Solana-based DEX Raydium Surpasses Tether in Daily Fee Generation
Raydium, a decentralized exchange (DEX) built on the Solana blockchain, has achieved a significant milestone by outperforming stablecoin giant Tether in daily fee generation.
Impressive Fee Generation Statistics
- Raydium generated over $15 million in fees in the last 24 hours.
- This surpasses Tether’s $13 million in fees during the same period.
- Raydium’s weekly fee revenue reached $81.2 million, making it the second-highest earner in the DeFi ecosystem.
Market Observers Attribute Growth to Memecoin Trend
The recent surge in memecoin trading has fueled increased volumes on the Raydium platform, contributing to its impressive performance. Market observers believe that the popularity of memecoins has played a significant role in driving trading activity on Raydium.
Raydium Leads in Trading Volume
Raydium has also emerged as a leader in trading volume, handling a staggering $30 billion during the week. This far exceeds the trading volume of Uniswap, a leading DEX operating across multiple networks.
Rising Popularity of Solana-based Platforms
The success of Raydium highlights the growing popularity of Solana-based platforms among traders who seek high-speed and low-cost alternatives. The efficiency and scalability of the Solana blockchain have attracted traders looking for seamless trading experiences.
