Solana-based decentralized trade (DEX) Raydium has outperformed stablecoin big Tether in every day payment technology.
In keeping with knowledge from DeFiLlama, Raydium generated over $15 million in charges within the final 24 hours, surpassing Tether’s $13 million throughout the identical interval.
Over the previous week, Raydium’s payment income reached a powerful $81.2 million, positioning it because the second-highest earner within the DeFi ecosystem. Tether retained the highest spot in weekly payment technology.
Market observers attribute this development to the resurgence of the memecoin pattern, which has fueled elevated buying and selling volumes on the Solana-based platform. Notably, Raydium’s quantity has outshined Uniswap, the main DEX working throughout almost 20 networks, together with Ethereum and layer-2 options like Base and Arbitrum.
In the course of the week, Raydium dealt with a staggering $30 billion in buying and selling quantity, far exceeding Uniswap’s $19 billion.
This milestone illustrates the rising recognition of Solana-based platforms as merchants search high-speed and low-cost options.