Raydium’s native token, RAY, has surged an impressive 665.45% in 2024, cementing its status as one of the year’s top-performing cryptocurrencies. The platform recently overtook Uniswap in monthly DEX volumes, fueled by a $23 billion spike within a single week.

As the dominant decentralized exchange in Solana ecosystem, Raydium continues to benefit from its market leadership and growing adoption.

Raydium Is Now One of the Most Profitable Businesses In Crypto

Raydium has solidified its position as the leading Decentralized Exchange (DEX) in the Solana ecosystem, achieving a staggering weekly volume of $23 billion between December 2 and December 9. This figure surpasses the combined volumes of its closest competitors: Orca, Pumpfun, Meteora, and Lifinity.

Raydium’s market share now accounts for nearly 50% of all DEX volumes on Solana, benefiting from the interest on meme coins.

Over the past 30 days, Raydium has also generated $226 million in fees, surpassing notable platforms like Jito, Uniswap, Circle, and even Solana itself. It ranks just behind Ethereum and Tether.

With Solana’s ecosystem experiencing significant growth, Raydium’s position as its most dominant application creates strong tailwinds for its price.

RAY RSI Is Reaching Overbought Levels

Raydium Relative Strength Index (RSI) has experienced a rapid increase, climbing from 26 to 70 in under two days. This significant jump reflects strong buying momentum driven by the recent price surge.

An RSI at these levels indicates that RAY has moved from being oversold to

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Author: Tiago Amaral