Raydium Market Cap Hits $587.20 Million (RAY)

Raydium (RAY) traded down 6.9% against the US dollar during the 24-hour period ending at 11:00 AM E.T. on July 23rd. Raydium has a market cap of $587.20 million and approximately $44.78 million worth of Raydium was traded on exchanges in the last day. One Raydium token can currently be purchased for $2.23 or 0.00003344 BTC on cryptocurrency exchanges. In the last week, Raydium has traded up 11% against the US dollar.

Here’s how related cryptocurrencies have performed in the last day:

• KILT Protocol (KILT) traded down 3.3% against the dollar and now trades at $0.19 or 0.00000289 BTC.
• Aidi Finance (BSC) (AIDI) traded 2.2% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• Zoo Token (ZOOT) traded down 2.2% against the dollar and now trades at $0.0652 or 0.00000239 BTC.
• CareCoin (CARES) traded 2.2% lower against the dollar and now trades at $0.0809 or 0.00000297 BTC.
• Kitty Inu (KITTY) traded 1.9% higher against the dollar and now trades at $95.84 or 0.00338062 BTC.
• Hokkaidu Inu (HOKK) traded up 1.2% against the dollar and now trades at $0.0004 or 0.00000001 BTC.
• Jeff in Space (JEFF) traded down 2.2% against the dollar and now trades at $2.75 or 0.00010076 BTC.
• Lumi Credits (LUMI) traded down 1% against the dollar and now trades at $0.0127 or 0.00000019 BTC.
• AXIA Coin (AXC) traded 0.1% lower against the dollar and now trades at $13.43 or 0.00048094 BTC.

Raydium Token Profile

Raydium launched on February 21st, 2021. Raydium’s total supply is 554,999,239 tokens and its circulating supply is 263,563,222 tokens. The official website for Raydium is raydium.io/#. Raydium’s official Twitter account is @raydiumprotocol and its Facebook page is accessible here.

According to CryptoCompare, “Raydium (RAY) is a distinctive automated market maker (AMM) built on the Solana blockchain. Unlike traditional AMMs, Raydium integrates with a central limit order book, ensuring faster, cost-efficient trades and shared liquidity. This unique architecture allows it to tap into the broader OpenBook ecosystem, enhancing liquidity and user experience. The platform was conceived by a pseudonymous team including figures like AlphaRay and XRay, who, motivated by the challenges in DeFi in 2020, launched Raydium in partnership with Serum in February 2021. The native token, $RAY, plays a central role in the ecosystem, facilitating trades, incentivizing user engagement, and supporting the AcceleRaytor initiative for new project launches.”

Buying and Selling Raydium

It is usually not possible to purchase alternative cryptocurrencies such as Raydium directly using US dollars. Investors seeking to trade Raydium should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Gemini or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Raydium using one of the aforementioned exchanges.

RAY/USD price chart by TradingView