DEXes. It also offers a limit ordering feature that allows traders to set buy/sell prices instead of accepting the current market price.
Dollar Cost Averaging (DCA) Feature
Have the DCA feature, which automatically buys a fixed token amount at a given interval.
Perpetual Trading
Offers access to trades using leverages, which are available up to 100x.
Raydium
Raydium is an AMM, money market, and a token launchpad on the Solana blockchain that shares liquidity with the Serum DEX. This market maker offers a central order book for limit orders. The Central Limit Order Book (CLOB) is the mechanism used to facilitate trade between buyers and sellers on an exchange. It allows access to ecosystem-wide liquidity and order flow, similar to CEXes.
Unlike most DEXes, which have significantly different interfaces to CEXes, Raydium offers an interface similar to CEX. This makes it easier to integrate people coming from traditional finance into the DeFi ecosystem.
Key Features
Intuitive and an Easy-to-use Interface
Raydium comes with various tools that make it easier to integrate CEX users into web3. It has a similar interface with Centralized exchanges. It offers a seamless interface with a clean design for users.
Central-limit Order Book (CLOB)
Raydium offers a central limit order book, which provides transparency in trading. It also offers great control over the execution price, allowing traders to minimize slippage and maximize profit.
Orca
Orca is a decentralized exchange with an intuitive user interface. Launched in February 2021, this exchange was designed to mitigate high fees associated with Ethereum-based exchanges by leveraging the Solana blockchain.
With Orca, you can trade various Solana-based tokens permissionless and non-custodial. The exchange uses the AMM to facilitate token swaps and rely on liquidity pools.
Key Features:
Double Dip Liquidity
It enables investors to provide liquidity for additional rewards from Orca and other external Solana DEX protocols.
User-Friendly Interface
Orca offers an easy-to-use and highly simplified interface to cater to new and experienced crypto traders.
Fast Transaction Processing
Leverages Solana’s throughput and low fees for near real-time swaps at minimum cost.
DEXTools
DEXTools is a web3 platform that provides real-time data and analytics for decentralized exchanges. It offers different tools developed to help traders and investors access and analyze data to make informed decisions.
DEXTools enables users to track, monitor, and optimize trading strategies. It also offers real-time data, charts, and analysis across the Solana blockchain.
Key Features
Real-time Analytics
It provides near real-time access to data for analysis and crucial market data for investors to make informed decisions.
Price Alert and Notification
DEXTools offers customizable price charts and allows users to set up notifications for token price movements. With this feature, users can always act on market opportunities and react to sudden price changes as quickly as possible.
Social Trading
Users can track and analyze wallet addresses for trading strategies. With this, users can follow top-performing wallets, learn from them, and replicate their trading strategy.
DEXGuru
DEXGuru is an on-chain analytics and trading terminal that focuses on providing the best trading experience possible. It also lets you access a token swap tool.
The swap tool allows users to buy and sell spot assets directly from the DEXGuru terminal without using a separate protocol. It provides real-time market data and trading capabilities for DEX traders.
Key Features
Onchain Data and Trading
Offers on-chain analytics with real-time trading insight. It provides insight into on-chain trades and wallet activities. Traders can see and analyze tokens that are actively being bought and sold, top-performing tokens, and historical data.
Real-time Token Data
Provide real-time data on token prices, trade volume, liquidity, and important trading information. This makes it a go-to platform for the latest information on trading on DEXes.
Gecko Terminal
Gecko Terminal Is a decentralized finance dashboard and analytics platform by CoinGecko. It is designed for traders and DeFi enthusiasts to easily track and analyze token performance and trading activities across multiple DEXes and blockchains.
This web3 analytical dashboard provides real-time statistics and price analysis across multiple chains. With Gecko Terminal, you can learn about the hottest trends and the latest token/pool statistics. You can also track token prices and trading volume in real-time.
Key Features
Interactive Charts and Technical Analysis
Gecko Terminal Integrates interactive charts from TradingViews. This allows users to add indicators, adjust time frames, track historical price data, and perform technical analysis to make informed trading decisions.
Clean and Intuitive User Interface
Offers a user-friendly and intuitive interface designed for users at any level. Users can easily navigate the platform with different levels of experience.
Real-time Data Access
Users can also track token prices and liquidity on different DEX platforms. Gecko Terminal provides real-time information on token price, liquidity pool, trading volume, and price changes.
Lifinity Exchange
This is a decentralized exchange on the Solana blockchain that aims to improve capital efficiency and reduce impermanent losses. It combines concentrated market-making with order-based pricing to reduce impermanent loss.
Lifinity Exchange also has an in-built aggregator that looks for the best price across multiple exchanges and the cheapest route to swap tokens.
Key Features:
Concentrated Liquidity
Lifinity’s concentrated liquidity feature increases capital efficiency by adding depth to the trading market. Concentrated liquidity means that liquidity for token pairs is concentrated within specific ranges. As a result, liquidity is allocated more efficiently, providing deeper liquidity around the most traded price range. This reduces slippage and impermanent losses.
Dynamic Market Making
Lifinity Exchange doesn’t offer a fixed liquidity range. It actively adjusts the position of its liquidity to stay within optimal price ranges. This reduces impermanent loss when capturing trading fees.
Unfixed Fees
It offers a feature that adjusts fees according to the current market condition. When there is high volatility, for example, transaction fees are increased to compensate liquidity providers for the risk. Likewise, they lower fees during periods of low volatility to encourage trading.
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Written by Emmanuel
Top 10 Solana Trading Platforms was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.