Raydium token gains 6.6% as most of the crypto market slips

What happened

The Raydium token gains 6.6% in 24 hours on a down day for crypto, CoinGecko data shows. $RAY traded at $2.09 as of 12:39 UTC (8:39 a.m. ET) on Oct. 3. That is the top of its 24-hour range of $1.85 to $2.09.

The rise stands out. Over the same day, Bitcoin ($BTC) fell 2.2% and Ether ($ETH) lost 2.6%, according to LiveCoinWatch. Solana ($SOL) slipped 2.3% on CoinGecko.

Most large Solana DeFi tokens fell too. Jito ($JTO) dropped 5.1% and Backpack Exchange ($BP) lost 5.3%.

The gain adds to a long run. $RAY is up 156% over 30 days and 2.9% over seven days. It still trades about 88% below its record high of $16.83 from September 2021.

Why it moved

No single cause is confirmed. The climb came in steady steps rather than one jump. On Binance’s RAY/USDT pair, hourly closes bottomed at $1.85 at 21:00 UTC on Oct. 2. They then rose through the night and the European morning.

Raydium’s own activity was calm. DefiLlama shows Raydium AMM held $1.35 billion in deposits, down 1.2% in a day. It handled $208 million in trades over 24 hours, fourth on DefiLlama’s list of Solana exchanges.

Who’s buying and selling

The biggest $RAY pool is a RAY/SOL pair on Raydium with $3.98 million in liquidity. DexScreener counted 23,194 buys against 18,404 sells there over 24 hours.

GeckoTerminal showed the same lean on the RAY/USDC pool: 3,444 buys and 2,250 sells, with $6.93 million in liquidity. Trade counts show how many orders went each way, not how large they were.

Total $RAY trading reached $60.1 million over 24 hours on CoinGecko. The token’s market value stood at $563 million.

What to watch next

• Whether $RAY holds near $2.09 if $BTC and $SOL keep sliding.
• Whether buy orders keep outnumbering sells on the main pools.
• Any Raydium announcement that would explain the move.

Bottom line: $RAY is rising against a falling market, with more buyers than sellers, but no clear cause is confirmed yet.

Price data: CoinGecko.

Sources

1. CoinGecko — Raydium (RAY): price, 24h and 7d change, 24h range, 30-day change, record high, volume and market cap (12:39–12:41 UTC, Oct. 3)
2. DefiLlama — Raydium AMM: deposits and 1-day change (12:41 UTC)
3. DefiLlama — Solana DEX volume: 24h volume by exchange (12:41 UTC)
4. DexScreener — RAY/SOL pool: liquidity, 24h buys and sells (12:41 UTC)
5. GeckoTerminal — RAY/USDC pool: liquidity, 24h buys and sells (12:41 UTC)
6. Binance — RAY/USDT: hourly closes (12:41 UTC)
7. LiveCoinWatch: Bitcoin and Ether 24h change (12:41 UTC)

Not financial advice.