Raydium (RAY) Price Surges 18% After Upbit Listing – Solana DeFi Rally Explained
2025-06-19 07:51:43Raydium (RAY) Soars 18% After Upbit Listing: Solana’s DeFi Giant Defies Market Downtrend
Solana’s Top DEX Token Rallies as Korean Exchange Adds RAY/KRW and RAY/USDT Pairs
In a surprising twist amid a broader crypto market slump, Raydium (RAY), the native token of Solana’s leading decentralized exchange (DEX), surged 18% in 24 hours following its listing on Upbit, South Korea’s largest cryptocurrency exchange. The rally defied the downward pressure on major assets like Bitcoin (BTC) and Ethereum (ETH), which dipped slightly as the Federal Reserve held interest rates steady for the fourth consecutive meeting.
The sudden spike came after Upbit announced support for RAY/KRW and RAY/USDT trading pairs, triggering a wave of buying activity. Blockchain data revealed that a whale deposited 2.26 million RAY (worth ~$4.5 million) to Binance just before the surge, suggesting strategic accumulation ahead of the listing.
Why Raydium Is Outperforming the Market
1. Upbit Effect: Liquidity and Retail Demand Surge
Historically, new listings on major Korean exchanges like Upbit have led to significant price movements due to high retail participation. The RAY listing followed this pattern, with trading volume spiking 153% to ¥153.37 million ($21 million) within hours. Analysts note that Korean traders have a strong affinity for altcoins, particularly those tied to high-performance ecosystems like Solana.
2. Solana’s Dominance in Meme Coin Trading
Raydium’s growth is deeply intertwined with Solana’s meme coin frenzy. As the primary DEX for Solana-based tokens, Raydium processes over 60% of Solana’s DEX volume, with meme coins like BONK and WIF contributing heavily to its liquidity. The platform’s integration with Pump.fun, a popular meme coin launchpad, ensures a steady influx of new tokens—90% of which are traded on Raydium.
3. Institutional and Whales’ Accumulation
On-chain data shows that large investors have been accumulating RAY ahead of key developments. The recent whale deposit to Binance suggests that high-net-worth players are positioning themselves for further upside. Additionally, Raydium’s revenue-sharing model, where fees are used to buy back and burn RAY, adds deflationary pressure, making the token more attractive for long-term holders.
Technical Analysis: Is the Rally Sustainable?
Price Action: RAY broke out from a double-bottom pattern at $2.00, with the next resistance at $2.58 (neckline). A confirmed breakout could push it toward $3.00.
Indicators: The MACD has flipped bullish, and the RSI (50) suggests room for further upside before overbought conditions emerge.
Support Levels: If profit-taking kicks in, $2.00 remains a critical support zone. A drop below could signal a short-term correction.
Expert Views: What’s Next for RAY?
QCP Capital Analysts: "If Bitcoin stabilizes above $100K, altcoins like RAY could see extended rallies, especially with Solana’s DeFi TVL hitting new highs."
Artemis Research: "Raydium’s dominance in Solana’s DEX ecosystem makes it a proxy for SOL’s growth. As long as meme coins and DeFi activity thrive on Solana, RAY will benefit."
ZachXBT’s Caution: While bullish on Solana, the on-chain sleuth warns of a ‘crime supercycle’ in crypto, urging investors to DYOR before chasing pumps.
Market Outlook: Will RAY Hit New Highs?
With Solana’s TVL ranking third among all blockchains (after Ethereum and Tron), Raydium remains a key infrastructure player. If the current momentum holds, RAY could retest its all-time high of $8.67, especially if Bitcoin’s price stabilizes and institutional interest in Solana grows.
Share your thoughts on our X: Do you think RAY’s rally is just starting, or is a correction due?
Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.
Sources:
TradingView – "Jito (JTO) and Raydium (RAY) Prices Surge: What’s Driving the Solana DeFi Rally?"
FXStreet – "Raydium Soars 18% as Upbit Lists RAY/KRW and RAY/USDT Trading Pairs"
FXStreet – "Cryptocurrencies Price Prediction: Raydium, Ethereum, Aerodrome Finance – Asian Wrap 19 June"
FXStreet – "Top 3 Crypto Gainers: RAY, AERO, SPX Shrug Off Market Volatility, Record Double-Digit Growth"
Coinpedia – "Jito (JTO) and Raydium (RAY) Prices Surge: What’s Driving the Solana DeFi Rally?"
Blockchain.News – "RAY Price Surges 25% After Upbit Listing as Whale Deposits 2.26M RAY to Binance"