Raydium's Solana DEX Share Rises to 12.2% in September

Raydium's share of trading on Solana decentralized exchanges rose to 12.2% in September from 4.3% in July, while PumpSwap retained a larger share of the monthly market.

PumpSwap, pump.fun's native decentralized exchange, accounted for 18.6% of Solana DEX trading in September. That put it 6.4 percentage points ahead of Raydium for the month. Raydium's gain since July was 7.9 percentage points.

Activity on Raydium's LaunchLab also increased. The platform recorded 156,294 token launches in September, compared with 5,420 in August. LaunchLab starts new tokens on a bonding curve; once a token reaches a set threshold, it moves to a liquidity pool.

The launch count and market shares measure different things. LaunchLab's tally counts tokens launched, while the market shares compare trading across Solana exchanges. Tokens launched through StonkFun generated $2.81 billion in September trading, accounting for 28% of Raydium's volume that month.