Raydium Token Surges 24% Amid Solana On-Chain Activity Spike

Raydium's RAY token has surged by 24.5% in the past 24 hours, reaching a daily trading volume of $173.8 million, according to CoinGecko data.

This significant increase in activity comes as Solana's broader on-chain activity also rises, with SOL trading at $85.89, down just 0.6% on the day.

The spike in Raydium's volume suggests active swap flow rather than passive holding, and is likely driven by the launch of new meme tokens on Solana.

Raydium's AcceleRaytor program allows for the launch of new Solana tokens, which can attract significant trading volumes.