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Insights / Research / Charts of the Week: Trading Terminals Take Over

Written by:

Will Owens

Research Analyst

Topics

research • September 04, 2026

Charts of the Week: Trading Terminals Take Over

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This article originally appeared in Galaxy Research's weekly newsletter. Subscribe to get timely insights delivered to your inbox every Friday morning.

Trading terminal volume has gone vertical since the start of the summer.

Back in June, weekly aggregate swap volume routed through onchain terminals (including FOMO, GMGN, Axiom, Pump.fun app, Terminal, Trojan, Photon, BullX, BonkBot, BasedBot, and Maestro) was ~$500m. It’s now pushing ~$4b. That’s roughly an 8x increase in less than three months. Robinhood Chain has seen massive success with tokenized equity-memecoin pairs and is driving user activity.

Trading terminal weekly volume by chain

Terminals also just cleared $1b in a single day. That’s the first billion-dollar trading terminal volume day since January 2025. As a reminder, that earlier spike was driven by the president of the United States launching a memecoin on Solana.

Trading Terminal daily volume

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