Raydium Launches War on Pump.Fun with LaunchLab
Raydium, one of the leading decentralized exchange (DEX) platforms on the Solana network, has just announced the upcoming launch of its own token launch platform, named LaunchLab. This new offering aims to attract more crypto projects to the Solana ecosystem while generating additional revenue for Raydium.
Indeed, Raydium’s native token, RAY, has seen a significant 13% increase in the last 24 hours, outperforming the overall crypto market. This positive investor response reflects the excitement surrounding this new launch platform.
Raydium is indirectly entering a war with its competitor Pump.fun, the largest token launch platform on Solana. However, Pump.fun has been in decline following scandals, including the LIBRA memecoin incident.
But unlike “Pump.Fun” solutions, LaunchLab stands out with several ambitious features. Firstly, the platform will offer three different bonding curve types, allowing for fine-tuning of the price and demand for each new token launched.
Furthermore, LaunchLab will allow project teams to customize third-party user interfaces, giving them the freedom to set their own fees. “We are not here to compete with existing launch platforms, but rather to provide a neutral and open infrastructure for crypto teams,” explained a Raydium developer.
It is worth noting that Raydium is already a leader in the Solana ecosystem, as demonstrated by Blockworks’ research.
An Opportunity to Diversify Raydium’s Revenue
Raydium had previously announced a token buyback program using a portion of the revenue fees. This new token launch platform is part of a broader revenue diversification strategy for Raydium. Currently, the platform generates over a million dollars in daily transaction fees, with more than 30% coming from tokens launched on Pump.Fun.
With LaunchLab, Raydium hopes to attract new crypto projects to its ecosystem, offering a more flexible and customizable experience for teams. Beyond direct revenue, this initiative should also increase adoption of DEX and the RAY token in the long term.
Should You Buy RAY ?
Raydium could see increased adoption in the coming weeks. Its 31% gain indicates that the announcement is pleasing investors.
Currently at $1.82, RAY has broken its upward channel. The compression of the Mean Reversion Channel indicates a major move is approaching.
There are two key resistances above its price: the first at $3 and the second much higher at $4.9. This represents increases of 71% and 159%, respectively. The 4H RSI divergence signals a bullish trend reversal. If the market continues its uptrend, RAY could remain the top gainer in the altcoins market over the next few days or weeks.
Investing in RAY is possible through the Bitget exchange. Here is a clear guide to buying RAY:
- Create a Bitget account : Visit the official Bitget website and sign up with your email or phone number. Validate with the received code and activate 2FA to secure your profile.
- Complete KYC verification : Submit an ID and, if requested, proof of address to complete KYC. This quick step is necessary for trading without restrictions.
- Top up your wallet : In “Deposit,” add funds via cryptos (USDT, BTC, etc.) or fiat (credit card, transfer). Choose your option and follow the steps.
- Find the token : Access “Spot Market” or “Trading,” search for “RAY,” and select the RAY/USDT pair to purchase your tokens.
- Make the purchase : Choose a market order to buy immediately or a limit order to set a price. Indicate the desired quantity of RAY and confirm the purchase.
