A Stellar Performance in November
Solana-native Raydium has once again surpassed Uniswap, recording $30 billion in trading volume for November, 30% higher than Uniswap, according to Messari’s December 10 report. This marks the second consecutive month of dominance, following a 10% lead in October, as shared by Syncracy Capital’s Ryan Watkins.
Memecoins as Key Drivers
Raydium’s success is closely tied to the memecoin boom, which contributed 65% of its November volume. Pump.fun has been a significant platform for this trend, further solidifying Raydium’s position.
Uniswap’s Broader Reach
Despite Raydium’s recent victories, Uniswap remains a major player with its presence across 18 blockchain networks. However, Solana’s rapid growth and unique advantages may pose challenges to its dominance.
