Raydium pool deposits slip 5% in a week as $RAY trades lower

Less money is sitting in the pools of Raydium ($RAY), a major exchange on Solana ($SOL). Raydium pool deposits stood at $1.14 billion at 21:43 UTC on Tuesday, according to DefiLlama. That is down about 5% from $1.20 billion at the start of Oct. 21.

Raydium’s own data shows a larger base. Its public API reported $1.64 billion in total value locked at 23:47 UTC. The two figures come from different trackers and do not match, so both are shown here.

What happened

DefiLlama’s daily history shows a steady drift lower rather than one sharp drop. Raydium held $1.20 billion at the start of Oct. 21, $1.16 billion at the start of Oct. 24 and $1.13 billion at the start of Oct. 27. All three readings are taken at 00:00 UTC.

The latest reading of $1.14 billion is up 1.0% from the start of Tuesday. So the slide paused today, at least for now. The weekly change is close to the 5.0% drop DefiLlama shows in its own seven-day figure.

Raydium is still one of the largest pools of liquidity in the ecosystem. Its $1.14 billion equals about 19.9% of the $5.73 billion that DefiLlama counts across all Solana apps.

Why it moved

The data does not point to one cause, and we found no Raydium statement that explains the decline. One factor is clear, though. Pool deposits are counted in dollars, so falling token prices shrink them even when no one withdraws.

Token prices did fall this week. $RAY lost between 11.8% and 13.2% over seven days, depending on the tracker: CoinGecko showed -13.2% and CoinPaprika -11.8% at about 23:41 UTC. Pools that hold $RAY, $SOL and other Solana tokens lose dollar value when those tokens slide.

The wider market was calm on Tuesday. Bitcoin ($BTC) traded at $80,846, up 0.6% in 24 hours, according to LiveCoinWatch.

Who’s buying and selling

Trading picked up even as deposits shrank. DefiLlama’s latest 24-hour reading puts Raydium volume at $150.2 million, up 43% from $104.9 million in the 24 hours before (read at 23:46 UTC). Raydium’s own API showed $225.7 million over a rolling 24 hours; the two windows and methods differ.

Over seven days, DefiLlama counts $1.10 billion in Raydium trading volume. Busy pools earn more fees for liquidity providers, which can make deposits more attractive.

In the largest $RAY pool on DexScreener, a $RAY/$SOL pair with $2.2 million in liquidity, buyers made 11,208 trades and sellers 6,947 over 24 hours. Trade counts do not show trade size, so they say little about net flows on their own.

$RAY moved between $1.75 and $1.83 over the past 24 hours on CoinGecko. Its market value stood at $479.4 million, with $26.2 million traded in 24 hours. The token sits 89% below its record of $16.83 from Sept. 12, 2021.

What to watch next

The first test is whether the higher trading volume holds. If it does, fee income could draw liquidity back into Raydium pools.

The second is the daily DefiLlama reading. A close below $1.13 billion, Tuesday’s opening level, would extend the slide. A Raydium statement on fees or pool rewards would also be a key new fact.

Bottom line: Raydium pool deposits slipped about 5% in a week while trading picked up and $RAY stayed under pressure.

Price data: CoinGecko, checked against Jupiter (gap 0.25%).

Sources

• DefiLlama: Raydium TVL history and DEX volume (B+, read 23:46 UTC)
• Raydium API: total value locked and 24-hour volume (A, read 23:47 UTC)
• CoinGecko: Raydium price, range and market value (B+, 23:40 UTC)
• DefiLlama: Solana total value locked (B+, 23:41 UTC)
• CoinPaprika: Raydium seven-day change (B, 23:42 UTC)
• DexScreener: RAY/SOL pool (B, 23:41 UTC)
• LiveCoinWatch: Bitcoin price (B, 23:41 UTC)

Not financial advice.