Raydium, a decentralized exchange on Solana, has increased by 15%, reaching 5.60 USD, while experiencing a minor decline of 0.5% in the wider market. Despite this rise, it faced a 10% decline over the past week and 20% over the last two weeks.

With total value locked at 2 billion USD and a trading volume of 167 billion USD last month, Raydium shows strong fundamentals. Technical indicators suggest a potential breakout, and recent trading volume has more than doubled, indicating a positive shift.

The emergence of Solaxy, a new Solana-based platform, may pose a challenge to Raydium, particularly in the meme coin sector, as it gains traction with significant presale interest. Analysts predict Raydium’s price could further increase, potentially hitting 10.00 USD by mid-2025.