Solana's price action has been consistent, with the cryptocurrency hitting a key 50% retracement level. The Solana ecosystem, particularly its decentralized exchange (DEX) Raydium, has been experiencing rapid growth and has surpassed Uniswap in monthly trading volume for two consecutive months. Raydium allows users to create liquidity pools, provide liquidity, and swap tokens, with users earning fees through trading activities. Raydium's native token, RAY, adds an incentive layer. Raydium has become the leader in Solana's DEX ecosystem, holding over 60% of the daily DEX volume. The surge in memecoin trading has contributed to Raydium's growth, with memecoin trading accounting for 65% of Raydium's overall volume. Raydium's collaboration with Pump.fun, a memecoin launchpad, has further driven volume and attracted new traders. Solana's DEX volume has consistently surpassed Ethereum's, mainly due to Solana's low transaction costs and high throughput.



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