Key Takeaways
- In a single day, the price of raydium jumped from $2.24 to $3.48.
- On October 25, Kraken Pro launched Raydium futures trading.
- Based on trading volume, Raydium is now the third DEX.
With a 16.8% increase in price over the past day, Raydium (RAY) is currently trading above $3.45.
It’s interesting to notice that Raydium, Aerodrome Finance (AERO), Jupiter (JUP), and the other leading growth companies are all decentralized exchanges (DEXs) that use the Solana (SOL) blockchain.
This indicates a strong performance trend within Solana-based assets, as the top three tokens by 24-hour growth are all from the Solana ecosystem.
Why is Raydium’s price increasing?
Raydium’s price has increased steadily during the last week, from $2.24 to $3.48, a gain of 57.7%, according to CoinGecko.
Kraken Pro’s October 25 launch of RAY futures trading, which opened up new trading opportunities for the token, is probably one of the factors driving RAY’s growth.
Raydium is among the top three DEXs based on trade volume
According to daily trading volume, Raydium is currently the third-highest-ranked DEX. On Solana, it is also among the top five decentralized finance (DeFi) protocols.
With $2.62 million, Raydium is ranked fifth in terms of total value locked (TVL) by DeFiLlama, indicating a 29.31% gain over the previous 30 days.
In contrast to other DEXs, Raydium is seeing a surge in trading activity. According to CoinGecko, Raydium (CLMM) and Raydium currently have respective values of $366.5 million and $358.3 million, placing them third and fourth in DEX transaction volumes.
