In October, Raydium made history by becoming the number one DEX by volume across all chains, a milestone it quickly built on in November.<\/p>\n
According to Messari\u2019s latest report, Raydium surged ahead of Uniswap in monthly DEX volumes by a striking 30%, achieving $124.6 billion compared to Uniswap\u2019s $90.5 billion.<\/p>\n
Raydium has steadily increased<\/a> its share of Solana\u2019s DEX volume this year. Since March 6, Raydium has consistently outperformed Orca, its closest competitor, in daily volumes.<\/p>\n The third quarter of 2024 was a key milestone for Raydium, as it took the lead in daily DEX volume for the first time since 2022, marking its second consecutive quarter at the top. By November 2024, Raydium was capturing over 60% of Solana\u2019s daily DEX volume, as per Messari\u2019s analysis.<\/p>\n The explosive growth in meme coin trading has become a key driver of Raydium\u2019s volume, particularly after the US presidential election on November 5, 2024. In the subsequent weeks, daily meme coin trading on Raydium averaged nearly $2 billion \u2013 three times higher than the previous month\u2019s average.<\/p>\n This surge in meme coin activity now accounts for 65% of Raydium\u2019s total daily trading volume, a significant increase from just 2% in November 2023.<\/p>\n The synergy between Raydium and Pump.fun<\/a>, the popular Solana-based meme coin launchpad, has played a crucial role. As Pump.fun tokens reach a market cap of $69,000, Raydium\u2019s automated market maker (AMM) pools receive additional liquidity, providing ongoing trading opportunities and driving further volume.<\/p>\n Raydium\u2019s surge in volume and success is intrinsically linked to the rapid expansion of the Solana ecosystem, which has emerged as a significant competitor to Ethereum in the DEX space.<\/p>\n Following a series of impactful airdrops in December 2023, Solana quickly began challenging Ethereum\u2019s dominance in weekly DEX volumes. Messari\u2019s report noted that the liquidity influx resulting from these airdrops dramatically increased Solana\u2019s network activity.<\/p>\n In Q3 2024, Solana\u2019s share of weekly DEX volume exceeded Ethereum\u2019s threefold, marking a turning point in the decentralized exchange hierarchy. This momentum continued through October 2024, with Solana consistently overtaking Ethereum in daily DEX volume. By November 2024, Solana had captured nearly 50% of monthly DEX volume, 175% more than Ethereum\u2019s 18%. The migration of users to Solana has led to increased volumes for platforms like Raydium.<\/p>\n The post Raydium Surpasses Uniswap to Claim Top Spot in Monthly DEX Volume: Messari<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" In October, Raydium made history by becoming the number one DEX by volume across all chains, a milestone it quickly built on in November. According to Messari\u2019s latest report, Raydium surged ahead of Uniswap in monthly DEX volumes by a striking 30%, achieving $124.6 billion compared to Uniswap\u2019s $90.5 billion. Raydium Leaves Uniswap Behind Raydium […]<\/p>\n","protected":false},"author":0,"featured_media":27671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27670"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27670"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27671"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Raydium Boosted by Solana\u2019s Growing Market Share<\/h2>\n