Raydium Price Up Over 16% in a Day, Leading the Crypto Market Growth

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Key Takeaways

  • Raydium's price surged from $2.24 to $3.48 within a day.
  • Kraken Pro introduced Raydium futures trading on October 25.
  • Raydium has become the #3 DEX by trading volume.

Raydium (RAY) is now priced above $3.45, marking a 16.8% increase over the last 24 hours. 

It’s noteworthy that the other top growth leaders, Aerodrome Finance (AERO) and Jupiter (JUP), along with Raydium, are all decentralized exchanges (DEXs) operating on the Solana (SOL) blockchain.

This means the top three tokens by 24-hour growth are all from the Solana ecosystem, highlighting a strong performance trend within Solana-based assets.

Token ranking by 24-hour growth
Token ranking by 24-hour growth | Source: CoinGecko

What’s Driving Raydium’s Price Surge?

According to CoinGecko, Raydium’s price has shown steady growth over the past week, rising from $2.24 to $3.48, achieving a 57.7% gain.

One likely factor contributing to RAY’s rise is Kraken Pro’s addition of RAY futures trading on October 25, offering new trading avenues for the token.

Additionally, Raydium’s October 23 updates improved swap speeds and liquidity.

Raydium Ranks Among the Top 3 DEXs by Trading Volume

Raydium is now the third-highest-ranked DEX by daily trading volume. It’s also a top-five decentralized finance (DeFi) protocol on Solana.

According to DeFiLlama, Raydium ranks 5th in total value locked (TVL) with $2.62 million, showing a 29.31% increase over the last 30 days.

Top DeFi protocols on Solana
Top DeFi protocols on Solana | Source: DeFiLlama

Raydium’s trading activity is surging compared to other DEXs.

According to CoinGecko, Raydium (CLMM) and Raydium now hold the 3rd and 4th spots in DEX trading volumes, reaching $366.5 million and $358.3 million, respectively.

DEX ranking by 24-hour trading volume
DEX ranking by 24-hour trading volume | Source: CoinGecko