Can Raydium (RAY) crypto go past $20 by 2021-end?

Highlights

  • Built on Solana blockchain, Raydium crypto (RAY) is an automated market maker (AMM) which gives the investors an opportunity to generate profit making prospects within the blockchains and offers easy token swaps and frictionless yield opportunities.
  • RAY was listed on the Kraken exchange on Thursday.
  • According to CoinMarketCap, the RAY was trading at US $11.06 with a 24-hour trading volume of US $16,67,83,378.

Built on Solana blockchain, Raydium crypto (RAY) is an automated market maker (AMM) which gives the investors an opportunity to generate profit making prospects within the blockchains and offers easy token swaps and frictionless yield opportunities. With the Serum decentralized exchange (DEX), the Raydium ecosystem offers a broad range of features which includes Raydium Swap, Raydium Farming, and Raydium Fusion Pools. The protocol operates as a bridge for projects looking to expand to Solana and Serum.

On Thursday, Radium was listed on the Kraken. Following which, the Friday’s market has been abuzz as the token saw 1.55% up in the market prices. At the time of writing (BST 11:30 am), RAY was trading at US $11.06 with a 24-hour trading volume of US $ 16,67,83,378. Raydium crypto had a live market cap of US $77,29,88,237 with a circulating 6,98,68,396 RAY coins. 

Also read: Will KuCoin listing supercharge Opulous crypto?

What makes Raydium unique?

Many AMMs are able to generate liquidity through their native pools only. Besides, AMMs mostly operates on the Ethereum protocol, which increases the cost when gas fees are high, and the network is congested. Raydium frees the users from these issues and they can use the protocol in a seamless manner. Besides, it offers faster and cheaper transactions and as Raydium can access liquidity from the Serum ecosystem, it offers the users with high levels of liquidity.

In addition to this, the functioning system of the Raydium is something most of the seasoned traders are accustomed to. Also, it includes fast block confirmations, allowing the users to confirm the security of the transaction. As there is no centralised entity to monitor the custody of the assets the accounts cannot be banned or censored.

Why RAY is a good investment option

According to Cointobuy, RAY presents itself as a good investment proposition and has a 4.7 out of 10 safety rank. Market participants expect that Ray will consolidate its position and will give approximately +67% expected return with the cost going to US $20 in coming months. With high transaction fees and congestion in the Ethereum based AMMs, Raydium does presents itself as a viable option. Though Raydium did see a blip in May, it’s gradually picking up pace once again due to the Kraken listing and the sentiment of most holders view the token as one for long-term.

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