Raydium’s Dominance Sparks RAY’s New ATH: What You Need to Know!

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  • Raydium emerged as the top Solana DEX with a strong lead in network fees and revenue
  • RAY climbed to hit new ATH as market excitement made a comeback on the charts

In the Solana world, there’s been a fresh wave of buzz, and Raydium continues to be the go-to choice for users. This indicates that Raydium has maintained its crown as the leading decentralized exchange on Solana, a position it held last year when it reigned supreme among Solana DEXs.

Over the past year, Raydium has consistently held its position as the leading Decentralized Exchange (DEX) within the Solana network. This dominance is clearly seen when considering the fees accumulated during this timeframe. In fact, it accounted for approximately 80% of all DEX fee earnings on Solana.

Based on DeFiLlama’s data, Raydium accumulated a staggering $751.16 million in fees over the past year. In comparison, its annual revenue amounted to approximately $53 million. It’s worth noting that Orca trailed closely behind as the platform with the second highest fees, raking in about $43.1 million within the same period.

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Over the past year, it has been clearly evident that Raydium stood out as the most favored decentralized exchange (DEX) among all Solana-based DEXs, owing to its robust performance. To this day, the network continues to demonstrate high levels of activity, particularly in response to the recent market developments.

Raydium’s locked total value significantly increased during the past 12 months, starting from around $164.16 million at the beginning of 2024. Notably, it recently achieved a new all-time high of approximately $2.84 billion within the last 24 hours.

Raydium DEX volume spikes alongside demand for RAY

Raydium’s TVL (Total Value Locked) growth has been paired with substantial daily trading volumes since September of the previous year. To elaborate on the trading volume, the Decentralized Exchange (DEX) recently experienced a surge to reach a volume of $4.18 billion – a level not seen in 7 weeks. Intriguingly, the daily volume increased by more than 248% within the past day alone.

The surge in volume of the TRUMP memecoin was primarily linked to an increase in its demand upon launch, which in turn sparked a strong interest in the RAY token. Ever since January 13th, the RAY token has been on a steady rise and peaked at a record high of $6.88 – a new all-time high (ATH).

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At the current moment, RAY hadn’t reached a point where it was excessively bought, suggesting there might be further room for exploration of its value in the market.

As a crypto investor, I’ve noticed that RAY’s performance appears closely tied to the activity on the Solana network. If this network keeps up its strong momentum in the upcoming months, it’s reasonable to expect increased demand for the RAY token.

At the moment of my observation, RAY held a market capitalization of approximately $1.96 billion. The circulating supply was relatively low at 290.88 million tokens. The organic demand for this asset has recently increased, which could possibly attract more speculative investments in the forthcoming months. This trend underscores its promising potential growth.

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2025-01-19 10:16