CandleFocus

RAY forms cup and handle as Raydium’s DEX volume spikes

Author: Content Editor
The Raydium (RAY) token has experienced a significant rise in value, reaching its highest point since July 21st and increasing by 115% from its September lows. It now has a market cap of over $674 million and a fully diluted valuation of $1.41 billion. Raydium has also seen impressive growth in its decentralized exchange, becoming the largest DEX network in the Solana ecosystem. It has handled $8.17 billion in transactions over the past seven days and has over $1.8 billion in total value locked, making it the 16th largest DEX in the industry. Raydium's popularity is driven by the rise of Solana's meme coins, as well as its offering of thousands of tokens and low transaction fees. Technical analysis suggests that the RAY token is likely to continue rising, with a target resistance point of $3.29, 27% above its current level.

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