Raydium Dominates the DEX Market
The Solana-based decentralized exchange Raydium has overtaken Uniswap in trading volume, securing 27.1% of the market and claiming the top spot.
According to The Block’s analytics, Uniswap’s market share has dropped from 34.5% to 22% over the past month. This decline has been driven by community frustration with the Ethereum Foundation, uncertainty around Ethereum’s scalability, and the rise of faster, lower-fee competitors.
While Uniswap struggles, Raydium has surged, increasing its market share from 18.8% to 27.1%—now the largest DEX by volume. A major factor behind this growth is the influx of liquidity following the launch of TRUMP memecoin, the official token of former U.S. President Donald Trump, which is already being accepted by online stores selling licensed Trump merchandise.
Beyond the fierce competition between Raydium and Uniswap, PancakeSwap, built on BNB Chain, remains a solid contender with around 17% market share. The platform continues to attract Binance users and BNB Chain supporters, yet unlike Raydium, it has maintained its position rather than experiencing notable growth.
Related: The Trump Meme Coin — Politics Meets Crypto
Solana’s network activity is surging, processing five times more transactions than Ethereum, even without factoring in Layer 2 solutions. If this trend persists, Solana could establish itself as the top blockchain for decentralized exchanges and potentially lead the Web3 development space.
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