Raydium’s Memecoin Trading Dominance Grows Despite Market Decline
Raydium’s control over Solana-based memecoin trading has surged to 83% in the past three months. This growth comes as the overall memecoin market activity has declined. According to the Memecoins in Q1 2025 report by CEX.io,Raydium’s trading volume has increased despite the market’s contraction.
Memecoins were popular in January due to high-profile political launches like TRUMP and MELANIA tokens. at their peak,they accounted for 11% of total crypto trading volume. Though, by april 1, the memecoin market cap had dropped by 58% from its January high, wiht their share of trading volume falling to just 4%.
Raydium’s share of memecoin trading volume has risen from 77% to 83% in Q1 2025. This growth is linked to its unofficial partnership with Pump.fun, which creates over 50% of SPL tokens daily. Once these memecoins reach a $69K market cap, they are automatically listed on Raydium.
However, Pump.fun has launched its own DEX for memecoins, which could impact Raydium’s position. Raydium’s past revenue came from memecoins migrating from Pump.fun.experts say the success of launchpads like Pump.fun is driven by community and lore, which Raydium may struggle to replicate.
While Raydium’s share of memecoin trading volume increased in Q1, much of this growth was fueled by Pump.fun token migration. The future of Raydium’s trading volume will depend on the success of its LaunchLab platform.
