RAY Price Rally Continues with New Revenue Milestone and TradFi Push
Raydium (RAY) has surged over 14% in the past 24 hours to trade at $3.40, riding a wave of strong ecosystem growth and rising protocol revenues.
The Solana-based DEX now boasts a market cap of $913.5 million and over $311 million in daily trading volume, signaling renewed trader confidence.
LaunchLab Becomes Key Growth Engine
Raydium’s new memecoin launchpad, LaunchLab, has quickly become a major revenue driver. On August 9, it generated $900,000 in daily fees—surpassing swap revenue for the first time. Of these fees, 12% are used for daily RAY buybacks worth around $110,000, offering an annualized yield of 6% at current prices. This buyback mechanism is reducing circulating supply while reinforcing confidence in the protocol’s profitability. The momentum has been further boosted by BonkFun tokens—representing 44% of the Solana memecoin market—migrating to Raydium pools.
xStocks Alliance Brings TradFi Liquidity
In July, Raydium became the main liquidity provider for xStocks’ tokenized equities, including $TSLAx and $SPYx. This move brings traditional finance exposure into Raydium’s ecosystem, with liquidity providers earning up to $14,000 in weekly RAY rewards. Solana currently processes 95% of tokenized stock trades, giving Raydium a unique position in the $2.1 billion tokenized equity niche. The upcoming Firedancer upgrade in Q3 2025 could further improve trading speeds and capacity.
Technical Picture Signals Bullish Continuation
RAY’s breakout above its 200-day SMA at $2.99 and the 50% Fibonacci retracement level at $2.98 has confirmed bullish momentum. The RSI is holding at 63.1, just below overbought territory, while the MACD remains positive.
Current resistance lies at $3.82, the 127.2% Fibonacci extension, with support at $3.26. However, relatively thin liquidity compared to competitors could still cause higher volatility.
What’s Next for RAY?
Investors will be watching whether LaunchLab can maintain its 60% fee growth rate through Q3 despite competition from Pump.fun. If momentum continues and adoption for xStocks’ ETFs rises, RAY could push toward the next technical targets, further cementing its role as a major player in Solana’s DeFi expansion.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
