cryptojournalist
Two Months of Wins for Raydium
In November, Raydium beat Uniswap in DEX trading volumes by 30%, processing $30 billion, according to Messari. It also outperformed Uniswap by 10% in October.
Memecoins Boost Raydium’s Growth
Raydium dominates Solana’s ecosystem, handling 60% of its daily DEX trades. Memecoins, which accounted for 65% of Raydium’s November trading, are fueling its rise.
Solana and Pump.fun Lead the Memecoin Frenzy
Memecoins are worth $130 billion globally, and Solana has become their hotspot. Pump.fun, a platform for creating and trading memecoins, feeds much of this activity into Raydium.
Pump.fun earned $100 million in fees last month and plans to launch a token and a new trading tool soon.
Solana vs. Ethereum
Solana’s value locked in DeFi has grown fivefold in 2024, but it’s still far behind Ethereum’s $70 billion. Solana’s fast and cheap transactions attract users seeking a better DeFi experience.
Uniswap Expands with Unichain
Uniswap operates on 18 blockchains and recently launched Unichain, a layer-2 solution to enhance its performance.
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