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Raydium – is RAY’s future bullish or bearish? “IMS

Ethereum is known as the queen of the market as it pioneered the technology for smart contracts and decentralized applications. However, Ethereum’s older proof-of-work mechanism is known as the Queen’s Death. However, the bull run of 2020 resulted in massive gains for Ethereum. It also made it clear that the queen of the market is not ready for mass adoption. The network suffered from bottlenecks and exorbitantly high gas charges. This led to a shift in focus from Ethereum to other altcoins. One of the projects that got a lot of attention is Solana. Solana offers an integrated ecosystem of various DeFi projects, which makes it an interesting proposition. One of Solana’s offerings is Raydium.

What is Raydium

The summer of 2020 is known as DeFi summer. The decentralized financial sphere exploded and new loopholes were identified. Raydium founder AlphaRay saw the need for an order book based AMM and launched Raydium’s mainnet in February 2021.

Raydium is both an automated market maker and a liquidity provider. The uniqueness of the platform is that it provides on-chain liquidity to a central order book. The central order book belongs to Serum, an award-winning project of the Solana ecosystem. Serum is the first decentralized exchange for Solana, which makes it crucial to the system. The value of Raydium can be derived from the role it plays in the serum, the value of which depends on Solana.

Can RAY go upstairs?

The cryptocurrency showed a phenomenal performance in the Bull Run of 2021 and the prize doesn’t stop there. Although the market was hit by corrections, Raydium regained momentum in August. It hit a new all-time high of $ 15.27 in late August. At the time of writing, the cryptocurrency is trading at a price level of $ 13.91.

Since this is a project based on Solana’s blockchain, its success is closely tied to Solana’s – which is an added benefit for Raydium as Solana is one of the most sought-after projects. Solana has an extremely bullish outlook that will also boost the future of the decentralized exchange. According to the estimates of the Digital Coin Price, the cryptocurrency is expected to trade at $ 21. 27 in a year. The price is expected to keep rising until it hits $ 36.15 in five years. However, Wallet Investor is forecasting a decline towards $ 4 in a year. While fundamentals support a bullish future outlook, the days ahead will determine whether or not Raydium is a good investment.

After Raydium – Is RAY’s Future Bullish Or Bearish? first appeared on Stock’s Telegraph.

Arjun Sethi
Passionate guitarist, gamer and writer. Lives for the perfect review, and scrapes texts until they are razor-sharp.


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