Raydium Sees $100 Million Daily Volume in Solana’s Perpetual Market
Raydium, a decentralized crypto trading engine, is entering Solana's multibillion-dollar perpetuals market, achieving $100 million in daily trading volume shortly after its launch.
Key points include:
- Raydium ranks as Solana's third most popular platform for trading perpetual contracts, following Jupiter and Drift.
- The project has not invested in marketing despite rapid adoption.
- Traders typically access Raydium through aggregators rather than its website, limiting direct engagement with users.
- Orderly Network supports Raydium’s trading, allowing cross-chain trades on a unified order book, contributing to 25% of Orderly's total volume.
- Raydium plans to officially launch its service soon and increase marketing efforts.
- Current volumes are significantly lower than competitors like Jupiter and Drift, which see nearly $2 billion and double Raydium’s volume, respectively.
- Raydium offers a wider range of assets for trading and can quickly list new contracts through Orderly.
InfraRAY expects growth in the Solana-based perpetuals market, indicating potential for more competition and innovation.