Raydium Price Soars 30% as Coinbase Announces Major Listing

 
Kritika Mehta
Written By 
Kritika Mehta
November 7, 2024

Raydium (RAY) price has rallied 30% after Coinbase announced that its global exchange will list RAY perpetual futures. This new listing will increase Raydium’s global exposure. Coinbase’s massive base and liquidity are set to have a considerable influence on the trading volume for the Solana-based decentralized exchange cryptocurrency.

Coinbase Adds Raydium Perpetual Futures

Due for release on or after November 14, 2024, at 9:30 a.m. UTC, the RAY-PERP perpetual futures will be listed on both Coinbase International Exchange and Coinbase Advanced. This product gives another instrument for those interested in Raydium traders to bet on RAY’s future price using the leverage offered by perpetual futures.

The news has already created quite a stir in the crypto space with RAY price demonstrating good performance up to the listing date. The move by Coinbase to list RAY perpetual futures is a recognition of increasing focus on decentralized exchange tokens. More generally, it is also a reflection of increasing expansion within the Solana ecosystem, which has been growing in demand from investors.

The listing not only makes Raydium’s use case possible but also places it on a legitimate, world-accepted exchange as a prime contender, setting the potential stage for increased adoption and market maturity. Coinbase’s move could have additional impacts on RAY’s price and volume over the coming weeks, netizens expect.

RAY Price Performance

At press time, the Raydium price jumped 29.64% to $4.84 on Thursday, November 7. Meanwhile, the Solana token’s market cap surged to a whopping $1.27 billion. Furthermore, the 24-hour trading volume for RAY skyrocketed by 82% to $318.26 million.

Apart from this, the price of RAY even crossed above the $5 level today, which was a significant benchmark because the altcoin’s 1-week gains climbed more than 54%. Also, the Raydium price has achieved an incredible 30-day gain of more than 200%, getting the attention of crypto traders. Further, on the day, it saw its intraday peak at $5.05.

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Kritika Mehta
Written by Kritika Mehta

Kritika boasts over two years of experience in financial news and is currently a crypto journalist at CryptoNewsZ. She excels in covering blockchain technology and cryptocurrencies, offering insightful analysis and a strong grasp of market trends. With a focus on reporting the latest news, she delivers a nuanced perspective, exploring the intersection of finance, technology, and emerging crypto trends. Her ability to break down complex topics makes her work accessible to both seasoned investors and newcomers. ionate about the transformative power of blockchain, she continually researches industry developments to provide readers with accurate, engaging, and well-researched content. She also closely monitors regulatory changes, helping readers understand their impact on the crypto market.