$SOL DEX Raydium Processes Record Daily Volume

The Solana-based decentralized exchange is among the primary beneficiaries of the 'memecoin supercycle.'

Following yet another week of memecoin madness - this time spearheaded by an AI agent meta - the highest ever volume day arrived for a Solana decentralized exchange, namely DEX $RAY .

Raydium processed a record $1.8 billion of transactions on Oct. 23, 10% more than its previous all-time high of $1.65 billion in Dec. 2023, and a 1000% increase over its most recent low of $153 million on Sept. 14.

$RAY volume is now up 24% over the last week and is just 11% shy of flipping Uniswap for cumulative weekly volume.

This volume growth is largely attributable to the success of the Solana memecoin space, as the majority of its most successful tokens have launched via the memecoin launchpad called Pump.Fun. As tokens fill the Pump.Fun native bonding curve, the liquidity is subsequently burnt to Raydium, making it the default DEX for Pump.Fun tokens in their earliest stages.

Due to this, the RAY token has also jumped sharply, up 86% over the last 30 days, according to.

Daniel Cheung from Syncracy Capital added: "Protocol just did a record $16.2bln of weekly volume here - for context, Uniswap was doing ~$20bln of weekly volume at the peak of DeFi summer last cycle. Volumes likely only further accelerate from here as Solana continues to gain traction over the AI + AI agent Meta and Bitcoin on the verge of new highs.