PANews reported on December 11 that according to Cointelegraph, according to a Messari report on December 10, the monthly trading volume of Raydium, a decentralized exchange (DEX) in the Solana ecosystem, exceeded Uniswap for the second consecutive month. In November, Raydium's monthly trading volume was about 30% higher than Uniswap, or about $30 billion. Ryan Watkins, co-founder of Syncracy Capital, mentioned in an article on the X platform on November 17 that as early as October, Raydium had defeated Uniswap by a small margin, with a trading volume about 10% higher.

Messari reported that “Raydium’s success is largely due to its dominant position in the Solana ecosystem,” adding that the DEX continues to account for more than 60% of daily DEX trading volume on the Layer 1 blockchain network; in particular, Meme coin trading has become a significant driver of Raydium’s trading volume, with Meme coin accounting for an all-time high of 65% of Raydium’s monthly trading volume in November.”