Raydium gained 10% over 24 hours, reaching $1.76 and outperforming the broader crypto market by 3.99%. According to AMBCrypto, this latest move coincided with Raydium supporting Injective's Solana expansion and handling most of StonkFun's trading activity. The token was trading at approximately $1.76 at press time, with the price movement showing continued strength beyond the previous rally that briefly reached $1.85 before retracing below the $1.80 resistance level.
The rally was significantly boosted by Raydium's strategic positioning in the StonkFun ecosystem, with Raydium processing $1.713 billion of StonkFun's all-time Trading Volume, capturing a 64% share of the $2.67 billion total. As reported by AMBCrypto, this demonstrates how integrations were translating into measurable protocol usage across the Solana blockchain. Raydium accounts for over 90% of memecoin DEX trading volume on Solana, with its cumulative tokenized stock volume recently surpassing $5 billion on the blockchain. The integration enables participants to trade Injective ecosystem tokens through Raydium, potentially funneling additional swaps and liquidity to the platform.
Protocol activity reached new highs across several key metrics, with Total Value Locked (TVL) climbing to $1.26 billion and Holders Revenue rising to $280,000 over 24 hours. According to AMBCrypto, these rising liquidity and revenue figures suggested that the rally had support beyond broader Solana momentum alone. The distinction between utility-driven growth and price momentum-only rallies is crucial for RAY's long-term sustainability, as a rally supported by actual protocol usage and revenue generation typically has a broader foundation than price momentum alone.
RAY's 10% gain pushed the token through key resistance and above the $1.75 support area, with the token remaining above its key Exponential Moving Averages (EMAs). As reported by AMBCrypto, this technical positioning leaves the longer-term structure with buyers, though the rapid daily gain leaves the token vulnerable to profit-taking if buying pressure weakens. The MACD indicator remained supportive after crossing above its Signal line, while the positive histogram reading of 0.0341 suggested bullish pressure had not fully faded after the retracement. The strongest visible liquidity clusters are located around the $1.64–$1.66 region, with the RSI indicator breaching 72.27 placing the token in overbought conditions.
While the broader cryptocurrency market showed green across the board, Raydium's performance was particularly noteworthy given the timing of Injective's Solana expansion and the success of its StonkFun integration. According to AMBCrypto, reclaiming the $1.80 resistance would be crucial for an upside continuation, while the next test is whether Raydium can defend $1.75 after momentum cools. The analysis suggests that such a correction would not invalidate the broader structure while $1.2202 remains protected, indicating potential for another sustained recovery attempt despite current downside pressure. The key challenge will be maintaining ecosystem activity levels and ensuring that capital continues entering Solana applications to sustain RAY's current momentum.
