Raydium’s $RAY token has leaped 18.6% to $3.84 in the past 24 hours, propelling the Solana DEX into crypto’s top 75 and stretching its 2025 rally to 139%. Now at $2.1 billion in TVL, bulls are eyeing a breakout toward the $5 Gartley target despite overbought indicators. Now trading near $3.76, the asset has staged an impressive 53.11% rebound since May 8, when it bottomed at $2.42. Ray price chart/ Source: CoinMarketCap This latest upswing brings Raydium’s year-to-date (YTD) gains to an impressive 138.78%, showing consistent performance across all timeframes. However, it remains 77.6% below its all-time high of $16.93, reached during the 2021 bull cycle. Raydium Dominates Solana with $2.1B TVL, Record Trading Surge Launched in 2021, Raydium lets users swap tokens, provide liquidity, launch new assets, and trade perpetual futures. Liquidity providers earn trading fees and may also receive $RAY tokens or other incentives, depending on the pool. Additionally, users can stake $RAY to earn more of the same token. As Solana’s top DEX by volume, Raydium averaged daily trading volumes of $3.6 billion in Q1 2025. This growth was largely driven by a record-breaking $195.8 billion monthly volume in January, which peaked at $16 billion on Jan. 19, fueled by the frenzy around Trump’s TRUMP memecoin ahead of his presidential return. According to DeFiLlama, Raydium currently boasts over $2.15 billion in Total Value Locked (TVL), surpassing the TVL of other prominent chains like Sei, Aptos, and Polygon. Raydium DEX metric/ Source: DefilLama Raydium’s dominance is supported by its robust staking model and strong fee/revenue generation. Currently, over $125 million worth of $RAY, about 11.85% of its market cap, is staked. On an annualized basis, Raydium generates over $460 million in fees and records $91.2 million in revenue, outperforming even some Layer-1 networks like Ethereum in this metric. Nonetheless, competition in the Solana ecosystem has intensified. As Pump.fun enters the DEX trading ecosystem with PumpSwap , Raydium counters with LaunchLab , its token launch platform gaining rapid traction. Raydium's LaunchLab has flipped PumpFun's graduation rates today pic.twitter.com/0I7Z1l3Qgc — Zhu Su (@zhusu) May 13, 2025 Telegram trading bot Maestro has integrated support for LaunchLab tokens, and Bonk launched its own launchpad, Letsbonk.fun , powered by Raydium’s infrastructure. Bullish Gartley Pattern Points to Potential $RAY Rally Toward $5 The $RAY/USDT daily chart has formed a classic bullish Gartley pattern, identified by legs X-A-B-C-D, suggesting a potential rally toward the D-point around the $4.90–$5.00 range. The pattern reflects ideal symmetry and aligns well with standard Fibonacci retracement levels. Raydium price prediction/ Source: TradingView The 9-day Simple Moving Average (SMA) has turned upward, currently sitting at $2.999, indicating a strengthening short-term trend. Meanwhile, the RSI stands at 75.75, placing $RAY in overbought territory. This suggests the possibility of a short-term cooldown or consolidation before another leg upward. $RAY – Raydium Watching for a rounding bottom formation here on Raydium Neckline at $4.20 Still some work left to do, but if it can make its way to neckline, I see a path to $7 range (more than a 2x from current range) Trade #RAY on Bitunix: https://t.co/Uf6nMuona5 (no KYC) pic.twitter.com/q99eopBQNL — Ijaz Awan (@realijazawan) May 13, 2025 A convincing breakout above the $3.00 level could pave the way for a continued move toward the $4.90–$5.00 region. Traders should keep a close watch on the $3.70–$4.00 zone for signs of resistance or trend continuation. The post Raydium Rockets 53% Since May 8 – Can Solana’s Top DEX Hit $5 Next? appeared first on Cryptonews .
