Raydium token climbs 7.8%, most of the gain in one hour

Raydium token climbs 7.8% as most of the gain lands in one hour

The Raydium token rose 7.8% in 24 hours to $2.05 as of 11:39 a.m. ET on Sept. 30, per CoinGecko.

The quick take

Price: $RAY at $2.05, +7.8% ↑ over 24 hours (CoinGecko, 15:39 UTC).
Trigger: Most of the gain came in one hour, from 12:00 to 13:00 UTC, on Binance’s RAY/USDT pair.
Watch: Whether buyers keep their edge in the largest on-chain $RAY pool.

What happened

The Raydium token, Raydium ($RAY), rose 7.8% in the 24 hours to 15:39 UTC on Sept. 30. It traded at $2.05, according to CoinGecko. Jupiter’s on-chain price was also $2.05, up 8.2%, so the two sources agree.

The move was not spread across the day. On Binance’s RAY/USDT pair, the hourly close went from $1.91 at 12:00 UTC to $2.03 at 13:00 UTC, a jump of 5.9%. Over the past 24 hours, hourly closes there ranged from $1.85 to $2.07.

Why it moved

The cause of the jump is not known yet. The wider market was calm. Solana ($SOL) rose 0.4% to $119.03 on CoinGecko, and Bitcoin ($BTC) gained 1.1%, per LiveCoinWatch.

That makes the move specific to $RAY. Over seven days, the token is up 3.9%, so it was below its level of a week ago before today’s jump.

Who’s buying and selling

On-chain trades lean slightly toward buyers. In the largest $RAY pool, a Raydium pair against $SOL with $3.93 million in liquidity, DexScreener counted 28,030 buys and 23,423 sells over 24 hours. That is about six buys for every five sells.

Total $RAY trading volume reached $65.9 million in 24 hours, per CoinGecko. The token’s market value is about $551 million.

What to watch next

The exchange’s own activity is the next marker. DefiLlama shows $276.9 million in 24-hour volume on Raydium’s AMM, fourth among Solana DEXs, with $1.35 billion in value locked. That is about 11% of all Solana DEX volume in the same 24 hours, per DefiLlama.

The other marker is price. Watch whether $RAY holds near the $2.03 level it reached after the jump, based on Binance hourly closes.

Bottom line: $RAY gained 7.8% in a day, with most of the move packed into one hour and no confirmed trigger yet.