Raydium’s Rally Now Has a Mechanical Buyer Behind It $RAY has gained about 105% in seven days to $1.72, but this time the price move can be traced to a simple economic loop rather than a new Raydium product launch. More StonkFun launches → more Raydium trades → more fees → 12% of fees used to buy RAY That loop accelerated after StonkFun moved all new launches onto Raydium’s LaunchLab on September 5. StonkFun generated $5.88M in revenue over the past week, while LaunchLab itself recorded $886,612 in seven-day fees. The buyback data shows how quickly that activity reached the token. On September 8 alone, Raydium spent $640,788 buying RAY on the open market — its largest daily buyback since February 2025. Those purchased tokens move into a protocol wallet rather than immediately returning to exchanges. This does not mean every dollar of new launch activity translates directly into RAY price appreciation. But unlike a purely narrative-driven rally, higher trading activity now feeds into a recurring source of spot demand. The durability of the move therefore depends heavily on whether StonkFun and LaunchLab can keep generating enough volume to keep that fee engine running. #Macro Insights# #RAY #Crypto