$RAY season looks like it’s starting.
raydium has already used around $200m to buy back roughly 30% of the circulating supply. team unlocks ended in feb 2024, and 12% of every swap fee still goes into buying $RAY on the open market.
we already saw what this can do this month. launchlab volume, tokenised-stock trading and a $640k single-day buyback helped push $RAY close to $1.75.
as always... more activity on raydium means more fees, more buybacks and less $RAY sitting on the market. bullish
there are only around 270m tokens circulating. all we need is solana dex volume, launches and tokenised assets to keep growing to send $RAY much higher.
ath is still far, but the path back to it is there.
see you in Uptober
#Macro Insights#
raydium has already used around $200m to buy back roughly 30% of the circulating supply. team unlocks ended in feb 2024, and 12% of every swap fee still goes into buying $RAY on the open market.
we already saw what this can do this month. launchlab volume, tokenised-stock trading and a $640k single-day buyback helped push $RAY close to $1.75.
as always... more activity on raydium means more fees, more buybacks and less $RAY sitting on the market. bullish
there are only around 270m tokens circulating. all we need is solana dex volume, launches and tokenised assets to keep growing to send $RAY much higher.
ath is still far, but the path back to it is there.
see you in Uptober
#Macro Insights#
