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The crypto market has been trading mixed lately, but amidst the chaos, Solana has emerged as a standout performer. Over the last 18 months, Solana has consistently outpaced other blockchains, even surpassing Ethereum in several key metrics.
Decentralised exchange (DEX) tokens have joined the rest of the crypto industry in a deep sell-off. Uniswap (UNI), the biggest DEX in the industry, has retreated to $5.56, down by over 66% from its highest point this year. Similarly, Raydium (RAY), the biggest Solana DEX, has dropped to $1.
Solana has experienced a significant increase in on-chain activity and daily active addresses, driven by popular dapps like Raydium, Pump.Fun, and Jito.
TL;DR Meme Coin Mishap: Solana-based DEX Raydium attempted to launch a meme token called CTO via Twitter. However, another CTO token deployed by Makememe.now caused confusion, leading to a 75% drop in the official Raydium CTO meme token within 24 hours. User Frustration and Raydium's Response: Users expressed frustration after losing funds.
The decentralized exchange attempted to launch a meme token using Twitter tool makenow.meme, but things "didn't exactly go as expected."
Dapps like Raydium, Pump.Fun and Jito have been the top fee generators on the Solana blockchain, data shows.
Decentralized exchange Raydium launched a meme coin called CTO using a new crypto launchpad, but things didn't go according to plan.
Uniswap and Raydium saw outsized inflows of users as market optimism returned in July. Raydium continues to surpass bigger chains and protocols in terms of weekly fees.
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With the price of Bitcoin heading toward its $70,000 mark, the crypto market has successfully regained momentum by recording a significant jump in valuation over the past few days. Moreover, the Solana price has displayed a strong bullish reversal by breaking out of its important resistance level.
Raydium (RAY) is one of the cryptocurrencies to see huge gains in the past week. After trading to lows of $1.46 on June 24, Raydium price has risen steadily to reach highs of $2.73 on July 22.
This integration simplifies and speeds up entry into the dynamic Solana network. By integrating MoonPay, a financial technology company that facilitates fiat-to-crypto transactions, Raydium aims to lower the barriers to entry.
The crypto market is buzzing with numerous digital assets, so it's not surprising that many promising altcoins remain under the radar.
The protocol also announced an Android app allowing users to trade on the mobile phone platform, among other upgrade features.
Solana's main decentralized exchange, Raydium, has grown in volume in the past months. Recently, Raydium's activity surpassed Uniswap based on the growing demand for Solana-based assets.
In a remarkable showcase of growth and enthusiasm, Penguiana, the unique penguin-themed meme coin on the Solana blockchain, has successfully launched its $PENGU token on Raydium. Buy $PENGU here on Raydium. This milestone comes after a highly successful presale, confirming strong investor interest and community support.
In a startling development, the Donk.Meme team just announced the launch of its token presale. The project is slated to debut its native token, $DONKM, which has lately gained much attention in the crypto space.
Raydium on Solana has surged to become one of the top seven protocols by 24-hour fees, overtaking networks and projects such as Arbitrum, Maker and even Aave. This rise is attributed to a significant meme coin rally within the Solana ecosystem, capitalizing on Ethereum's recent lackluster performance and the market's search for high-risk, high-reward assets.
Solana's decentralised exchanges (DEX) were the leading platforms on Saturday as investors and traders pumped Book of Meme, the new hot cryptocurrency. Data compiled by CoinMarketCap shows that Jupiter's volume jumped to over $3.2 billion in the past 24 hours, its biggest on record.
February was a bullish month for the cryptocurrency market, nearly leading to a new all-time high for Bitcoin (BTC) and other altcoins.
Raydium, established on the Solana blockchain, functions as an automated market maker (AMM) and liquidity provider, playing a crucial role in the Solana ecosystem's decentralized finance (DeFi) applications. Distinct from traditional exchanges, Raydium employs liquidity pools rather than an order book for asset trading, enabling swifter and more cost-effective transactions.
The native token for a decentralized exchange (DEX) built on Solana (SOL) has skyrocketed by more than 95% this week amid roaring network growth. Raydium (RAY) is an on-chain order book automated market maker (AMM). The project's native token, RAY, is trading at $1.72 at time of writing, up from around $0.88 one week ago.
Raydium's (RAY) price went parabolic this week as it jumped to a high of $2.0, much higher than the year-to-date low of $0.10. This surge has pushed its total market cap to more than $486 million, making it one of the biggest parts of the Solana ecosystem.
Raydium's (RAY) and Orca's (ORCA) were among the best-performing cryptocurrencies on Friday as their remarkable rallies gained steam. RAY jumped to a high of $0.95, its highest point since August 2022. Similarly, ORCA token surged to an all-time high of $8, which was over 1,821% above its lowest point this year.
