Raydium Surpasses Uniswap in Monthly Trading Volumes for Second Consecutive Month
11.12.2024 13:30 2 min. read Alexander Zdravkov SHARE: 0 SHARES Raydium, a decentralized exchange (DEX) built on the Solana network, has outpaced Uniswap in monthly trading volumes for the second consecutive month, according to a Dec. 10 report from Messari. In November, Raydium surpassed Uniswap by approximately 30%, reaching around $30 billion in volume, following a smaller victory in October with a 10% lead. This performance is primarily attributed to Raydium’s strong foothold within the Solana ecosystem, where it captures over 60% of the daily DEX volume. The DEX has gained significant traction, especially due to the popularity of memecoins, which accounted for a record 65% of its monthly volume in November. Memecoin trading, fueled by venture capital and growing interest, has contributed to the rising market cap of these assets, now valued at around $130 billion. Solana, emerging as a key player in memecoin trading, hosts platforms like Pump.fun, which mint and launch memecoins, many of which are traded on Raydium. This surge in memecoin activity has helped boost Solana’s total value locked (TVL), which has seen significant growth this year, although it still trails behind Ethereum. Raydium’s focus on Solana contrasts with Uniswap, which operates across 18 different blockchain networks. The growth of Solana’s DeFi ecosystem is driven by its technical advantages, such as high transaction throughput and low costs, attracting users seeking a more efficient DeFi experience. Meanwhile, Uniswap has expanded its reach with the launch of its layer-2 network, Unichain, in October. SHARE: 0 SHARES More Others News Phantom Hits $3B Valuation After Major Series C Funding Round Crypto wallet provider Phantom has raised $150 million in a Series C funding round led by Sequoia Capital and Paradigm, with participation from Andreessen Horowitz and Variant, pushing its valuation to $3 billion. 17.01.2025 22:00 1 min. read Alexander Zdravkov eToro Eyes IPO After SEC Filing, Aims to Revive Public Listing Plans Reports suggest that eToro has submitted confidential filings with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO), marking a potential milestone for the platform. 17.01.2025 20:00 1 min. read Kosta Gushterov The U.S. Doesn’t Need a CBDC Right Now, Says Trump’s Treasury Pick During his Senate confirmation hearing, Scott Bessent, President-elect Donald Trump’s nominee for Treasury Secretary, dismissed the idea of a U.S. central bank digital currency (CBDC), stating that such tools are unnecessary for the country. 17.01.2025 15:00 2 min. read Kosta Gushterov Polygon Announces Major Partnership to Accelerate Web3 Adoption in India Jio Platforms, a leading Indian tech subsidiary of Reliance Industries, has partnered with Polygon Labs to embrace blockchain and Web3 technologies. 17.01.2025 14:00 1 min. read Alexander Zdravkov QR for the Bitcoin/Ethereum Address: QR for the Bitcoin/Ethereum Address: