Raydium token rebounds 11% in a steady Wednesday climb

Raydium token rebounds 11% in a steady climb through Wednesday

Raydium ($RAY) rose 11.3% in 24 hours to $1.72 as of 10:40 a.m. ET on Wednesday, about three times the gain of Solana ($SOL).

The Raydium token rebounds sharply on Wednesday. Raydium ($RAY), the token of the Solana ($SOL) exchange, traded at $1.72 at 10:40 a.m. ET (15:40 UTC). That is up 11.3% in 24 hours, according to CoinGecko.

The quick take

Price: $RAY at $1.72, up 11.3% in 24 hours (CoinGecko, 15:40 UTC).
Trigger: No Raydium news explains the jump; it came during a broad rise in Bitcoin ($BTC) and Ether ($ETH).
Watch: Whether $RAY stays above $1.70, the top of its 24-hour range on CoinGecko.

What happened

Jupiter’s price feed showed $1.73 for $RAY at the same time, a gap of 0.45% to CoinGecko. CoinGecko lists $38.5 million in 24-hour trading volume and a market value of $465.5 million.

The climb came in steps. On Binance’s RAY/USDT pair, hourly closes bottomed near $1.50 at 03:00 UTC, or 10 p.m. ET on Tuesday. The pair reached $1.64 by 09:00 UTC, held close to that level through midday, then rose to $1.73 by 15:41 UTC.

CoinGecko puts the 24-hour low at $1.48 and the high at $1.70, so the latest reading sits just above that high. $RAY is still about 90% below its record of $16.83 from September 2021, per CoinGecko.

Why it moved

No Raydium post or rated news report explains the jump so far, so the cause is not confirmed. The move came on a strong day for the whole market.

Bitcoin ($BTC) rose 4.2% and Ether ($ETH) 6.4% in 24 hours, according to LiveCoinWatch at 15:41 UTC. $SOL gained 3.6% to $96.76 on CoinGecko, so $RAY rose about three times as fast.

Who’s buying and selling

Trade counts tell a mixed story. Raydium’s largest $RAY pool, paired with $SOL, logged 16,606 buys and 17,727 sells in 24 hours, per DexScreener. The pool holds $2.1 million in liquidity, so most of the day’s trading ran elsewhere.

Activity on the exchange itself held up. DefiLlama shows $1.05 billion in deposits on Raydium AMM and $183.9 million in volume in its latest 24-hour reading. That puts Raydium fourth among Solana exchanges on DefiLlama’s list.

What to watch next

The $1.70 level at the top of the 24-hour range, and whether $RAY ends the day above it.
The pool balance: sells still outnumber buys by trade count, which can point to profit-taking into the rise.
Any statement from the Raydium team that explains the move.

Bottom line: Raydium led a broad Wednesday rally with an 11.3% gain, but no project news explains the move yet.

Price data: CoinGecko.