Solana DEX Raydium’s token RAY records the highest gains in October 2024.
The MemeFi wave propelled the upside of DEX volume within the Solana ecosystem.
Had Bitcoin not rallied to $73.5K, October would likely be remembered as Rektober rather than Uptober. Several altcoins also experienced notable rallies on the charts. Among them, Raydium (RAY) staged an impressive price jump—a 115% spike over 30 days.
RAY — the native token of Raydium, a decentralized exchange (DEX) on Solana — surged to its 30-month high at $3.618 on October 27. The altcoin jumped to this peak from $1.66, recorded at the start of last month.
RAY/USDT Price Chart (Source: TradingView)
Closely examining the daily price chart, one can observe a bullish sign in late October—a golden cross. The short-term 50-day moving average (50MA) has overtaken the long-term 200-day moving average (200MA), pointing to a potential bullish rally for this altcoin.
At the time of writing, the Solana token Raydi
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