Raydium Coin (RAY), a DeFi protocol operating on the Solana blockchain, has seen a significant shakeup in its market performance. Recent whispers indicate potential changes in the strategic direction of
Pump.Fun, a popular platform, and it appears to be testing a new AMM exchange, potentially replacing Raydium's services. RAY's valuation took a hit, with a recorded drop of over
22% and plummeting
66% to find its new critical support level. However, Raydium is getting noticed as a potential major player in the crypto market. In a growing interest in meme coins, RAY's trading volume spiked and surprisingly outpaced Uniswap's monthly volumes, establishing
Raydium as Solana's AMM king and increasingly becoming Solana's leading decentralized exchange (DEX). The launch of Trump's Memecoin even gave a tangible lift to Solana DEX tokens including Raydium, along with the explosive growth of other meme coins. Speculations are high about Raydium's price potentially soaring over 100%, even touching $100 mark. The platform recently introduced innovative features like 'Burn & Earn' for liquidity locking, listing on WOO X, and launching Perpetual Futures Trading with Orderly Network. Ross Ulbricht-linked crypto wallets reportedly lost their value over Raydium, and the successful ICO by Best Wallet resulted in a
50% surge for RAY. Although challenges remain, with RAY's resistance being tested after reaching a 1,120-Day high, the DeFi protocol demonstrates impressive resilience.
Raydium Coin News Analytics from Mon, 22 Jul 2024 07:00:00 GMT to Tue, 25 Feb 2025 15:00:00 GMT -
Rating -5
- Innovation 6
- Information 7
- Rumor -2
