The post Raydium is catching up with Uniswap spot volumes appeared on BitcoinEthereumNews.com.

Raydium is getting closer to Uniswap in daily spot volumes, as the inflow of meme tokens does not stop. Raydium continued its activity while other markets slowed down after the latest crypto rally.  The meme frenzy shows no signs of slowing down, as Raydium is catching up with Uniswap on weekly volumes. The Solana DEX ecosystem remains near its peak activity, and Raydium reached $20B in weekly spot volumes. Raydium remained one of the most resilient app, even as the entire crypto market slowed down and moved away from its peak activity and record valuations. Uniswap was still first with $26B in weekly volumes, mostly due to its distribution to multiple ecosystems. According to CryptoRank data, PancakeSwap is the third-largest DEX, still retaining $10B in weekly trading volumes. Total spot volume went above $98B, though Ethereum-based trading saw some outflows due to prohibitive gas prices.  Raydium growth goes ahead of Uniswap Raydium and Uniswap are already head to head when it comes to short-term daily volumes. The Solana DEX carried $4.5B in trades, while Uniswap had a daily turnover of $4.9B. Both of the DEX take up a close slice of the market, with around 26% for Uniswap and 23% for Raydium. The slow shift to the Solana ecosystem follows the slide in DEX activity for Ethereum-based tokens. Meme tokens on Uniswap still exist, but are more expensive to trade.  Raydium achieved a 128% growth of volumes in the past 24 hours, showing it was resilient to other market trends. Most of the activity on Raydium came from the top 10 hottest meme tokens, with Peanut the Squirrel (PNUT) having the highest trading volume. Uniswap expanded its daily volumes by 80% only, despite relying on several highly active networks. Uniswap uses Base for its growth, while Ethereum’s swaps became prohibitive…

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Filed under: News - @ November 15, 2024 1:23 am