Reviewed by Reviewed by Adewale Olarinde Updated 17:30 EDT October 8, 2026 Share Share Share Back to Top Raydium [RAY] spent most of the summer going nowhere. Then in early September, it finally woke up
Why does that matter today? Here’s the rundown
Most of the market had a bad week, but Raydium clearly did not get the memo
RAY traded around $0.90 before its September breakout and climbed as high as $2.56 on 7 October, an increase of roughly 184%. Even after retreating to $2.31, the token remained more than 150% above its early-September level
That hardly makes a difference if you think of the bigger picture. Before its breakout on September 5, RAY was around $0.90
It has more than doubled in the past month alone
The pace is still there, but the tiredness is obvious. RSI was at 66; back in September, it was running above 80
Chaikin Money Flow is positive at 0.06, but well off its September highs
OI went from about $13 million to over $20 million during today’s rally. At the same time, funding went deep into the red, close to -0.20%
A lot of traders opened short positions, betting the pump wouldn’t last. OI has since dropped to about $16.3 million, and funding is still negative at -0.08%
The bears are still here, but in fewer numbers
Token Terminal data shows $12.4 billion in DEX volume for tokenized stocks on Solana this year. About $6.1 billion of it went through Raydium’s pools
Meteora handled $2.3 billion, and Orca $1.2 billion. Those two together still don’t match Raydium
September is when things really picked up. According to Blockworks, Raydium’s tokenized equity volume hit about $260 million last month. In August, it was under $40 million
The most traded ticker? NVDAx, the tokenized version of NVIDIA. There were 115 others, but AI names were clearly what people came for
So while most of the market sat this week out, RAY had actual trading volume behind it
Samyukhtha L KM is a financial journalist and market analyst at AMBCrypto. She covers key market moves, blockchain adoption, and socially-driven crypto trends. She also enjoys providing fresh takes through commentaries on emerging narratives
