Raydium, a reputable decentralized exchange (DEX) on the Solana blockchain, has created quite a stir in the cryptocurrency market recently. In partnership with WLFI, Raydium has initiated the launch of USD1 Stablecoin on the
Solana network. Moreover, Elliott Wave Analysis has showcased a triangle breakout for Raydium, indicating a bullish rally in the future.
The native token of Raydium, RAY, saw a bullish surge recently, with prices soaring by 28% after the unveiling of their version of
pump.fun, a launchpad for meme coins. This subsequent increase follows a series of hefty buybacks of the RAY token which drove the value of the coin higher. This new version of pump.fun has not only diversified the offerings but also increased the recorded
DEX trading volume to a significant $200M.
However, not all news was good for Raydium. Despite such positive growth, pump.fun, in turn, has launched its DEX, leading to a slump in Raydium's prices. Additionally,
LaunchLab, a rival to pump.fun, has been debuted but the RAY token saw a significant dip in its value, almost 22%, after allegations of changes in pump.fun.
To counterbalance this negative trend, aggressive buybacks amounting to $196.3M covering 26.4% of the token's supply were executed. Alongside this, Raydium also wrapped up its plans to roll out a competitor to pump.fun which could potentially incite a meme coin war.
Raydium Coin News Analytics from Tue, 22 Oct 2024 07:00:00 GMT to Mon, 01 Sep 2025 09:38:28 GMT -
Rating 2
- Innovation 7
- Information 3
- Rumor -3
