In a tale as old as time, Raydium (RAY) has ascended like a phoenix from the ashes of 2023, soaring to heights unseen since the cold December of yesteryear. The network’s growth is a veritable explosion!
RAY has vanquished the $8 barrier, triumphing over its past with an 8,000% rise from the depths of its 2023 despair. 📈
What fuels this rally? Meme coins, of course! The likes of Official Trump (TRUMP) and Melania (MELANIA) have driven the network volume to new heights, proving that in the crypto world, humor and politics are as valuable as gold. 😂
DeFi Llama whispers tales of Raydium processing a record $42 billion in volume, leaving centralized exchanges in the dust. It’s a new record, shattering the previous $27 billion milestone of November past. 📉
Raydium’s 30-day trading volume nears the $100 billion mark, outpacing Uniswap’s $90 billion and PancakeSwap’s $62 billion. And yet, Raydium dances solely on the Solana stage, while its competitors prance across multiple chains. 🕺
Raydium now turns its gaze to the juicy realm of perpetual futures. With futures volume at over $108 billion, Hyperliquid and Jupiter reign supreme. But watch out, Raydium is coming for the crown. 👑
Raydium aims to use its spot market charm to conquer the futures industry. Its futures exchange, powered by the Orderly Network, is currently in public beta, poised to make a grand entrance later this year. 🚀
And as if that weren’t enough, Raydium has been on a token buyback spree, repurchasing 1.6 billion tokens. Now, 10% of the token supply is nestled safely in buybacks. A cozy nest, indeed. 🐣
The daily chart paints a picture of RAY’s relentless ascent. It has conquered the $6.50 resistance, a peak from the November of last year. 🏔️
Raydium has also danced above the Murrey Math Lines’ pivot reverse point at $7.8125. The ascending trendline since October 9 has been shattered. 💥
With oscillators and the Relative Strength Index on the rise, the target is set at $10. But beware, a fall below $6.50 could turn this bull into a bear. 🐻
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2025-01-22 18:12