In just 10 days from launch, PumpSwap—a decentralized exchange (DEX) on the Solana blockchain—reached $10 billion in transaction volume, thanks to impressive growth and market demand. This unfathomable rise has seized the attention of the DeFi community and raised questions about what it means for Solana-based DEXs to compete with already established platforms like Raydium. PumpSwap’s fast success has come from its internal drive to create a native DEX for PumpFun, which is a major player in the Solana ecosystem. Before PumpSwap went live, many of the tokens that graduated from the PumpFun platform were being sent directly to Raydium,
The post PumpSwap DEX Reaches $10 Billion in Volume in Just 10 Days, Sparking Competition with Raydium appeared first on The Merkle News.
]]>Ray’s outlook appears extremely bearish on the daily chart following a major collapse in the past weeks. Testing a five-month low this week, it currently in a consolidation mode as it decides on where to head next. Following a significant breakdown from a head-and-shoulder pattern on the daily chart, Ray witnessed its biggest loss (in late February) since the start of the drop and retraced slightly to $3.1 after a three-day calm. Releasing more pressure from this retracement level last week, the price collapsed again and closed last week’s trading well below the $2 level. Volatility increased this week and
The post RAYDIUM PRICE ANALYSIS & PREDICTION (March 17) – Ray Enters Oversold After Major Crash, Consolidating Next Move appeared first on The Merkle News.
]]>The token linked to the Raydium protocol, $RAY, is no different in this regard. In the recent past, it has seen significant downturns, with a 30% drop closely following the announcement from Pumpdotfun that they had created an AMM. The fall, of course, got “some whales” like DMBZ2…XvQvD feeling quite uneasy. We have no way of knowing for sure, but this isn’t a great look for the market when “whaling” as part of the DeFi ecosystem entails having to take significant losses just to maintain a position of any consequence. Uncertainty plagues the $RAY token’s future. Whale Reduces Position in
The post $RAY Token Takes a Hit: Whale Sells Off Holdings Amidst Uncertainty Over New AMM Launch appeared first on The Merkle News.
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The layer-1 network clocked nearly $3.8 billion in trading volume in the past 24 hours, according to DefiLlama.
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Meme coin trading was a key driver of Raydium’s volume with meme coins accounting for 65% of Raydium’s monthly volume. Raydium Is King of DEXs Raydium (RAY), a decentralized exchange (DEX) on Solana has exceeded Uniswap‘s monthly DEX volume for two months in a row. This saw Raydium emerge as the top DEX by volume […]
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Solana-native Raydium beat Uniswap in decentralized exchange trading volumes in October and November, according to Messari.
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A notable surge in activity puts analysts’ eyes back on Ethereum. Can the Ethereum network catch up to and surpass Solana?
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Solana’s onchain and derivatives data suggest that SOL could make a run back toward its all-time high in the short term.
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Solana’s fresh all-time highs were driven by investors’ memecoin mania and euphoria over Bitcoin’s strong rally. Can SOL hit a new high?
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Everything but ETH seems to be rallying, even though Ethereum’s DApp volumes are surging. What gives?
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