Raydium Price Soars 30% as Coinbase Announces Major Listing

Raydium (RAY) price has surged 30% following Coinbase’s announcement that its international exchange will support RAY perpetual futures. This latest listing is expected to boost Raydium’s exposure in the global market. Coinbase’s humongous user base and liquidity are anticipated to significantly impact trading activity for the Solana-based decentralized exchange crypto.

Coinbase Adds Raydium Perpetual Futures

Scheduled for launch on or after November 14, 2024, at 9:30 a.m. UTC, the RAY-PERP perpetual futures will be available on both Coinbase International Exchange and Coinbase Advanced. This offering provides an additional tool for traders interested in Raydium, allowing them to speculate on RAY’s future price with the leverage that perpetual futures provide.

The news has already sparked considerable enthusiasm within the crypto community with RAY price showing strong performance ahead of the listing date. Coinbase’s decision to list RAY perpetual futures underscores the growing attention on decentralized exchange tokens. Moreover, more broadly, it spotlights the growth in the Solana ecosystem, which has seen renewed interest among investors.

@CoinbaseIntExch will add support for Raydium perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our RAY-PERP market will begin on or after 9:30 am UTC 14 NOV 2024. $RAY pic.twitter.com/CdLnh1srmi

— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) November 7, 2024

The latest listing not only highlights Raydium’s utility but also positions it as a significant player on a globally recognized exchange, potentially paving the way for increased adoption and market stability. This strategic expansion by Coinbase could further influence RAY’s price and trading volume in the coming weeks, netizens expect.

RAY Price Performance

At press time, the Raydium price jumped 29.64% to $4.84 on Thursday, November 7. Meanwhile, the Solana token’s market cap surged to a whopping $1.27 billion. Furthermore, the 24-hour trading volume for RAY skyrocketed by 82% to $318.26 million.

In addition, the RAY price even broke above the $5 mark today, marking a major milestone as the altcoin’s 1-week gains soared beyond 54%. Moreover, the Raydium price has clocked an impressive gain of over 200% in the last 30 days, capturing the eye of crypto enthusiasts. Additionally, today, it recorded an intraday high of $5.05.

Also Read: Coinbase CLO Hints at a New Era for SEC’s Crypto Regulations