Solana’s Raydium up 670% in a year– Here’s what you need to know
One of the better-performing cryptocurrencies in 2024 has, perhaps unexpectedly, been Raydium (RAY). Apart from two notable instances where sharp moves to the upside were seen in March and July, the asset has been subject to range-bound price movements for most of 2024. The wider crypto market bull run that kicked off in early November following the re-election of Donald Trump has had an outsized effect on RAY prices. Just for reference, since November 5, Bitcoin (BTC) prices have increased by 50.62% — in contrast, Raydium has seen a 70.24% surge in the same timeframe. This has brought returns since December of 2023 up to 672.37%. At press time, RAY was trading at $5.60 and has seen a strong 78.16% increase in volume in the last 24 hours alone. A lot of our readers might not be familiar with this digital asset — even accounting for the impressive returns that we’ve mentioned, RAY is only the 74th largest cryptocurrency in the world, with a market capitalization of roughly ...