According to online reports, Messari released Raydium's status report for the first quarter of 2025. The report showed that its average daily trading volume reached US$3.6 billion, a month-on-month increase of 12.7%. Among them, the trading volume in January hit a record of US$195.8 billion, and the average daily trading volume was US$6.3 billion. This is the fourth consecutive quarter that Raydium has been the leader in Solana's daily DEX trading volume. In addition, Raydium bought back a record 15.4 million RAY through negotiated fees, accounting for 2.8% of the largest supply. In order to improve the protocol's functionality, Raydium launched LaunchLab in April to support free token issuance, and released a public beta version of perpetual futures trading in January. Raydium Perps has an average daily trading volume of US$21.7 million, offers gas-free trading and supports up to 50 times leverage.