RAY reached $1.49, climbing 23.77% on $198.8 million in 24-hour volume and extending a 41% rally that began on Sunday. Twenty tokenized US stocks launched across the Solana ecosystem this week, Raydium executed its largest single-day buyback to date, and Pump.fun adopted the stock-paired deployment model within days. However, Raydium is not the issuer of these synthetic equities.
Who Actually Launched the Tokenized Stocks
Sunrise, a Solana liquidity protocol initiated by Wormhole Labs, listed 20 US stocks issued by Backpack Securities. The initial lineup includes Boeing, Costco, Reddit, Roblox, Lululemon, IBM, Johnson and Johnson, Lockheed Martin, Shopify, and UPS. Each token is backed one-for-one by shares held in custody by Backpack and is redeemable for the underlying stock.
Raydium serves as a decentralized trading venue for these tokens rather than their issuing entity. While several media outlets reported the rollout as its proprietary release, the protocol’s primary benefit is routed order flow. The deepest Nvidia xStock liquidity pool on Solana currently resides on Raydium’s concentrated liquidity automated market maker (CLMM), with cumulative tokenized stock volume on the exchange surpassing $4 billion.
Record $640,788 Buyback Execution
Raydium repurchased $640,788 of RAY on Wednesday, its largest single buyback, according to Blockworks data cited by FXStreet. Cumulative token repurchases under the protocol’s fee-sharing model now total $2.1 million.
Against a circulating market capitalization near $400 million, the buyback program has retired roughly 0.5% of total token value to date. While programmatic buybacks consistently reduce circulating float, at current levels their primary impact is reinforcing trader sentiment rather than drastically altering liquid supply.
On-Chain Network Activity Backs the Rally
On-chain metrics reflect genuine network participation alongside the Raydium crypto price move. DeFiLlama recorded 162,085 active addresses and 3.1 million transactions on Raydium within 24 hours, both setting monthly highs.
Total SOL staked across the protocol reached a record 470,817 tokens on Wednesday, while Santiment tracked 1,074 new addresses interacting with the platform for the first time. In addition to tokenized equities, Raydium recently expanded its quoting options by introducing new spot trading pairs for Bittensor and Dogecoin.
Pump.fun Adopts Stock-Paired Launch Model
Pump.fun introduced Custom Pairs this week, allowing creators to deploy new memecoins quoted directly against tokenized equities, such as NVDAx or TSLAx, instead of SOL or standard stablecoins. Platform fees can be settled directly in the paired asset, with 93 distinct pairs supported across Sunrise and xStocks pools.
This sequence highlights an evolving trend in Solana token launches. Early-stage launchpad StonkFun pioneered stock-paired launches and routed initial pool liquidity through Raydium’s LaunchLab on 6 September. Pump.fun implemented a similar framework days later, establishing stock-paired deployment models across the network’s largest launch platforms.
Read more: RAY Jumps 36% on StonkFun Deal: Is Solana DEX Season Back?
Technical Levels to Watch
RAY closed at $1.6318, up 12.79% on the day after touching $1.7474, which clears the $1.4917 Fibonacci target and the $1.50 threshold that stood as resistance. It finished 6.6% below the session high.
The move has left every moving average far behind. RAY trades 57% above its 20-day exponential moving average at $1.0391, and 92%, 111% and 96% above the 50, 100 and 200-day at $0.8518, $0.7730 and $0.8347. The 20-day is the first trend support and sits 36% below the close, so there is no nearby structure holding the price up. The 14-day RSI reads 86.01 against a signal line of 73.78.
Source: TradingView
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Crypto assets are unregulated and highly volatile. Readers should conduct their own research before making any trading decisions.
FAQs
1. Why is the Raydium token price rising?
RAY gained 23.77% to reach $1.49 following the rollout of 20 tokenized US stocks on Solana, which drove fresh trading volume through Raydium's concentrated liquidity pools. The rally coincided with monthly highs in network activity, including 162,085 active addresses and a record single-day protocol buyback of $640,788.
2. Did Raydium launch the tokenized stocks?
Raydium did not issue or launch the tokenized stocks. Sunrise listed them and Backpack Securities issues and custodies them, holding the underlying shares. Raydium is one of several Solana venues where the tokens trade, alongside Jupiter and Backpack Exchange.
3. How large is the Raydium buyback program?
Raydium bought back $640,788 of RAY on Wednesday, its largest single repurchase, taking cumulative buybacks to $2.1 million. Against a market capitalization near $400 million, that is roughly half a percent of value retired so far.
4. What RAY price levels matter now?
Immediate overhead resistance sits at $1.4917 to $1.50, aligned with key Fibonacci extension targets. On the downside, primary support is established at $1.2910, followed by secondary floors at $1.1287 and $1.00. With the 14-day RSI above 80, short-term consolidation remains possible.
