Raydium Emerges as the Fastest-Growing dApp by Unique Active Addresses

merged as the fastest-growing decentralized application (dApp) by unique active addresses.

Raydium, a decentralized application (dApp), has seen the fastest growth in unique active addresses, ranking first among other dApps over the past 30 days, according to Coin98 Analytics. It is followed by CARV and Uniswap, with 23 million and 7.2 million active addresses, respectively.

The ranking of dApps by unique active addresses for the month. Source: Coin98 Analytics

Raydium is a decentralized exchange (DEX) operating on Solana (SOL). Over the past 30 days, it has become one of the most popular dApps.

The growth in Raydium’s unique active addresses may be attributed to the popularity of Pump.Fun, a platform for launching meme coins on Solana.

These meme coins tend to have high volatility on decentralized exchanges, partly because many of them are not listed on centralized exchanges (CEX).

As a result, traders often turn to DEXs to trade these meme coins. Since Pump.Fun is part of the Solana ecosystem, like Raydium, this gives Raydium an edge over other exchanges.

The Growing Popularity of Raydium and the Rise of Pump.Fun in the Crypto Space

According to CoinGecko, Fwog (FWOG) is the largest meme coin launched on Pump.Fun, with a market capitalization of $75.7 million.

The ranking of meme coins on Pump.Fun by market capitalization. Source: CoinGecko

Raydium is the primary crypto exchange for FWOG, with a trading volume of $4.3 million. This accounts for 34.47% of the coin’s total trading volume. The most popular trading pair for FWOG is Solana, which is common among most Pump.Fun meme coins.

The ranking of crypto exchanges by trading volume of FWOG. Source: Coin98 Analytics

It is also worth noting that the second-largest decentralized application by unique active addresses is the CARV protocol. The CARV is a modular data layer designed for the GameFi and artificial intelligence (AI) sectors.

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