RAY (Raydium) has pumped 14.14% in the last 24 hours.

Gate News Bot news, August 13, according to CoinMarketCap data, as of the time of writing, RAY (Raydium) is currently priced at 3.53 USD, with a rise of 14.14% in the last 24 hours, reaching a high of 3.66 USD and a low of 2.64 USD. The 24-hour volume is 223 million USD. The current market capitalization is approximately 946 million USD, with a growth of 117 million USD compared to yesterday.

Raydium is an automated market maker ( AMM ) and decentralized exchange ( DEX ) based on the Solana blockchain. It offers users functions such as token swaps, liquidity provision, and staking, and assists new projects in token issuance through LaunchLab. Raydium aims to provide efficient, low-cost DeFi services for the Solana ecosystem.

Important news about RAY recently:

1️⃣ Raydium launches PumpFun competitor LaunchLab Raydium recently launched a new feature called LaunchLab, which is a token issuance platform for the Solana ecosystem. The launch of LaunchLab is seen as a direct competition to PumpFun, demonstrating Raydium's commitment to continuous innovation in the Solana DeFi space. This initiative helps attract more project teams and investors to participate in the Raydium ecosystem, bringing more demand for the RAY token.

2️⃣ RAY token price hits a four-year high In the recent market conditions, the price of RAY tokens has performed strongly, reaching a four-year high at one point. This breakthrough performance reflects the market's increased confidence in the Raydium project, and it may also attract more investors' attention and participation in the Raydium ecosystem.

3️⃣ Solana DeFi ecosystem overall warming up Multiple DeFi projects in the Solana ecosystem, including Raydium, have shown a significant rise trend recently. This overall recovery has not only improved the market performance of the RAY token but also strengthened Raydium's position as one of the main DeFi platforms on Solana.

From a technical perspective, after the RAY token breaks through the previous resistance level, it may continue to maintain strength in the short term. However, investors still need to be vigilant about the potential risk of a pullback. From a fundamental perspective, Raydium continues to launch new features and improvements, which help to consolidate its leading position in the Solana DeFi ecosystem.

This message does not constitute investment advice, and investors should be aware of market volatility risks.