Raydium, a decentralized exchange (DEX) on the Solana blockchain, is expanding its influence in the ecosystem and beyond. As of June, Raydium accounted for a record 62.8% volume share on Solana, up from 53% the previous month. The DEX has also gained traction outside the Solana ecosystem, ranking as the third-largest DEX by daily trading volume on June 29, with a 10% market share, following Uniswap V3 and PancakeSwap.

Despite the overall DEX trading volume declining for the fourth consecutive month, Raydium has defied this trend. In June, it processed about $800 million worth of trades in a single day, its third-best day on record. The month also marked Raydium's second-best month, with over $13 billion in volume.

The surge in activity on Raydium is partly driven by meme coins, which continue to gain popularity across Solana and Ethereum ecosystems. Data shows that eight out of the top 10 most traded tokens in the last 24 hours are traded on Raydium.