On a technical front, $RAY has been in this massive triangle since it came out in late Feb. A break to the upside should yield a move about half the size of the triangle. This would be a $4.5 move to around $13.5. A conservative play would be to buy the breakout, but the Solana ecosystem is so bullish right now that I took a position before confirmation (famous last words).
On a more fundamental front, Raydium will operating as an IDO platform and will help launch new tokens on Solana, similar to Uniswap on Ethereum, so it will continue to be a central component to the Solana ecosystem and have a lot of use. Since many liquidity pools and farming pools will be tokens paired against Raydium, there should be strong demand for the token.
On Raydium DEX currently 1 SOL ≈ 2.92 RAY. Was 1 SOL ≈ 1.9 RAY four days ago. I flipped some SOL spot into RAY and hoping for some mean reversion. I am staking at 112% while I wait.
On a more fundamental front, Raydium will operating as an IDO platform and will help launch new tokens on Solana, similar to Uniswap on Ethereum, so it will continue to be a central component to the Solana ecosystem and have a lot of use. Since many liquidity pools and farming pools will be tokens paired against Raydium, there should be strong demand for the token.
On Raydium DEX currently 1 SOL ≈ 2.92 RAY. Was 1 SOL ≈ 1.9 RAY four days ago. I flipped some SOL spot into RAY and hoping for some mean reversion. I am staking at 112% while I wait.