Raydium (RAY) has surged over 14% in the past 24 hours to trade at $3.40, riding a wave of strong ecosystem growth and rising protocol revenues.
The Solana-based DEX now boasts a market cap of $913.5 million and over $311 million in daily trading volume, signaling renewed trader confidence.
LaunchLab Becomes Key Growth Engine
Raydium’s new memecoin launchpad, LaunchLab, has quickly become a major revenue driver. On August 9, it generated $900,000 in daily fees—surpassing swap revenue for the first time. Of these fees, 12% are used for daily RAY buybacks worth around $110,000, offering an annualized yield of 6% at current prices. This buyback mechanism is reducing circulating supply while reinforcing confidence in the protocol’s profitability. The momentum has been further boosted by BonkFun tokens—representing 44% of the Solana memecoin market—migrating to Raydium pools.
xStocks Alliance Brings TradFi Liquidity
In July, Raydium became the main liquidity provider for xStocks’ tokenized equities, including $TSLAx and $SPYx. This move brings traditional finance exposure into Raydium’s ecosystem, with liquidity providers earning up to $14,000 in weekly RAY rewards. Solana currently processes 95% of tokenized stock trades, giving Raydium a unique position in the $2.1 billion tokenized equity niche. The upcoming Firedancer upgrade in Q3 2025 could further improve trading speeds and capacity.
Technical Picture Signals Bullish Continuation
RAY’s breakout above its 200-day SMA at $2.99 and the 50% Fibonacci retracement level at $2.98 has confirmed bullish momentum. The RSI is holding at 63.1, just below overbought territory, while the MACD remains positive.
Current resistance lies at $3.82, the 127.2% Fibonacci extension, with support at $3.26. However, relatively thin liquidity compared to competitors could still cause higher volatility.
What’s Next for RAY?
Investors will be watching whether LaunchLab can maintain its 60% fee growth rate through Q3 despite competition from Pump.fun. If momentum continues and adoption for xStocks’ ETFs rises, RAY could push toward the next technical targets, further cementing its role as a major player in Solana’s DeFi expansion.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/ray-price-rally-continues-with-new-revenue-milestone-and-tradfi-push/