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Crypto

Raydium RAY Token Surges 24% Amid Solana Network Activity Spike

Guavy AI Editorial Team
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SOL RAY
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Raydium's RAY token has surged 24% in 24 hours, with daily trading volume reaching $173.8M and accounting for 77% of its market cap.

The automated market maker, built on Solana (SOL), uses a central order book model that allows liquidity providers to earn fees from both AMM swaps and limit-order activity.

Raydium also functions as a launchpad for new Solana tokens through its AcceleRaytor program, which sits among the top trading venues on Solana by total value locked.

The token's price has not recovered to 2024 highs, leaving room for potential upside if Solana DeFi volumes remain elevated.

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