Raydium (RAY) Hits New Milestones in On-Chain Metrics: Are More Gains Ahead?

Date: Tue, Jan 21, 2025, 09:40 AM GMT

In the cryptocurrency market, the last 24 hours have brought significant volatility, after the much-anticipated inauguration of Donald Trump. While Bitcoin (BTC) dropped by over 5%, dragging many altcoins with it, but Raydium (RAY)—the leading decentralized exchange (DEX) on Solana—has defied the trend.

Raydium (RAY) has captured attention by achieving major milestones in its on-chain metrics, accompanied by a 6% price surge today and an impressive rally of over 54% in recent just last 7 days.

Strong On-Chain Growth

Raydium’s Total Value Locked (TVL) has shown extraordinary growth, reaching a new all-time high of $2.885 billion yesterday and currently settling at $2.65 billion. This marks an incredible leap from just $128 million in early 2024, highlighting the growing influence of the Solana ecosystem.

A significant driver of this growth has been the rising popularity of Solana-based memecoins, which have gained traction on platforms like Dexscreener and Pump.fun. Raydium plays a central role in supporting these assets by providing liquidity and trading infrastructure.

In addition to TVL growth, Raydium has demonstrated remarkable financial performance. According to a report by Artemis , the platform’s annualized revenue has climbed to $363 million, while annualized fees have surpassed $3 billion.

Over the last three months alone, fees have increased by over 370%, and revenue has surged by 260%. This financial growth positions Raydium as an attractive investment, with a Price-to-Fees (P/F) ratio of 1.1x and a Price-to-Revenue (P/R) ratio of 9.6x.

Are More Gains Ahead?

On the price action front, Raydium has delivered a standout performance, posting a 54% gain over the past week. The rally began with a critical breakout above the $5.07 level, overcoming a falling wedge pattern that had kept the price under pressure for weeks.

After this breakout, RAY surpassed a horizontal resistance zone at $6.49 and is now trading at $7.68. The next key resistance is at $7.95. Crossing this resistance will be crucial for sustaining upside momentum, while support remains strong at $6.49. A successful breach of $7.95 could trigger a fresh bullish leg, drawing in more buyers and further strengthening the rally.

Technical indicators support this positive outlook. The Moving Average Convergence Divergence (MACD) indicator signals increasing bullish momentum, suggesting that RAY’s upward trajectory may continue.

Raydium’s recent performance underscores its resilience and growing prominence within the Solana ecosystem. With strong on-chain metrics, robust financial growth, and bullish technical signals, the potential for further gains remains high.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.