Raydium Reaches 11-Month High With Three Catalysts Driving the 90% Rally

Raydium (RAY) hit an 11‑month peak on Friday, climbing to an intra‑day high of $1.75. The surge contributed to a 90 % weekly rally, positioning RAY as the second‑best performer among the top 300 crypto assets despite a broader market decline of 3.9 %.

RAY Outperforms a Falling Market

Ranked 117th by market capitalization, RAY added 14.67 % in the last 24 hours. While most Solana ecosystem tokens fell, RAY stood out as an outlier, posting the strongest weekly gain after only STONK, a meme coin, which posted a larger percentage increase.

Three Catalysts Behind the Rally

• LaunchLab Cost Reduction: New token deployments were routed through Raydium’s LaunchLab, cutting fees from 0.29 SOL to 0.03 SOL and prompting an upgrade to the platform.
• Significant Buyback: Raydium repurchased $640,788 worth of RAY on September 9, the largest daily buyback recorded since February 2025, funded by 12 % of protocol fees.
• Tokenized Equity Trading: Backpack Securities listed Grindr’s GRND token, generating $11 million in volume within an hour, and more than 15 stock tokens (including Boeing, Costco, and Roblox) launched through Backpack and Sunrise.

Outlook

The sustainability of the rally may depend on continued activity in LaunchLab deployments and tokenized equity trading, as fee‑driven buybacks are tied to trading volume.