Orca DEX processed $145.8 million in 24-hour volume, climbing one position to rank ninth among decentralized exchanges, according to on-chain data tracked by DefiLlama. The move displaced Manifest Trade, which handled $110.9 million over the same period.
Oorca gained approximately $35 million in relative volume advantage on Manifest Trade within a single 24-hour window, moving from tenth position the prior day.
Orca operates as an automated market maker on Solana, where transaction costs and settlement speed have drawn users away from Ethereum-based DEX infrastructure. The current top-nine ranking positions include Uniswap, PancakeSwap, dYdX, Curve, Bybit, OKX and other high-volume venues. Manifest Trade, an order-book exchange also built on Solana, has competed for volume share in the ecosystem's growing trading segment.
Daily volume leadership among mid-tier DEXes shifts with changes in user flow and trader incentives. Solana-based venues have collectively captured increased market activity as the chain's validator count and stability have improved. Orca's advance past Manifest Trade places it among the upper tier of DEX operators by single-day volume, though rankings at this position can reverse within hours as trading activity redistributes.
The number that tracks this competition is the daily volume gap, now 31 percent in Orca's favor. If Orca holds ninth position through the close of trading on July 28, it will have sustained the ranking change across calendar boundaries rather than achieved a momentary spike.
