Raydium Rises 7.4% as Bitcoin Breaks $84,000
Raydium outperforms Solana this week, driven by tokenized ETF listings and a broader market rally.
Key points
- Raydium gained 7.4% in 24 hours, closely mirroring Solana's 7.58% rise.
- Over $750 million in short positions were liquidated as Bitcoin exceeded $84,000.
- Raydium now facilitates 24/7 trading of tokenized ETFs and Injective pairs on Solana.
Raydium rose 7.4% in the last 24 hours, tracking the broader altcoin rally. This move coincided with Bitcoin breaking through the $84,000 level.
The price action reflects a risk-on sentiment across the digital asset sector. CoinMarketCap data confirms the strong correlation between major assets and Raydium.
Market Liquidations Fuel the Rally
Bitcoin surpassed $84,000, triggering over $750 million in liquidations. Approximately two-thirds of these came from short positions.
Ethereum and other major altcoins followed the upward trend. The global crypto market cap approached $3.0 trillion during this period.
Tokenized Assets Drive Protocol Value
Raydium now lists the tokenized Global X Copper Miners ETF. Traders can access this asset twenty-four seven on Solana.
This development positions the protocol as a key liquidity layer for stocks. It strengthens the fundamental bid for RAY tokens.
Cross Ecosystem Integrations Boost Volume
Injective expanded to Solana with Raydium as a launch partner. The protocol hosts trading pairs for INJ against SOL and SPL tokens.
RAY outperformed SOL by roughly 30% over the past seven days. This sustained outperformance highlights the impact of new integrations.
