Raydium ($RAY ) suddenly became one of the strongest altcoins in the market.

In a week, RAY surged by around 90–100% and even touched US$1.75, while the overall crypto market was actually under pressure.

What makes this rally interesting isn’t just its charts.

🔥 There’s a “machine” behind RAY’s rise

In early September, StonkFun moved its entire launch of new tokens to Raydium LaunchLab.

Meaning, the more tokens are created and traded through that ecosystem, the more activity flows into Raydium.

Raydium allocates 12% of the trading fee to buy RAY back from the market.

On September 9, Raydium carried out a buyback of about US$640,788 — one of the biggest daily buybacks since February 2025.

So a cycle is formed:

STONK → volume increases → Raydium fees rise → RAY buyback → buying pressure on RAY increases

Even reported that StonkFun generated around US$5.88 million in revenue over 7 days, making it one of the most active launchpads right now.

Can this volume hold up, or is it just a hype effect from StonkFun?

Because if volume drops → fees drop → buyback drops → the RAY catalyst can also weaken.

So RAY isn’t just the story of a “coin up 100%”.

What you should pay attention to is this:

- Is Raydium volume continuing to rise?

- Will RAY buybacks remain large?

- Can StonkFun sustain its activity?

If the answer is YES, then the RAY rally could have a stronger foundation.

If NO, a nearly 2× rise within a week can actually be a reason to be cautious about taking profits.

In your opinion: RAY is just starting… or is it already too hot? 👇

#RAY #Raydium $SOL #STONK #Crypto #Altcoin #DeFi