According to a report published by Messari, the monthly trading volume of decentralized exchange (DEX) Raydium surpassed Uniswap for the second consecutive month. In November, the monthly trading volume of Solana's native platform Raydium was about 30% higher than that of Uniswap, or about $30 billion. Messari reports that Raydium's "success is largely due to its dominance in the Solana ecosystem," adding that DEXs continue to account for more than 60% of daily DEX trading volume on the Layer 1 blockchain network, and memecoin transactions have become an important driver of Raydium's trading volume. Memecoin accounted for 65% of Raydium's monthly trading volume in November, a record high.