Raydium (RAY) has become the most active DEX in October, surpassing Uniswap due to a surge in meme token trading on Solana. The platform recorded over 90 million active wallets in 30 days, far exceeding Uniswap’s 13.9 million.
Meme Tokens Boost Raydium’s Popularity
Fueled by platforms like Pump.fun, Raydium now handles 60% of Solana’s DEX activity, reflecting Solana’s rising appeal for meme tokens and decentralized trading.
Solana’s Expanding DEX Market
Solana now captures 43–48% of daily DEX traffic, with Raydium driving growth through meme tokens like WIF and POPCAT, recently securing $3.14 million in fees and locking in $1.4 billion in value.
RAY Token on the Rise
This surge has pushed RAY to a one-year high, with open interest climbing to $5.69 million. As Raydium grows, it reinforces Solana’s position as a decentralized trading hub.