Raydium Soars 40% to $4.10 on Record DEX Volume, Nears $200M Buyback
Raydium (RAY) rallied to $4.10 on August 14, a 40% weekly gain, driven by a 47% surge in 24-hour trading volume. In July, the Solana-based DeFi protocol set a new DEX volume record at $40.1 billion (+71% MoM) and posted $18.3 million in revenue (+137% MoM). Raydium’s buyback program, now nearing a $200 million cap, repurchased 3.45 million RAY (~$9.5 million) in July through programmatic and discretionary operations. The platform’s Solana DEX market share climbed back to 45%, bolstered by the Launchlab integration and xStocks tokenized equities liquidity hub. Whale net-buy activity totaled over 1.04 million RAY, while seven-week high exchange inflows indicate profit-taking. With momentum indicators (DMI, RVI) remaining bullish, Raydium could push past $4.50, though short-term pullbacks toward $2.84 are possible amid profit-taking.
Bullish
Raydium’s strong price advance, record DEX volume, and aggressive buyback program have created bullish momentum for RAY. Short-term, the surge in trading volume and positive net-buy whale activity support further upside, potentially testing resistance levels around $4.50. Long-term, sustained programmatic repurchases nearing $200 million and expanding market share on Solana DEX reinforce confidence, bolstering liquidity and reducing circulating supply. While profit-taking from elevated exchange inflows could trigger temporary pullbacks toward $2.84, the overall trend remains bullish as momentum indicators (DMI, RVI) signal continued strength.