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Partnership Announcement
Raydium announced on January 9, 2025, a partnership with Orderly Network to offer perpetual futures trading on the Solana blockchain. The company is Solana's first Decentralized Exchange that will provide this type of trading. Users can now leverage their trades, benefit from better liquidity, and have access to a shared order book over 30 decentralized exchanges. Raydium sees around 8.4 million active users on this new application, which is within the expectations of the development team. Improving the decentralized finance options on Solana, it is making itself stand competitive with even the likes of Ethereum. Most analysts view this as an effort toward getting more investment and users attracted to Raydium. More than that, however, it seems to strengthen its hold on DeFi.
Total Value Locked (TVL) Growth
As of January 21, 2025, Raydium’s Total Value Locked (TVL) is around $2.730 billion, showing strong user engagement and liquidity. This increase is largely due to the recent launch of perpetual futures trading in partnership with Orderly Network, which attracted more traders and liquidity providers. Raydium holds about 60.7% of the total decentralized exchange trading volume on Solana, reinforcing its leading position. This strong performance reflects a healthy ecosystem and growing confidence among users in Raydium’s features. Overall, Raydium is becoming a major player in the decentralized finance (DeFi) space on Solana.
Currently, RAYUSD has gained over 30% in the past two days and is trading above both short-term (34 and 55 EMA) and long-term moving averages. The price recently hit a high of $7.86 and is currently trading around $7.46.
Price Performance and Technical Analysis
From a technical perspective, the bearish threshold is set at a close below $1.20, indicating a potential invalidation of bullish sentiment. Immediate support is identified around $5.85, with further support levels at $5/$4 and $3.80/$2.88 if the downward pressure continues. Conversely, near-term resistance is positioned around $8.21 and if breached, it may suggest minor bullish momentum, allowing prices to reach targets of $10.96/$12.
Investment Strategy
For investors considering entry points, it is advisable to look for buying opportunities on dips around the $7 mark, with a stop-loss set around $5.80 and a target price of $10, positioning themselves for potential gains.
