Altcoins rally as ARB and RAY surge on DeFi and L2 gains
Raydium (RAY)
Editor:
Eugene Serbin
lookonchain.com reports that altcoins are rallying broadly with active trading on Robinhood, BNB Chain, and Solana driving sharp gains in Layer 2 and DeFi sectors. Arbitrum (ARB) leads L2 tokens with a 51% rise to $0.1997, while Solana’s Raydium (RAY) climbs 42% to $1.177 following an integration with StonkFun’s token launch platform. SushiSwap (SUSHI) also rises 24% to $0.2385 after integrating its DEX and launchpad into Robinhood Chain, with SUSHI serving as the quote asset for its upcoming Launch V2.
The Altcoin Season Index has reached 40, indicating that 40 of the top 100 cryptocurrencies have outperformed Bitcoin over the past 90 days. Total altcoin market capitalization has hit $1.10 trillion, supported by capital flowing back to projects with real trading use cases. On BNB Chain, tokens like BOME and 1000CAT climb as BNB breaks above $780.
Meanwhile, Arbitrum and Solana co-founders continue their debate, with Steven emphasizing MEV protection and Toly questioning transaction fees. Other notable gainers include ORCA, JUP, UNI, and CAKE, all posting solid increases across the market.
How the market reacted
Whalio's own Binance spot order flow for RAY, measured when this story was written up on 6 September 2026. Not the outlet's figures.
Whalio spot data for RAY shows a buy ratio of 55.6% over the last 24 hours, indicating that buying pressure remains dominant. This 24-hour figure is higher than the 54.4% seen in the last hour and the 52.7% recorded over the past four hours, suggesting that buying momentum is stabilizing rather than fading. The Volume Delta is positive at +$190,497 for the 24-hour period, meaning that the total value of buy orders exceeded sell orders during this time. A positive Volume Delta confirms that aggressive buyers are actively absorbing available liquidity on the order book. Over the last hour, the Volume Delta stands at +$306,415, showing that immediate trading activity is heavily skewed toward purchases. This sustained net buying aligns with the broader market rally described in the news.
The latest daily buy ratio of 45.0% sits at the 11th percentile of the last 322 days, against a median of 50.1% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for RAY, averaged over the days leading up to the story.
Comparing today’s activity to the preceding week, the 24-hour buy ratio of 55.6% is notably higher than the 7-day average of 49.7%, representing a 6.0 point increase in buying dominance. This shift indicates that today is an unusually strong buying day for RAY compared to the typical weekly pattern. The spot volume of $1,657,857 is 1.67 times the weekly average, confirming that trading activity is significantly elevated. While the weekly data shows only 2 of 7 days with net buying, today’s metrics demonstrate a clear continuation of that positive flow. The 8-day price change of 14.1% provides a longer-term backdrop to this specific day’s intense trading volume.