CoinDiary’s Post

Raydium a decentralized exchange on @solana has surpassed Uniswap to become the leading DEX by trading volume across all chains, according to Matt Kreiser, a research analyst at #Messari #Raydium recorded $125 billion in monthly trading volume, outperforming #Uniswap $91 billion by nearly 30% for two consecutive months. This achievement stems from Raydium's dominance over Solana's daily DEX volume, capturing over 60% since October 2024. Notably, Solana now holds 50% of the total monthly DEX volume across chains, significantly outpacing #Ethereum's 18%. Key drivers of Raydium's success include its March 2024 V3 launch, which introduced advanced portfolio management tools, revamped liquidity pools, and an enhanced user experience. Additionally, November saw a surge in memecoin trading, boosted by partnerships with Solana’s Pump.fun launchpad, which funneled liquidity into Raydium's pools. Memecoin trading accounted for 65% of Raydium's daily trading volume by November 2024, with the platform averaging nearly $2 billion in daily memecoin trades. This reflects Raydium's alignment with market trends and its ability to capture a growing share of the DeFi market. Raydium's consistent innovations and strategic moves have solidified its position as the top DEX, reshaping the competitive landscape of decentralized exchanges. #coindiary #coindiaryapp #solana #raydium $sol

  • No alternative text description for this image

To view or add a comment, sign in

Explore topics