Raydium edges past PumpFun in 24-hour DEX volume

Raydium just won a round in Solana’s most closely watched exchange rivalry. On October 7, 2026, the protocol logged $192.2 million in 24-hour trading volume, slipping past PumpFun’s PumpSwap, which recorded $185.0 million. The gap was $7.2 million. In a market that moves hundreds of millions a day, that is less a knockout than a photo finish. The numbers behind the flip The daily volume jump pushed Raydium to eighth place in the global decentralized exchange rankings. That is one spot higher than the ninth position it held before. The monthly picture is less flattering for Raydium. In September 2026, it captured 12.2% of Solana DEX volume, while PumpFun led the pack with 18.6%. Context matters on the PumpFun side too. The platform hit a peak of more than $1.7 billion in trading volume in a single day during July 2026. The $185.0 million it posted on October 7 sits far below that high-water mark. How the rivalry started For a long stretch, PumpFun and Raydium were partners of convenience. PumpFun was the place memecoins were born, and Raydium was often where they went to trade once they grew up. That changed in early 2025, when PumpFun launched PumpSwap, its own automated market mak...