Raydium, the largest decentralized exchange on Solana, recorded its highest weekly revenue since mid-2025 as trading in tokenized stocks replaced memecoins as the main growth catalyst. Holders revenue reached $4.43 million over 30 days, including $1.19 million in the latest seven-day period, while total protocol revenue rose to $6.94 million, its highest level since summer 2025. The increase followed Raydium’s September 5, 2026, integration of StonkFun through LaunchLab, which cut token-deployment costs from 0.29 SOL to 0.03 SOL, or nearly 90%. Tokenized equities linked to companies including Boeing and Roblox then generated meaningful pool activity. Daily protocol revenue reached nearly $440,000 on September 6, when RAY buybacks totaled $640,788, the largest daily figure since February 2025. RAY gained about 90% in a week to roughly $2.01, while its market capitalization approached $543 million. Tokenized-asset trading volume reached $2.09 billion in the second quarter of 2026, although the model faces regulatory uncertainty because synthetic stock tokens could be treated as securities in some jurisdictions.