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.
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.
$RAY @RaydiumProtocol perpetual futures is now live and ready to trade!
Why choose Kraken Pro futures:
☑️ 30+ collateral options
☑️ Diverse profit payouts
☑️ 230+ marketsOpen RAY perp: https://t.co/bgRxlqp6AM
*Geo restrictions apply pic.twitter.com/qJDUSeQNTT
— Kraken Pro (@krakenpro) October 24, 2024
Additionally, Raydium’s October 23 updates improved swap speeds and liquidity.
1/
Two big Burn & Earn updates!🔥1) CPMM support🛠️
Teams can now lock liquidity for both CP & CL pools while trading fees remain fully claimable!https://t.co/R9kG9uGlST2) Fee Key🗝️✨
A transferable NFT now enables fees to be claimed for a locked position.More on Fee Keys👇
— Raydium (@RaydiumProtocol) October 23, 2024
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.
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.