Raydium (RAY) is among the cryptocurrencies taking the highlight of the market as different analysts predict massive increases. So, this is after an increase of more than 50%. Before talking about the recent increase in the price of this token, let’s discuss what it stands for. Let’s dive in!
What is Raydium (RAY)?
- Raydium is an automated market maker (AMM) and liquidity provider built on the Solana blockchain. So, this crypto project was specifically for a DEX, aiming to change how things work. This project is on the Solana blockchain for the Serum decentralized exchange (DEX). So, according to the developers of this project, it is quite different from other AMMs. This project aims to provide on-chain liquidity to a central limit order book.
- The implication of this is that there will be a conversion of funds on Raydium into limit orders that sit on Serum’s order books. So, on the other hand, Raydium (RAY) is the native token of this crypto project. It was the one experiencing a massive increase in the market. So, there was an increase of more than 50% in the weekly and monthly charts.
Raydium (RAY) Increases By Over 50% In Weekly And Monthly Charts
- According to new data, the amount of increase within the Raydium (RAY) is simply staggering. So, this is quite beyond the expectations of many analysts, leaving them dumbfounded. According to these analysts, Raydium (RAY) is pumping due to its key role and utility in the fast-growing Solana ecosystem. So, one of them on Twitter (now X) said, “RAY is the abbreviation for the token named ‘Solana Raydium,’ developed on the Solana blockchain platform.”
- After falling over 99% from its all-time high in 2021, Raydium (RAY) is back on the scene, and it is killing it. There’s a massive increase in all price levels. So, there’s currently a breakthrough from the downtrend this token was going through for the past months. Hence, analysts are expecting more increases from this token.
Analysts expect a 200% Increase
- According to Team LAMBO, a crypto analyst, they expect this token to go through major changes. However, these changes are going to be positive. So, they expect the price of this token to increase by more than 200%.
- There was an even more optimistic view when the analyst said there are expectations of this token reaching $1. So, he said, “My Short term target would be 1$ and Mid-term target would be 5$. Retest of All-time high would be more than a 50x move off here! Tracking this with my eyes wide open!”
Conclusion
There’s a new crypto that is going through a phase that could lead to a massive increase in price. So, this token is the Raydium (RAY) token. So, it is basically the native token of an AMM crypto project. According to recent data, there was an increase of more than 50% in the weekly and monthly charts. So, analysts are even predicting more increases in the near future.
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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
