Decentralized crypto trading engine Raydium is gaining traction in Solana's multibillion dollar perpetuals market. Despite being relatively new, Raydium's perps trading already has a daily trading volume of $100 million, making it Solana's third most popular platform for trading perps. The growth can be attributed to Raydium's automated market maker (AMM) setup and its partnership with Orderly Network, which allows for smooth cross-chain trading. While Raydium still has a smaller market share compared to top competitors like Jupiter and Drift, it plans to capture new markets and compete with larger protocols through its wider range of assets and fast listing process.



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