Raydium has been performing remarkably well in the market over the past month. The Solana memecoin frenzy has contributed to its growth...
rallied by 280% from 10 October to 9 November, before facing a pullback on the charts. The Automated Market Maker and liquidity provider on thet should be noted that Ethereum has seen a steady drop in fees since the Dencun upgrade in March.In September, Raydium’s fees were hovering around the $300k-mark. On 13 November, it hit $10.73 million, with revenue at $693.36k. Fees are collected from swaps and a portion of this is used to market buy RAY and distribute it to token stakers.
The spike in Dormant Circulation during that time revealed greater token movement. This likely pointed to a hike in selling pressure from profit-taking activity.
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