Raydium’s RAY and Jupiter’s JUP Pumping: Here’s Why

The cryptocurrencies Raydium (RAY) and Jupiter (JUP) have recently experienced substantial price surges, attracting attention from investors and analysts alike. Let’s delve into the potential reasons behind these rallies.

Raydium (RAY) Breaks Resistance, Targets $3.84
According to X user @CryptoCodreanu, Raydium (RAY) has successfully broken through two significant resistance levels and is currently “grinding to $3.” The analyst states that if RAY manages to surpass the $3 mark, the next target could be $3.84.

The Raydium token has indeed witnessed a remarkable price surge, opening at $1.7 and spiking to $2.7 on the day, representing a 58% increase. Over the past 24 hours, RAY has surged by an impressive 75%, accompanied by a more than 300% increase in trading volume.

The price breakout for RAY comes after the token had been facing resistance since the end of December. The rally could be attributed to a recent announcement by Rebase (@REBASEgg), which chose Raydium as the primary liquidity destination for its $IRL token on the Solana blockchain. This collaboration allows the Solana community to govern Rebase’s ecosystem through $IRL.

Raydium is an automated market maker (AMM) and liquidity provider built on the Solana blockchain, designed to facilitate trading on the Serum decentralized exchange (DEX).

Jupiter (JUP) Surpasses Polygon (MATIC) in 24-Hour Trading Volume
Meanwhile, Jupiter (JUP), a decentralized exchange built on the Solana blockchain, has also witnessed a remarkable price surge. According to @SolanaFloor, JUP has surpassed Polygon (MATIC) in terms of 24-hour trading volume.

The JUP token spiked by 55% in the past 24 hours, accompanied by a trading volume increase of more than 100% in the last 24 hours.

Explosion in Meme Coin Market; How to find potential successors to $WIF, $PEPE, and $BONK?🤫

The key? Getting in early, especially during the ICO phase. Check out NuggetRush today! This new memecoin combines play-to-earn gaming with authentic gold mining ventures. Seize the opportunity with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.

Show more +

Twitter user @dewuntime praised Jupiter Exchange, stating that the team consists of “real software pros in web 3” who prioritize user experience and consistently collect feedback. The user expressed confidence in Jupiter, advising against “fading” (selling or shorting) the project, likening it to the early days of Binance.

The rallies witnessed by Raydium and Jupiter could be attributed to a combination of factors, including new partnerships, increased trading activity, and positive sentiment surrounding the Solana ecosystem. However, it’s essential to exercise caution and conduct thorough research before making any investment decisions in the highly volatile cryptocurrency market.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo