Raydium Soars on Solana Rally and Injective Integration

Raydium's price surged by 3.38% over the last 20 hours, driven primarily by Solana's rally and Raydium's role in Injective's new integration on the Solana blockchain.

Solana's ecosystem has been gaining strength, with its native token SOL surging more than 10% in a September rally. This has also boosted other Solana-based tokens, including RAY, which is up about 17.94% over the last 7 days with 24-hour volume around $59.9 million.

The recent move of Raydium's price can be attributed to its role as a key venue for Injective's launch on Solana. As part of this integration, INJ is now trading on Raydium and Meteora, and the token's presence has created new liquidity and trading pairs, which in turn supports the DEX token narrative.

The social narratives around Solana DeFi and MemeFi have also played a significant role in driving the price of RAY. With ongoing chatter about cross-chain liquidity getting real, traders are latching onto Raydium as a leveraged bet on this activity.