Crypto trading terminals hit first $1 billion day since January 2025

Crypto trading terminals processed over $1 billion in a single day on Sept. 2, the first time since January 2025, according to data from analyst Adam on X. GMGN, a multi-chain terminal, accounted for nearly half of that volume, with most of its trades occurring on Robinhood Chain.

GMGN dominates with Robinhood Chain volume

GMGN handled $479.7 million of the $1.03 billion total on Sept. 2, with 91% of its trades settled on Robinhood Chain, a two-month-old network built for tokenized equities. Its Solana volume remained flat at $9.5 million, similar to levels from 30 days earlier. DefiLlama data shows GMGN’s volume reached $490.9 million that day, its third-highest on record.

Robinhood Chain itself saw record decentralized exchange (DEX) volume of $1.67 billion on Sept. 1, with $1.55 billion traded in the 24 hours leading up to Sept. 3. The chain’s 30-day DEX volume rose 34.9% to $20.36 billion, placing it second only to Solana.

DEX volume climbs across networks

Total DEX volume across all networks reached $9.18 billion over 24 hours and $236.3 billion over 30 days, a 26% increase from the prior month. Uniswap V4 led with $28.21 billion in 30-day volume, surpassing Uniswap V3’s $26.54 billion. Other platforms like PumpSwap, PancakeSwap Infinity, and Hyperliquid also saw significant growth.

August’s DEX volume totaled $233.5 billion, the highest since February, though still below the October 2025 peak of $588.3 billion.

Discrepancies in volume reporting

DefiLlama’s count for trading terminals on Sept. 2 was $600.3 million, lower than Adam’s $1.03 billion, due to differences in classification. DefiLlama excludes some venues like basedbot and pump.fun’s mobile app from its terminal category, treating them separately. Despite the discrepancy, both sources agree on the overall trend and GMGN’s leading position.

Market rally accompanies volume surge

The volume increase coincided with a broader market rally. Bitcoin rose 5.2% in 24 hours and 27.2% over 30 days, while Ether and Solana saw gains of 34.3% and 41.9%, respectively. Tokens tied to high-volume platforms, such as UNI, HYPE, and PUMP, also surged, with UNI up 60.3% over 30 days.

Sources

• The Defiant