Record-Setting November Volumes
Raydium, a Solana-native DEX, has outperformed Uniswap for the second consecutive month. Messari’s December 10 report reveals Raydium’s $30 billion trading volume for November, 30% higher than Uniswap’s. October saw a narrower 10% margin, as noted by Syncracy Capital’s Ryan Watkins.
Memecoin Frenzy and Adoption
The memecoin trend has been pivotal to Raydium’s rise, accounting for 65% of its November activity. Platforms like Pump.fun have driven significant engagement, making Raydium a key player in this niche market.
Solana’s Expanding Ecosystem
As Solana’s DeFi ecosystem grows, Raydium benefits from its high throughput and low fees. The network’s TVL has increased fivefold in 2024, setting the stage for continued growth and competition with Ethereum-based platforms.
