RAY (Raydium) 24-hour pump 8.17%

Gate News Bot news, on August 28th, according to CoinMarketCap data, as of the time of writing, RAY (Raydium) is currently priced at $3.69, with a rise of 8.17% in the last 24 hours, reaching a high of $3.77 and a low of $3.11. The 24-hour volume is $217 million. The current market capitalization is approximately $989 million, an increase of nearly $74.7 million compared to yesterday. RAY is currently ranked 77th in the global crypto assets market capitalization.

Important news about RAY recently:

1️⃣ The Raydium ecosystem incentive program has shown significant results The LaunchLab and LetsBonk projects recently launched on the Raydium platform have achieved significant results. Since the launch of these two projects, Raydium has distributed over $13 million (approximately 4.1 million RAY) in rewards to traders and creators. This large-scale incentive not only attracted more users to participate in the Raydium ecosystem but also effectively enhanced the platform's activity and volume.

2️⃣ User engagement has significantly increased By distributing a large number of RAY token rewards, Raydium successfully incentivized traders and creators to participate more actively in platform activities. This strategy not only increased the circulation and use of RAY tokens but also helped to expand Raydium's user base, laying the foundation for sustained growth in the future.

3️⃣ RAY token demand increases With the successful operation of the LaunchLab and LetsBonk projects, as well as the issuance of a large number of RAY token rewards, the demand for RAY tokens in the market has significantly increased. This has directly driven the rise in the price of RAY tokens, reflected in a 8.17% rise in the past 24 hours.

From a technical perspective, the price of the RAY token has broken through recent resistance levels, showing strong upward momentum. On the fundamental side, the ongoing development of the Raydium ecosystem and the increase in user participation provide support for the long-term value of the RAY token.

This message is not an investment advice; investors should be aware of market volatility risks.