Why did $RAY triple in February? These three changes explain it
Change 1: Tokenized stocks have become a new money printer
After StonkFun integrated with LaunchLab, tokenized stock trading volume hit a record $2.8 billion in September. Daily protocol revenue came close to $440,000, and $640,000 was used to buy back RAY—the highest single-day buyback in nearly a year and a half. Trading volume → revenue → deflationary buybacks: this flywheel is finally running for real.
Change 2: Token launch costs slashed, attracting new-token traffic
LaunchLab removed its reliance on OpenBook, cutting token launch costs from 0.29 SOL to 0.03 SOL—a 90% reduction (eating into $pump’s market). Combined with mandatory LP locks and support for any quote pair, projects are voting with their feet. New tokens continue to bring in trading volume and fees.
Change 3: The rally is being driven by spot buying
On-chain data shows that spot capital is the main driver of this rally, with leverage levels remaining modest. Spot listings on CEXs like Coinbase have further opened up access for buyers.
How is RAY different now from before?
It used to be a shadow token of the MEME market: when MEME cooled off, so did RAY. Now it’s driven by both “MEME + RWA,” alongside buybacks funded by real fees. For the first time, the token is deeply tied to protocol revenue.
Just keep an eye on these three metrics:
Tokenized stock trading volume, the number of new LaunchLab projects, and weekly buyback volume.
Can this upgraded narrative translate into long-term growth? Share your thoughts in the comments! $RAY
#raydium #solana #defi
Change 1: Tokenized stocks have become a new money printer
After StonkFun integrated with LaunchLab, tokenized stock trading volume hit a record $2.8 billion in September. Daily protocol revenue came close to $440,000, and $640,000 was used to buy back RAY—the highest single-day buyback in nearly a year and a half. Trading volume → revenue → deflationary buybacks: this flywheel is finally running for real.
Change 2: Token launch costs slashed, attracting new-token traffic
LaunchLab removed its reliance on OpenBook, cutting token launch costs from 0.29 SOL to 0.03 SOL—a 90% reduction (eating into $pump’s market). Combined with mandatory LP locks and support for any quote pair, projects are voting with their feet. New tokens continue to bring in trading volume and fees.
Change 3: The rally is being driven by spot buying
On-chain data shows that spot capital is the main driver of this rally, with leverage levels remaining modest. Spot listings on CEXs like Coinbase have further opened up access for buyers.
How is RAY different now from before?
It used to be a shadow token of the MEME market: when MEME cooled off, so did RAY. Now it’s driven by both “MEME + RWA,” alongside buybacks funded by real fees. For the first time, the token is deeply tied to protocol revenue.
Just keep an eye on these three metrics:
Tokenized stock trading volume, the number of new LaunchLab projects, and weekly buyback volume.
Can this upgraded narrative translate into long-term growth? Share your thoughts in the comments! $RAY
#raydium #solana #defi