DefiLlama’s Nov. 10 snapshot showed nearly $9 billion in seven-day Solana perpetuals turnover, up 65.29% from the preceding week. GMTrade accounted for about 77% of that reported turnover. Over the same seven-day comparison, spot decentralized exchange turnover fell 5% to $9.9 billion, while stablecoin market capitalization fell 4.38% to $14.5 billion.
Turnover counts trades, including repeated leveraged trades; it does not measure new SOL buying or fresh collateral. GMTrade held about 74% of the table’s open interest at the snapshot, but that single reading does not show weekly growth. DefiLlama lists Pacifica’s $2.6 billion in weekly perpetuals turnover as off-chain, outside its Solana table. GMTrade offers trading incentives, but the source says their contribution to the increase is unknown.
