Raydium Price continued his strong rally, having reached the highest level since December 2021, since the growth of the network grew.
Raydium (Ray) crossed the critical level of resistance to $ 8, increased by more than 8000% of its low level of 2023.
The token rally was caused by an increase in the volume of the network caused by a surge in the memonets, such as official Trump (Trump) and Melania (Melania).
According to Defi Llama, Raydium processed a record $ 42 billion last week, surpassing many centralized exchanges. This broke its previous weekly record of $ 27 billion in November.
The 30-day trading volume of Raydium reached almost $ 100 billion, ahead of UNISWAP by $ 90 billion and Pancakeswap $ 62 billion. It is noteworthy that Raydium works exclusively on Solana, while Uniswap covers 22 chains, and Pancakeswap works for six.
Raydium is currently aimed at a more profitable section of the crypto industry section: an eternal future. Last week, the total volume of futures amounted to more than 108 billion dollars, and Hyperlikidan and Jupiter had the largest market share.
Raydium seeks to use its popularity in the spawn market to capture the fraction of the futures industry. His exchange of futures, based on an ordered network, is currently in a public beta version and is expected to be completely launched at the end of this year.
Meanwhile, Raydium continued his tokens redemption program to support the Ray token. On Tuesday, he bought 1.6 billion tokens, as a result of which the total ransom is up to 55 million. This means that about 10% of the token offer is now held in ransom.
Technical analysis of price analysis Raydium
The daily diagram shows that the price of rays continued a strong rally this week, when the volume increased. Token turned over the key level of resistance at $ 6.50, which marked the highest point in November 2022.
Raydium also rose above the strong reverse point of Murrey mathematics at 7.8125 dollars. In addition, it broke over the rising trend line connecting the lowest swing from October 9.
The relative force and other generators continue to grow, and the next target is 10 US dollars, an excess point. Nevertheless, the fall below the key support level at $ 6.50 will annul the prospects of bull.
