Raydium token rises 6.0% in a steady Friday morning climb

Raydium token rises 6.0% in a steady climb through Friday morning

Raydium ($RAY) gained 6.0% to $1.78 in the 24 hours to 10:41 a.m. ET on Friday, Nov. 6, while Solana and Bitcoin traded lower.

The quick take

Price: $1.78, up 6.0% in 24 hours (CoinGecko, 10:41 a.m. ET).
Trigger: steady buying from Thursday’s late-morning low, with no Raydium announcement in the window.
Watch: whether sell trades keep outnumbering buys in the main RAY/SOL pool.

Raydium ($RAY) traded at $1.78 at 10:41 a.m. ET on Friday, up 6.0% in 24 hours, according to CoinGecko. The Raydium token rises while most large coins slip. Solana ($SOL) lost 1.1% over the same day.

Price data: CoinGecko. Jupiter priced the token within 0.1% of that figure.

What happened

CoinGecko puts the 24-hour range at $1.64 to $1.83. The climb was steady rather than sudden. On Binance’s RAY/USDT pair, the lowest hourly close of the day was $1.645 at 11 a.m. ET on Thursday.

Most of the gain came before U.S. markets opened. Binance’s hourly close rose from $1.708 at 2 a.m. ET to $1.787 at 7 a.m. ET on Friday. It reached $1.812 at 10 a.m. ET.

$RAY has a market value of about $481 million and traded $33.3 million in 24 hours, per CoinGecko. It still sits about 89% below its record of $16.83 from September 2021.

Why it moved

No Raydium announcement in the past 24 hours explains the move, so the cause is not confirmed. The gain stands out against the wider market. LiveCoinWatch showed Bitcoin ($BTC) down 1.2% and Ether ($ETH) down 2.5% at 10:41 a.m. ET.

Trading on the exchange itself stayed busy. DefiLlama’s latest 24-hour reading put Raydium AMM volume at $162 million, sixth among Solana exchanges. Its total value locked stood at $1.01 billion.

Who’s buying and selling

The busiest $RAY pool, RAY/SOL on Raydium, held $2.06 million in liquidity, DexScreener data show. It logged 20,048 sell trades and 18,190 buy trades in 24 hours.

So sellers made more trades even as the price climbed. Trade counts do not show trade size, so they do not say who moved the price. The pool traded $3.56 million over the day, a small share of the token’s total volume.

What to watch next

Whether $RAY stays inside Friday’s range of $1.64 to $1.83 as U.S. trading goes on.
Whether buy trades in the RAY/SOL pool catch up with sells.
Any Raydium post that explains the move.

Bottom line: $RAY gained 6.0% on a day of losses for most large coins, and the reason is not yet confirmed.