Raydium Price Soars Amid Network Growth and Token Launches
The Raydium token (RAY) is on a tear, with its price rising nearly 9% on Thursday and extending its 41% rally from Sunday. The Solana-based Decentralized Exchange (DEX) has seen a surge in network activity and growth amid new token launches.
According to DeFiLlama data, SOL staked on Raydium reached a new high of 470,817 tokens on Wednesday, suggesting fresh inflows. At the same time, the active addresses and transactions stood at 162,085 users and 3.1 million, respectively, hitting a monthly high.
Raydium's network activity shows early signs of renewed user demand amid the launch of more than 15 tokenized US equities, including Boeing, Costco, Reddit, Lulumemon, and Roblox. This follows the recent launch of the Bittensor (TAO) and Dogecoin (DOGE) pairs, reflecting the expansion of DeFi offerings.
The technical outlook for Raydium signals a potential upside toward $1.50 as momentum holds firm despite overbought conditions.