Coinspeaker
RAY Plummets 24% as Pump.fun Tests Raydium Replacement
Raydium’s
RAY
$3.02
24h volatility:
29.9%
Market cap:
$884.93 M
Vol. 24h:
$346.46 M
has plunged 24% following reports of Pump.fun piloting a similar automated market maker (AMM) as its replacement. According to a pseudonymous market watcher Bonaso, Pump.fun’s graduated tokens have always been the lifeline for Raydium.
As a result, a replacement of Raydium for its in-house AMM would be bearish for RAY’s long-term outlook.
Photo: Pump.fun (Its AMM’s UI is similar to Raydium)
Until recently, Pump.fun has been known as the premier Solana-based meme-coin launchpad. But, listing and trading (swapping) of the graduated tokens has always ha
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