TVL Hits $1.34 Billion as Raydium Extends Its Lead on Solana @Raydium, the leading decentralized exchange on @Solana, has seen its total value locked (TVL) climb to $1.344 billion, a rise of
@Raydium, the leading decentralized exchange on @Solana, has seen its total value locked (TVL) climb to $1.344 billion, a rise of more than 20% over the past month. According to data from DefiLlama, TVL grew from roughly $800 million in early August to its current level, cementing Raydium's position as the dominant liquidity venue on Solana.
TVL rose from $859 million to $1.34 billion over the quarter, a 56% increase that closely tracks SOL's own price appreciation over the same period. The milestone arrives on the back of a broader uptick in Solana DeFi activity, with Raydium continuing to capture the majority of new token trading volume across the network.
A wave of new asset listings has played a direct role in the TVL expansion. Raydium added nearly 40 tokens over the past month, including high-profile names such as @Shibtoken$SHIB, @quantnetwork$QNT, and @dogecoin$DOGE. Raydium serves as the primary venue for new token listings and the default liquidity layer for thousands of Solana token pairs.
Over the past 30 days, Raydium generated $46.28 million in fees, of which $7.75 million was protocol revenue. That fee generation underlines how the liquidity growth is translating into real economic activity, not just headline numbers.
Adjusted volume for the most recent quarter reached $16.1 billion once wash trading is removed, up 17% from the prior quarter, with fees more than tripling to $57.1 million. A quarterly analysis from Pine Analytics noted that 62% of quarterly volume came in September alone, pointing to a sharp acceleration in activity late in the period.
Raydium's growing role across Solana's DeFi stack, from memecoin launches to tokenized equities, has helped it attract liquidity from an increasingly diverse set of market participants. With TVL now firmly above the $1.3 billion mark and fee generation running at pace, the protocol appears well positioned heading into the final quarter of 2026.
Sources:DefiLlama: Raydium TVL and Protocol MetricsPine Analytics: Raydium Quarterly Report Q3 2026
