Raydium RAY Surges 90% to 11-Month High as Crypto Market Falls
Raydium (RAY)
Editor:
Eugene Serbin
newsbitcoin.cash reports that Raydium's RAY token rallied 90% in one week to an 11-month high on September 11, 2026, while the broader cryptocurrency market declined by 3.9%. This counter-trend move placed RAY second among the top 300 cryptocurrencies by performance despite Bitcoin and Ethereum dragging the aggregate market lower. The surge is attributed to three distinct catalysts converging simultaneously, suggesting a structural shift rather than a single speculative pump.
As Solana's leading automated market maker, Raydium benefits directly from the network's surging transaction throughput and on-chain activity. The protocol's position at the intersection of liquidity provision and high-speed settlement has compounded its structural advantage over Ethereum's layer-2 fragmentation. Ranking second in weekly performance during a market downturn indicates genuine demand accumulation from traders rotating into high-beta DeFi infrastructure.
The 11-month high marks the first time RAY has traded at these levels since late 2025, erasing a year of relative underperformance. Analysts note that DEX protocols generate real fee revenue tied to volume, making infrastructure tokens more defensible than pure speculative plays. This price action signals that Solana-native DeFi infrastructure is entering a new phase of price discovery and attracting renewed developer attention.
How the market reacted
Whalio's own Binance spot order flow for RAY, measured when this story was written up on 11 September 2026. Not the outlet's figures.
Whalio's spot data for RAY shows a price of $1.45 with a 24-hour buy ratio of 53.2%, indicating that buyers are currently in control. This buying pressure is stronger than the 47.8% recorded in the last hour, suggesting that short-term volatility is settling into sustained accumulation. The 24-hour volume delta stands at +$1,614,623, meaning more money flowed into buys than sells over the day. In contrast, the 1-hour volume delta is -$40,699, showing a brief period of net selling pressure that has since been overwhelmed by larger timeframe buying. The cumulative volume delta (CVD) for the day closed at +$1,434,875, confirming that net buying dominated the session. Net buying occurred for 14 out of 24 hours, further supporting the view that demand is building rather than fading.
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 reveals that the 24-hour spot volume of $24,622,747 is 1.88 times the weekly average, marking an unusually active trading day. The current 24-hour buy ratio of 53.2% is slightly higher than the 7-day average of 51.5%, indicating that buying intensity has increased relative to recent norms. Over the past eight days, RAY gained 74.1%, with a total volume delta of +$3,747,279, establishing a strong baseline of accumulation. While today's volume is significantly above average, the buy ratio remains close to the weekly mean, suggesting the market is maintaining its bullish bias without extreme overheating. This data places today's trading within the context of a sustained multi-day rally rather than a single isolated spike.