Raydium (RAY) Rallies 90% in a Week to an 11-Month High

90% Weekly Run to an 11-Month High

Raydium (RAY), the native token of the Solana-based decentralized exchange, printed its highest price in eleven months on Friday, capping a 90% weekly rally that made it the second-strongest performer across the top 300 cryptocurrencies. Only the STONK meme coin, up 1,220.8% over the same seven days, outgained it. The move stands out because almost everything around it fell: the broader market shed 3.9% on the week, with Bitcoin (BTC), Ethereum (ETH) and XRP all trading lower, and most Solana ecosystem tokens tracked the downturn. RAY did not. The token added 14.67% in the 24 hours to Friday's session and touched an intraday high of $1.75, a level last seen in late October 2025, while holding the 117th spot by market capitalization. As of this writing, live pricing puts RAY near $1.60, with the intraday spike already cooling — a reminder that the highs in this market are traded, not owned. Our reading of the order flow suggests much of the bid is flow-driven rather than passive accumulation, which makes the automated market maker pools on this layer-1 ecosystem the place to watch next week. Full context on Raydium below.

StonkFun Routes Launches to LaunchLab

The rally's first catalyst came from StonkFun, a Solana launchpad with an unusual twist: instead of pairing new tokens only against SOL or USDC, it quotes them against tokenized equities, pre-IPO assets, exchange-traded funds and other instruments. Many of its launches run a reflection structure, taxing transfers at 1% or 3% and redistributing the pot to holders in whatever asset the token is linked to — an Apple-linked token pays rewards in Apple exposure. That model has now paid out more than $32 million in rewards, including roughly $4.9 million in ZEC to ZCAT holders. On September 5, StonkFun announced that all new token deployments would run through Raydium's LaunchLab, meaning every trade settles through Raydium pools and pays Raydium fees. Deployment costs dropped to 0.03 SOL from 0.29 SOL in the switch, and Raydium confirmed a LaunchLab upgrade earlier this month. The revenue impact is visible immediately: StonkFun booked $5.88 million in fees over seven days, second only to Pons at $10.46 million, while long-time category leader pump.fun sat third at $4.73 million. LaunchLab itself ranked ninth among launchpads with $886,612 in weekly fees.

Raydium confirmedhttps://x.com/Raydium/status/2096695643049714111

Buybacks and Tokenized Stocks Feed the Move

The second catalyst is the buyback flywheel. Raydium routes 12% of every fee dollar into open-market RAY purchases — not a scheduled promise, but a daily buyer whose budget depends on the prior day's trading volume. On September 8, that budget hit $640,788 in a single day, the heaviest daily buyback since February 2025, according to on-chain data. Buybacks had flatlined for most of 2026 before climbing through August and inflecting sharply in the first week of September. Critically, repurchased tokens sit in a protocol wallet rather than returning to circulation, so each purchase removes sellable supply. The third stream is tokenized equities: Backpack Securities listed Grindr's GRND token on September 10, and trading volume reached $11 million within an hour. More than 15 stock tokens — including Boeing, Costco and Roblox — went live this week through Backpack and Sunrise. Buybacks scale with fees, and fees scale with volume, so the thesis compounds as long as StonkFun's launch flow and stock-token trading hold up once the speculative burst around them cools. Readers tracking the market in real time can follow live spot and futures prices on Bybit.

trading volumehttps://x.com/Raydium/status/2098075151170412925?s=20

$1.65 Resistance in Focus

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $1.6467 resistance at 80/100, driven by the confluence of Fibo 0.114, the R2 pivot, a high-volume node and RSI overbought conditions — with spot at $1.6035 and RSI already stretched at 85.58, that shelf is the immediate test. A close through it opens $1.7505 (64/100, ATR Upper and Donchian Upper). On the downside, the $1.5210 support scores 72/100 (Fibo 0.214, Pivot Point, HVN, ATR Lower), with $1.3098 (60/100) behind it; losing $1.5210 would invalidate the short-term bullish structure. Perpetual funding is flat at 0.0000%, signaling no crowded long leverage, while our Fear and Greed Index reading of 56 (Greed) frames an elevated but not euphoric tape. MACD remains bullish and the trend classification is uptrend, favoring dip-buying toward $1.52 over chasing the candlestick highs. For traders scanning altcoin rotation, RAY is the clearest flow-backed outlier this week.