Raydium (RAY), a decentralized exchange (DEX) on the
Solana network, is emerging as a strong contender with consistent growth in trading volumes and fee revenues. Its new
Burn-and-Earn feature is attracting coin creators to lock liquidity. Despite the wave of memecoins, Raydium's price has demonstrated strong performance outpacing even Bitcoin in the 2024 surge. The gathering momentum leads experts to predict the possibility of a potential
double-digit rally and a 200% monthly surge.
However, it has experienced a misfire with its
meme token launch. The DEX has surpassed
Ethereum in daily revenue and outperformed
Uniswap in monthly DEX volumes. It also recently attracted
Solana whales for the trade of
1900Rugrat token. The dominance of Raydium in the
Solana DeFi sphere has been amplified with the drop in gas fees, driven by a shift in meme coin activity.
Raydium has recently integrated
MoonPay for instant Solana access and will be listed on Bithumb. Apart from that, despite the recent surge, some crypto traders are investing in the likes of
BlockDAG over Raydium, seeing greater potential returns. There are also concerns about a potential plunge in Raydium's price, calling for caution.
Raydium Coin News Analytics from Wed, 17 Jan 2024 08:00:00 GMT to Mon, 06 Jan 2025 22:12:00 GMT -
Rating 6
- Innovation 7
- Information 8
- Rumor 5
