Raydium's Derivatives Trading Volume Reaches $100 Million Daily

According to Odaily, Raydium, a prominent platform within the Solana ecosystem, has seen its derivatives contract trading volume reach $100 million daily just weeks after launch. These contracts allow cryptocurrency traders to speculate on price fluctuations without holding the actual tokens. Raydium has quickly become the third most popular perpetual contract trading platform on Solana, following Jupiter and Drift. Despite being in its early stages, Raydium's growth remains robust, with no marketing funds yet allocated for the officially unreleased trading tool. InfraRAY, a core contributor to the project, emphasized the enduring influence of the Raydium brand. Interestingly, most traders using Raydium's derivatives platform access its services through trading aggregators rather than visiting its website directly. These aggregators distribute orders across multiple venues, potentially reducing Raydium's direct activity and weakening its relationship with traders. InfraRAY noted that while Raydium excels in market-making, establishing connections with takers can amplify network effects. Additionally, Raydium's perpetual contract trading is supported by Orderly Network, which facilitates trading across multiple blockchains on a unified order book. Solana's perpetual contract traders now account for 25% of Orderly's total trading volume. Ran Yi, the CEO, stated that among the numerous projects offering Orderly-supported perpetual contract trading, daily trading volumes range between $200 million and $400 million.