One cryptocurrency that could still have a strong run in the current bull run is Raydium (RAY). Raydium is a decentralized exchange in the Solana ecosystem (SOL) – similar to Uniswap or SushiSwap on Ethereum. Solana has been seeing strong price gains for a few days, and many analysts believe the broader ecosystem – and thus Raydium – also has great potential. We introduce Raydium (RAY) and say: What is Raydium (RAY)? Why is Raydium (RAY) special? Who Invented Raydium? And: What are the price forecasts for Raydium from 2021 to 2028?
What is Raydium (RAY)?
Raydium is a so-called automated market maker (AMM) on the Solana blockchain. It uses the central order book of the decentralized serum exchange (DEX) to enable fast trades, shared liquidity and new functions for generating returns.
Solana was chosen to enable inexpensive and fast transactions. It is a high-performance, permission-free blockchain that can currently process 65,000 transactions per second.
RAY, on the other hand, is the platform’s native token. It is used for the following functions: For staking (to earn protocol fees) and to receive IDO allocations as well as for voting on protocol decisions.
Why is Raydium (RAY) special?
Other AMM-DEXs and DeFi protocols can only access liquidity within their own pools. You do not have access to a central order book. In addition, since most platforms are Ethereum-based, users complain of slow transactions and high fees.
According to the developers, Raydium offers several key advantages:
- Faster and cheaper: The efficiency of the Solana blockchain ensures that transactions can be carried out much faster than with Ethereum. In addition, the fees are only a fraction that high.
- A central order book for ecosystem-wide liquidity: Unlike other AMMs, Raydium offers on-chain liquidity for the central limit order book of the Serum DEX. This means: Raydium enables access to the order flow and the liquidity of the entire serum ecosystem. The funds deposited with Raydium are converted into limit orders, which in turn are in Serum’s order books. This gives liquidity providers access to Serum’s orders.
- Trading Interface: Traders can see TradingView charts, place limit orders and have more control over their trades.
Come in addition: Raydium’s “Best Price Swaps” function determines whether a swap within a liquidity pool or via the serum order book results in the best price for the user. Users can also not only trade and exchange on Raydium. There are also other ways to earn rewards while staking and liquidity farming.
And: Raydium is currently undergoing a security audit by Kudelski Security.
Who invented Raydium (RAY)?
The homepage lists five pseudonymous developers: AlphaRay, XRay, GammaRay, StingRay and RayZor. RAY was founded by AlphaRay.
- AlphaRay leads the overall strategy, operations, product direction and business development of Raydium. He has a background in algorithmic trading and switched to market making and liquidity provision for cryptocurrencies in 2017. Alpha saw a market need for an order book AMM in 2020 to aggregate liquidity and, with the release of Serum, assembled a team of experienced developers.
- XRay is Raydium’s Chief of Technology and head of the development team. XRay claims to have eight years of experience as a system architect for trading concepts.
- GammaRay is responsible for marketing and, according to the homepage, also plays a key role in strategy and product orientation. GammaRay worked for a leading data analysis and market research company for a long time.
- StingRay is an experienced operating system developer with, according to its own statements, “an eye for details and innovative solutions”. StingRay is the lead developer for Raydium’s on-chain order book AMM.
- RayZor has a degree in systems security engineering and a lot of experience as a “white hat hacker”. At Raydium, he ensures that all safety aspects are guaranteed.
What do traders and analysts say about Raydium?
Many traders consider Raydium (RAY) to be very promising – both in the short and long term. The popular pseudonymous Kaleo, for example, predicts an increase of up to $ 14.89 in a recent analysis. Based on the current price of $ 7.19, this corresponds to an increase of more than 100%.
Kaleo writes to his more than 362,000 Twitter followers:
“The Solana ecosystem projects are ready for further growth. I decided I didn’t have enough engagement – so I grabbed a bag of RAY. I expect a return to double digits by the May 19th resistance. ”
Solana ecosystem projects look ready to make another leg higher. I decided I don’t have enough exposure – so I went ahead and snagged a bag of RAY. Looking for a move back to double digits to resistance from the May 19th breakdown. pic.twitter.com/pr95yvyyvQ
– KALEO (@CryptoKaleo) August 24, 2021
Trader @CryptoRick expresses is also bullish on RAY. He won’t sell a single one of his tokens – and expects an increase to $ 35.
Jimie, an analyst for the popular “The Birb Nest” team, thinks Ray is undervalued at current prices:
$ ray is still undervalued.
– Jimie (@Your_NLP_Coach) August 26, 2021
The analysts of “Coin 98 Insights” also share an infographic on Raydium in a tweet. To see on it: Raydium is the leading top 10 DeFi project on Solana after TVL (“Total Value Locked”). The industry commentators write:
“As the Solana ecosystem is skyrocketing, a look at the TVL is a good way of assessing the price of the projects.”
As the Solana Ecosystem is skyrocketing, looking at the TVL is a good way to evaluate the price of the projects.
– Coin98 Insights (@ Coin98Insights) August 22, 2021
Price predictions for Raydium (RAY) from 2021 to 2028
RAY is currently trading at $ 7.19 after rising more than 4% within 24 hours. The coin is still almost 58% below its previous all-time high of $ 16.24, which was hit on May 3rd.
Will you be able to return to old highs? Or at least the 100% increase in the short term, as Trader Kaleo suspects? What do the price forecasts for Raydium (RAY) predict?
- WalletInvestor.com thinks RAY is a bad 1 year investment. The forecast is accordingly bearish: WalletInvestor.com sees the coin fall to as low as $ 1.07.
- DigitalCoinPrice.com, however, sees Raydium as a worthwhile purchase. According to the RAY forecast, the coin will move to $ 11 by the end of the year. By the end of 2022, RAY will only move insignificantly with an increase to $ 12. In 2023, however, the RAY bulls will trample and push the price to $ 14.99. In the course of 2025, RAY will break the $ 20 mark, and according to DigitalCoinPrice.com, RAY will reach $ 32.44 by the end of 2028.
- Tradingbeasts.com predicts the RAY price to reach $ 10.12 by the end of 2021. In 2022, RAY will then be quoted at a maximum of 12.37 dollars, and by the end of 2023 the price is forecast to even move to 18.25 dollars. Bullish will also be bullish for Raydium in 2024: Here a year-end price of $ 22.23 is predicted. Based on the current price at $ 7.19, this corresponds to an increase of 209%.
Last updated on August 26, 2021
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