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RAY to USDT Converter
1 RAY = 1.8001 USDT · updated 06:19 UTC
Volume Bubbles Chart (1h)
Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.Seasonal Chart
Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.Raydium Markets
Raydium Historical Data
About Raydium (RAY)
Raydium (RAY) is the token of Raydium, a decentralized exchange and liquidity protocol on Solana. Raydium launched on mainnet in February 2021 as a hybrid exchange that combined automated pools with an order book. Today it offers several pool types, a token launch venue called LaunchLab and a perpetual futures interface. The RAY figures on this page come from FMchart's composite, a dollar price assembled from several high-volume exchanges. Raydium's documentation says aggregators such as Jupiter route a large share of their Solana trades through its pools.
Three kinds of pools
Raydium's original product, AMM v4, prices trades with the simple formula x × y = k. It once shared liquidity with the OpenBook order book, but that link has been switched off. CPMM, released in 2024, uses the same math with lower costs and native support for Token-2022 assets. CLMM offers concentrated liquidity, where providers choose a price range for their funds. In every pool type, liquidity providers receive most of the trading fees. CPMM is now the recommended default when someone creates a new pool.
LaunchLab and new tokens
LaunchLab lets projects launch tokens on a bonding curve, where the price rises as people buy. Once a token reaches a set threshold, its accumulated liquidity moves automatically into a regular CPMM pool. Many Solana memecoins start life this way. That activity can lift Raydium's fee income, but it also ties the protocol to one of the most speculative corners of crypto.
Where trading fees go
In CLMM and CPMM pools, 84% of each trading fee goes to liquidity providers, 12% to RAY buybacks and 4% to the treasury. In older AMM v4 pools, providers get 88% and buybacks 12%. Bought-back RAY is held at a public on-chain address rather than burned, so anyone can follow the flow on Solana explorers. Holding RAY is not required to swap, add liquidity or trade perpetuals.
RAY supply and emissions
RAY has a maximum supply of 555 million tokens, and its mint authority is disabled, so no extra RAY can ever be created. A mining reserve of 188.7 million RAY, or 34% of supply, pays out rewards at about 1.9 million RAY a year. Team and seed allocations finished vesting on February 21, 2024. Holders can also stake RAY in the Raydium app to earn RAY rewards.
Memecoin exposure and key risk
Raydium's revenue depends on Solana trading volume, and much of that volume comes from volatile tokens. Competition from other Solana exchanges and launchpads is strong. In December 2022, a compromised pool authority key allowed an attacker to drain several pools. Raydium then moved admin roles to a multisig and used buyback funds to compensate affected providers. Smart contract and key risks remain for any exchange.
Last reviewed: Oct 8, 2026
Raydium (RAY) FAQ
What is Raydium (RAY)?
RAY is the token of Raydium, a decentralized exchange on Solana that launched in February 2021. Raydium runs several kinds of liquidity pools, a token launchpad called LaunchLab and a perpetual futures interface. Part of every trading fee buys RAY on the market, and RAY can be staked in the Raydium app for rewards.
What is Raydium LaunchLab?
LaunchLab is Raydium's token launch venue. New tokens start on a bonding curve, where buyers trade directly against the curve and the price rises with demand. When a token hits its graduation threshold, its liquidity moves automatically into a standard CPMM pool. Many Solana memecoins are launched this way, so most carry very high risk.
Does Raydium burn RAY?
No. Raydium spends 12% of trading fees buying RAY. The purchased tokens sit at a public on-chain address instead of being burned. Anyone can check that address on a Solana explorer. RAY's mint authority is disabled, so the 555 million maximum supply cannot be raised.
What is RAY's price right now?
Right now RAY goes for about $1.7971 in FMchart's composite, a dollar price assembled from several high-volume exchanges. Within the last day, approximately $3.98M of RAY was exchanged across the exchanges in FMchart's composite. Individual Solana DEXs and centralized exchanges can each show their own slightly different price.
How many RAY tokens exist?
Roughly 269,963,563 RAY are in circulation, out of a maximum of 555,000,000 RAY that cannot rise because minting is disabled. That circulating amount is worth about $485.1M at today's price, placing Raydium at rank 113. Around 1.9 million RAY a year still leaves the mining reserve as rewards.
What was Raydium's all-time high?
RAY's top price to date is $16.83, set on Sep 12, 2021. Raydium's token has climbed and slumped with Solana activity, from memecoin booms to quiet stretches. That record offers no clue about the token's direction. Price Statistics adds the all-time low and today's percentage distance from both marks.
How has RAY performed over the months?
In FMchart's composite price history (since September 2024), RAY's biggest monthly rise came in September 2026 (+144.0%) and its biggest drop in February 2025 (-65.2%). Every other month is in the Monthly Returns (USD) table, with yearly summaries under Annual Price (USD) Change. A few months explain much of RAY's path, and none predicts the next.
Was Raydium hacked?
Yes, in December 2022. An attacker obtained a pool authority key for AMM v4 and drained several pools. Raydium said the problem was key management rather than a bug in its programs. It moved authority roles to a Squads multisig, published a postmortem, and the community approved using buyback funds to compensate affected liquidity providers.
Is Raydium a good investment?
FMchart does not offer investment advice. RAY has a fixed maximum supply and a fee-funded buyback program. It also depends heavily on Solana trading activity, faces strong competition from other exchanges and launchpads, and has a past security incident. The token's price has been very volatile.
What moves the price of RAY?
RAY tends to follow Solana and the wider crypto market. Raydium-specific factors include trading volume in its pools, the size of fee-funded buybacks, LaunchLab activity, competition from other Solana exchanges and launchpads, and security news. Swings in memecoin trading can change fee income quickly.