Table of Contents – SwapKit Q4 2025
SwapKit Q4 2025
đź’ˇ In Q4 2025, SwapKit’s primary strategic objective was to expand our blockchain coverage, diversify our provider ecosystem, and enhance platform functionality to strengthen our position as the most comprehensive cross-chain swap aggregation platform.
We recognized that supporting emerging high-performance chains, enabling integrators to access multiple liquidity providers, and delivering improved developer tools and infrastructure would drive sustainable growth while reducing concentration risk.
The release of our V3 API with dynamic pricing structure is a transformative milestone, delivering a streamlined developer experience, improved performance and product competitiveness.
Through onboarding new wallet partners like CoolWallet, Zypto, and Coin98, strategic provider diversification with Chainflip activations across multiple integrators, and expanded Near-Intents protocol activations for Ledger and OneKey, we achieved remarkable growth in this quarter. We drove swap volume from $691 million in Q3 to $1.59 billion in Q4 – a 129% quarter-over-quarter increase and our first quarter with over $1B in volume.
This growth trajectory validated our thesis: expanding chain coverage, diversifying liquidity sources, and improving developer tooling would strengthen SwapKit’s market position. We’re now positioned for continued expansion and new major wallet partnerships in 2026.
Growth Highlights
This quarter, we paid close attention to three main metrics:
- Total Volume – Our most important metric, as it directly relates to revenue for SwapKit.
- Unique Addresses – How we measure monthly (unique) active users, validate demand for our service, and growth in mind share.
- Number of Transactions – How we measure how competitive our service is and the retention for end users.
Activation of high-volume, popular and trendy chains for large clients contributed to a big increase in unique wallet addresses using SwapKit services.
Swap Volume
| Month | Total Swap Volume (USD) | MoM Growth |
|---|---|---|
| April | $95,795,409.10 | — |
| May | $166,416,128.50 | +74% |
| June | $208,333,674.40 | +25% |
| July | $175,482,661.10 | -16% |
| August | $250,405,514.30 | +43% |
| September | $265,327,236.20 | +6% |
| October | $446,053,907.10 | +68% |
| November | $722,510,501.20 | +62% |
| December | $416,816,528.90 | -42% |
We are showing the total monthly DEX volume to help put SwapKit volume into perspective of the overall market conditions. December is marked with the holiday season which often sees lower volume.
Unique Wallet Addresses (MAU)
| Month | Unique Addresses (MAU) | MoM Growth |
|---|---|---|
| April | 4,611 | — |
| May | 5,911 | +28% |
| June | 9,164 | +55% |
| July | 16,361 | +79% |
| August | 50,763 | +210% |
| September | 101,906 | +101% |
| October | 109,320 | +7% |
| November | 103,282 | -6% |
| December | 89,608 | -13% |
Number of Transactions
| Month | Total Transactions | MoM Growth |
|---|---|---|
| April | 7,318 | — |
| May | 10,075 | +38% |
| June | 13,085 | +30% |
| July | 22,327 | +71% |
| August | 72,537 | +225% |
| September | 164,190 | +126% |
| October | 178,960 | +9% |
| November | 160,740 | -10% |
| December | 141,983 | -12% |
New Integrators
CoolWallet Wallet
A credit-card–sized hardware wallet designed for secure and portable crypto storage, using a secure element chip with a slim, waterproof design and encrypted Bluetooth connection to pair with a mobile app.
Website: https://www.coolwallet.io/
Zypto
A multi-chain self-custody crypto wallet and payments app focused on real-world usability, supporting swaps, staking, NFTs, and dApp access alongside crypto debit card and merchant payment features.
Website: https://zypto.com/
Coin98
A multi-chain, non-custodial crypto wallet (part of the broader Coin98 ecosystem) supporting dozens of blockchains with built-in swaps, cross-chain bridging, staking, and dApp access.
Website: https://coin98.com/
New Chains
Monad (November 2025)
Market Daily Volume: $100M+
Stablecoin Market Cap: $420M+
TVL: $220M+
SwapKit was a day-one launch partner, integrating Monad support from the moment the mainnet went live. Monad is a high-performance, Ethereum-compatible Layer-1 blockchain that launched its public mainnet on November 24, 2025.
Website: https://www.monad.xyz/
SUI (late December 2025)
Market Daily Volume: $400M+
Stablecoin Market Cap $500M+
TVL: $930M+
Sui is a high-performance Layer-1 blockchain built by Mysten Labs using the Move programming language and an object-centric data model, with parallel transaction execution for low-latency, high-throughput applications. It uses delegated Proof-of-Stake consensus and is optimized for consumer-facing applications like DeFi, gaming, NFTs, and social platforms while maintaining strong security.
