🔥🔥🔥 #RAY price goes bonkers as #Raydium (RAY) #DEX gains market share 🔥🔥🔥

Raydium's (RAY) price experienced a significant surge this week, reaching a high of $1.69, a considerable increase from the year-to-date low of $0.10. This rally propelled its total market cap to over $486 million, solidifying its position as a major player in the Solana ecosystem.

Investors are showing enthusiasm for Solana's ecosystem strength, reflected in the impressive performance of tokens within the network, including Bonk, Samodeycoin, and Solend. Solana has now surpassed #Dogecoin to become the fifth-largest cryptocurrency globally.

Raydium's recent price boost is attributed to the launch of the $EURC stablecoin on Solana by Circle. EURC, equivalent to USDC, the second-largest stablecoin globally, contributed to the positive sentiment around Raydium.

Raydium has notably gained market share and is now recognized as the fifth-largest decentralized exchange (DEX) globally, following dYdX, Uniswap, Orca, and Vertex Protocol. The network processed over $320 million in transactions in the past 24 hours, with Total Value Locked exceeding $191 million, and historical trading volume surpassing $59 billion.

Popular tokens within Raydium's ecosystem, such as Bonk, Jito, Solend, and the rapidly growing meme coin Samoyedcoin, have played a significant role in its success. Samoyedcoin, launched a few weeks ago, has achieved a total market cap of over $77 million.

It's worth noting that Raydium's RAY is not the only Solana token experiencing a surge. Serum's SRM token rose by more than 40% in the past 24 hours, even after the FTX collapse, highlighting the resilience of the Solana ecosystem. Other tokens, including Bonfida's FIDA and Solanium, have also seen substantial gains, with Solana itself witnessing a more than 17% increase in the same period.

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