According to a CoinGecko Research report, the median market depth for SOL on eight centralized exchanges dropped from approximately $28 million per side in 2025 to $20 million in 2026. This represents a decline of over 28.5%. The study analyzed data collected between July 6 and September 3, 2026.
During periods of market volatility, liquidity on most platforms frequently decreased to a range between $3 million and $4 million. Despite the overall reduction in depth, the report notes that SOL liquidity is now distributed more evenly across various trading venues compared to previous periods.
MEXC currently leads in market-price liquidity for SOL with approximately $934,000 available, surpassing Binance and Coinbase. Additionally, MEXC holds the top position for Dogecoin market-price depth with over $443,000. Bitget and Coinbase demonstrate greater depth further from the immediate price.
The research highlights that while Bitcoin experienced a nearly 50% increase in market depth, Ethereum followed a similar trend to Solana with reduced relative depth. On August 25, 2026, SOL briefly exceeded $100, a movement attributed to significant ETF inflows despite the contraction in overall exchange liquidity.
