Raydium Surpasses Uniswap in Monthly DEX Volumes

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RAY1,17%
UNI7,71%
  • October was Raydium’s first month as the number one DEX by volume across all chains. This trend accelerated in November with Raydium eclipsing Uniswap in monthly DEX volume by roughly 30% ($124.6 billion vs $90.5 billion).
  • The platform’s success is largely attributed to its dominance within the Solana ecosystem. In November 2024, Raydium consistently captured over 60% of daily DEX volume on Solana.
  • Memecoin trading has become a substantial driver of Raydium’s volume, with memecoins accounting for an all-time high of 65% of Raydium’s monthly volume in November.
  • Raydium’s growth also reflects the broader trend of Solana’s daily DEX volume surpassing Ethereum’s. In November, Solana had a nearly 50% share of monthly DEX volume across all chains, 175% more than Ethereum’s roughly 18% share.
  • The launch of Raydium’s V3 in March 2024 was a key catalyst in its rise to leading volume share on both Solana and globally in November.
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