Summary
- Raydium surpassed Uniswap by about 30% in trading volume last November.
- The surge in Raydium's trading volume is attributed to the popularity of Solana-based meme coins.
- Raydium's price has recently surged by 11.37% to trade at $5.48.
The Solana (SOL)-based decentralized exchange (DEX) Raydium (RAY) has seen a significant increase in trading volume over the past month.
On the 11th (local time), CryptoNews reported, citing a Messari report, that Raydium surpassed Uniswap (UNI) in terms of trading volume last November.
According to the Messari report, Raydium recorded a trading volume of $124.6 billion (approximately 178 trillion won) in November, surpassing Uniswap, which recorded $90.6 billion (approximately 130 trillion won), by about 30%. This accounts for 41% of the total trading volume on the Solana network.
Meanwhile, the surge in Raydium's trading volume is analyzed to be driven by the popularity of Solana-based meme coins.
The price also reflected this. As of 6:40 AM on the 12th (KST), Raydium is trading at $5.48, up 11.37% from the previous day, according to CoinMarketCap.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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