1inch has orchestrated a dramatic comeback in the DEX aggregator space, capturing 60% market share in May after hitting a low of just 32% in March. This turnaround coincides with the platform’s strategic expansion to Solana, announced in late April as a direct play to capture the memecoin trading frenzy dominating that ecosystem.
The Solana expansion has proven to be a brilliant move for 1inch, helping drive total DEX aggregator trade volume to an all-time high of $52 billion, with 1inch capturing $31.5 billion of that volume. This represents a near-doubling of 1inch’s market position in just two months, demonstrating how quickly competitive dynamics can shift in the aggregator space.
The timing aligned perfectly with Solana’s continued dominance in new token launches, where 86% of new tokens are still being deployed compared to Base’s 10% share.
1inch’s aggressive market share gains have come at the expense of competitors like CoW Swap, Kyber, Paraswap, and Curve, which have all seen their relative positions compressed. The success of 1inch’s Solana strategy will likely force other aggregators to accelerate their own multi-chain expansion plans. With memecoin trading continuing to drive significant volume and fee generation, competitors face pressure to establish a presence on Solana or risk further market share erosion.
This market reshuffling highlights the increasingly competitive nature of DEX aggregation, where strategic positioning across the right ecosystems can determine market leadership. 1inch’s recovery from March lows demonstrates that market share in this space remains fluid and responsive to product development and expansion decisions.
This is an excerpt from The Block’s Data & Insights newsletter. Dig into the numbers making up the industry’s most thought-provoking trends.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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