From memes to utility? The user trend is shifting.
Chart 1 (protocol and chain deployed) shows how Raydium led daily active users at the start of 2025, peaking at over 4.5M Daily Active Users during Solana’s meme coin frenzy at the beginnign of the year.
But since then, Raydium's usage has steadily declined.
Meanwhile, Uniswap (Base) has been climbing, now matching Raydium in chain-specific activity.
Chart 2 (by protocol only) confirms the broader trend:
Uniswap has reclaimed the top spot in daily users with 785k DAU across chains, suggesting a shift away from short-term speculation toward more established, utility-driven platforms.
It’s early, but the data hints:
The meme cycle may be fading. Utility is catching up.
If you’re into DeFi trends like these, you need to take a look at our dashboard:
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