Raydium Soars to 11 Month High Amid 90 Percent Weekly Rally

Raydium is currently the star of the Solana ecosystem. The token reached an 11 month high of 1.75 dollars on Friday, marking an impressive 90 percent jump over the past week. While major assets like Bitcoin and Ethereum struggled during the same period, RAY stood out as one of the best performers in the top 300 coins.

Three main factors are driving this surge. First, the StonkFun platform moved all new token deployments to Raydium, which significantly lowered costs and boosted activity. Second, the protocol completed its largest RAY buyback since February, repurchasing over 640,000 dollars worth of tokens using fee revenue.

The third catalyst is the rise of tokenized equities. New listings for stock tokens like GRND and shares of companies like Boeing and Costco are generating heavy trading volume on the network. Since RAY buybacks are linked to these fees, increased trading activity directly impacts the token price.

Traders are now watching to see if this momentum can last. The main question remains whether the current volume from stock tokens and new deployments will remain steady once the initial excitement settles down.