RAY due for some retracement after finding resistance in overbought conditions. Demand may push higher as Raydium enjoys robust growth.
RAY reaps the benefit of impressive demand and utility within the Raydium DEX. TVL and volume soar to noteworthy levels.has been flying under the radar, but a lot has happened under the hood. The Solana DEX has been gaining popularity and that is evident in various performance metrics, including Its native token, RAY.
RAY’s bullish performance confirms robust demand, and most of it was driven by the Raydium ecosystem growth. It has been holding down the title for the top DEX since April. It currently controls over 50% of the total DEX volume in the Solana ecosystem.Raydium’s growing market share in the Solana ecosystem reflects in it the volumes that it has been handling this year.
However, this was not its historic high, but it’s latest ascend did come close to it. Raydium’s TVL achieved an ATH of $2.21 billion on 15 November.
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