Website: https://www.sui.io/
Berachain (October 2025)
Market Daily Volume: $15M+
Stablecoin Market Cap $170M+
TVL: $160M+
Berachain is a high-performance, EVM-compatible Layer-1 blockchain that uses a novel Proof-of-Liquidity consensus mechanism linking network security to DeFi liquidity provision and operates with a three-token model (BERA for gas, BGT for governance, and HONEY as a stablecoin). It’s built on the Cosmos SDK framework and maintains Ethereum tooling compatibility, enabling easy smart contract deployment while benefiting from Cosmos interoperability.
Website: https://www.berachain.com/
Gnosis (October 2025)
Market Daily Volume: $5M+
Stablecoin Market Cap $100M+
TVL: $130M+
Gnosis Chain is an Ethereum-compatible sidechain (formerly xDai Chain) that enables fast, low-fee transactions using a stablecoin-based fee model and supports DeFi applications through integration with GnosisDAO governance. The ecosystem includes key infrastructure like Gnosis Safe for multisignature wallet security and CoW Protocol for DEX trading with MEV protection, serving applications across payments, NFTs, and DeFi.
Website: https://www.gnosis.io/chain
New Providers Activations
In Q4, one of SwapKit’s main goals was to help customers integrate new providers to increase provider diversity and enable their end users to receive the best and fastest quotes across the crypto landscape.
Activations:
- Chainflip provider was activated for Coolwallet, Zypto, Coin98.
- Near-Intents protocol was activated for existing integrations Ledger and OneKey.
- THORChain provider was activated for Coolwallet, Zypto, Coin98.
Product Updates
V3 API Release
Our V3 services are now live in production, delivering a streamlined developer experience alongside significant performance improvements. The new architecture reduces integration complexity and improves response times across all endpoints.
Check [SwapKit Docs] for more details.
V3 Pricing Update
API V2 pricing was a flat 20bps for all swaps.
Service fees have been restructured for V3 users, offering more competitive pricing, and allowing SwapKit to be more aggressive in capturing market share. Integrators still have clarity over what is the max service fee SwapKit can charge. We can better react to competitor’s live quotes and participate in more promotional campaigns from events or chain launches.
| Swap – V3 Pricing | Standard Pricing |
|---|---|
| Size: $0 – $500k | 15bps max |
| Size: $500k – $1M | 12bps max |
| Size: $1M+ | 10bps max |
| Stablecoin <> Stablecoin | 1bp max |
Harbor Protocol Go-live
Harbor has chosen SwapKit as their protocol launch partner. Founded by a team of expert builders with experience at AirSwap and Thorchain, Harbor represents a natural collaboration given our shared history in the cross-chain ecosystem. Harbor closed a $4.2M round and our teams continue to work closely on integration and growth initiatives.
Zcash Transaction Improvements
Our swap API now returns PCZT-compatible transactions across multiple versions, complementing existing ZCash PSBT support. This highly requested feature enables broader ZCash trading support for clients using the native Rust library.
Near Intents Preferred Asset for Fees
In collaboration with the NEAR Intents protocol team, we’ve delivered support for collecting affiliate fees in any requested asset. This unlocks stablecoin fee collection for all clients, improving revenue predictability and reducing accounting overhead.
On-chain transactions indexing
We’ve rebuilt our swap monitoring infrastructure with scalability in mind, creating a more robust foundation for reporting, analytics, and future product enhancements.
Every transaction initiated through our API is now systematically captured and indexed into a unified data platform. This allows us to track activity end-to-end, maintain a complete historical record, and turn raw on-chain activity into structured, queryable insights.
For partners, this means clearer visibility into volumes, performance, and trends—powering richer dashboards, more accurate reporting, and faster access to the data that matters most. It also unlocks new capabilities over time, from deeper analytics to more intelligent tooling built directly on top of this data layer.
About SwapKit
SwapKit develops technologies and operates services enabling non-custodial, permissionless cross-chain trading for wallets, dApps, and crypto platforms. Through its API and SDK, SwapKit enables seamless swaps across multiple chains – including Bitcoin — to let users trade native assets in a single transaction without handling the underlying complexity.
SwapKit integrators benefit from a unified API to get access to multiple providers, abstracting away integration complexities. Integrators can monetize their SwapKit integration using tailor-made tools to easily configure and collect swap fees. SwapKit supports address AML checks, transaction status tracking, and multi-chain wallet interaction. With fully open-source smart contracts and a continuously expanding chain / asset coverage, SwapKit empowers projects to embed composable cross-chain DeFi capabilities efficiently.
For media enquiries, please contact: contact@swapkit.dev
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