The Raydium (RAY) token reached an 11-month price high, climbing to $1.75. This performance marks a 90% rally over the past week, positioning the asset as the second-strongest performer among the top 300 cryptocurrencies, while the broader market declined by 3.9%.
Three primary factors drove this growth. First, StonkFun announced on September 6 that all new token deployments would utilize Raydium’s LaunchLab. This transition reduced deployment costs from 0.29 SOL to 0.03 SOL, alongside a recent platform upgrade.
Second, the protocol executed a significant buyback of RAY tokens on September 9, totaling $640 788. According to Messari, this represented the largest daily buyback since February 2025. The protocol currently allocates 12% of its fee revenue to these repurchases.
Finally, the expansion of tokenized equities contributed to the rally. On September 10, Backpack Securities listed the GRND token, which generated $11 million in trading volume within one hour. Additionally, over 15 stock tokens, including Boeing, Costco, and Roblox, launched via Backpack and Sunrise.
