Memecoin revival drives Solana DEX Raydium past Tether in fees Solana-based decentralized exchange (DEX) Raydium has outperformed stablecoin giant Tether in daily fee generation.
According to data from DeFiLlama, Raydium generated over $15 million in fees in the last 24 hours, surpassing Tether’s $13 million during the same period.
Over the past week, Raydium’s fee revenue reached an impressive $81.2 million, positioning it as the second-highest earner in the DeFi ecosystem. Tether retained the top spot in 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 has outshined Uniswap, the leading DEX operating across nearly 20 networks, including Ethereum and layer-2 solutions like Base and Arbitrum.
During the week, Raydium handled a staggering $30 billion in trading volume, far exceeding Uniswap’s $19 billion.
This milestone illustrates the rising popularity of Solana-based platforms as traders seek high-speed and low-cost alternatives.
Analyst 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Uniswap
$9.06346
Since its inception, the Uniswap Protocol (“Uniswap”) has served as a trustless and highly decentralized financial infrastructure.
Ethereum
$3,117.81
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Tether Limited
Tether Limited is the company that introduced Tether (USD₮ or USDT), an asset-backed cryptocurrency stablecoin, in 2014.
Uniswap Labs
Uniswap Labs is a corporation that builds products on top of the Uniswap protocol to make it simple and easy to use. Its headquarters is in New York, New York, and it was created in 2018.
