Solana-based decentralized exchange (DEX) Raydium has outperformed stablecoin giant Tether in terms of daily fee generation.
According to data from DeFiLlama, Raydium generated more than $15 million in fees in the last 24 hours, surpassing Tether’s $13 million in the same period.
Over the past week, Raydium’s fee revenue reached an impressive $81.2 million, positioning it as the second highest revenue source in the DeFi ecosystem. Tether retained the top spot in terms of weekly fee generation.
Market observers attribute this growth to the resurgence of the memecoin trend, which has fueled increased trading volumes on the Solana-based platform. Notably, Raydium’s volume outperformed Uniswap, the leading DEX operating on nearly 20 networks, including Ethereum and layer 2 solutions like Base and Arbitrum.
Over the course of the week, Raydium processed a staggering $30 billion in transaction volume, far surpassing Uniswap’s $19 billion.
This milestone illustrates the growing popularity of Solana-based platforms, as traders look for fast, low-cost alternatives.
