The case for a real story:
📈 Raydium’s Q3 net revenue jumped 264% to $7.99M, and tokenized-asset volume rose 91% to $3.99B. 12% of its fees go to RAY buybacks, and supply is fixed at 555M.
🏦 Kamino’s CEO confirmed KMNO is its only token, and the Foundation committed at least $20M over 24 months to expand tokenized lending.
The caution flags:
📉 Solana’s DeFi TVL is down about 5% this week. Raydium’s TVL is down ~21% and Kamino’s ~11% over the past month.
⚡ Bounces after weak stretches can fade fast. In September, RAY jumped 61% in a day on a trading spike, a reminder of how volatile it can be.
🔓 KMNO has small daily unlocks (about 7.5M tokens, 0.08% of supply) this week.
What I’m watching:
Whether TVL stops falling
Buyback totals
Volume in tokenized stocks on Solana
DeFi tokens often move harder than BTC in both directions. Plan your size and exit first, and never use money you can’t afford to lose.
Tap $RAY or $KMNO to see the live charts. Which one looks stronger to you? 👇
Disclosure: I may earn commissions from trades made through links or widgets in my posts (Binance Write to Earn / referral programs). This is analysis, not financial advice, and nothing here guarantees any outcome.