HumidiFi Becomes Largest DEX on Solana
HumidiFi has overtaken other platforms to become the biggest decentralized exchange (DEX) on Solana. According to DeFiLlama data, it processed $1.1 billion in trades in one day, $9.7 billion in a week, and $34 billion over the past month.
How HumidiFi Operates as a Dark Pool
Unlike many DEXs, HumidiFi functions as a dark pool. This means trade details remain confidential. It uses a private system that hides order information. Traders avoid price swings and prevent others from gaining an unfair advantage. Large investors prefer HumidiFi for discreet, large trades that do not affect market prices.
Private Liquidity Drives Institutional Growth
- HumidiFi does not have a public trading page. Trades occur through aggregators, keeping prices private.
- This setup helps traders hide strategies and avoid market volatility.
- Sandwiched.me reports that protocols like HumidiFi often secure better prices, improving trading efficiency.
- Its quiet trading environment has attracted many large traders, shifting liquidity away from open exchanges like Raydium and Orca.
- In June, HumidiFi handled only a few million dollars daily. By August, daily volume exceeded $1 billion.
- Since then, daily trades have averaged between $1.2 billion and $2 billion.
- Blockworks data shows daily Solana trading ranges from $3 billion to $6 billion, peaking at $10 billion.
- Most trades involve swapping SOL for stablecoins USDC and USDT, with smaller amounts in meme coins, Bitcoin, and liquid staking tokens.
HumidiFi’s rise highlights growing demand for private and efficient crypto trading on Solana’s network.
