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RAY Surges After Upbit Listing — Are Whales Already Out?
Raydium (RAY) surged 9.5% as Upbit announced its listing, triggering whale activity and potential profit-taking.
The surge in RAY’s value comes amid market-wide sluggishness, with the token now having gained nearly $60 million in market capitalization within a span of 24 hours. The listing news prompted the cryptocurrency to break out from a multi-month consolidation phase.
As per the announcement, RAY trading officially opens at 12:00 PM KST with KRW and USDT pairs.
Following the price pump, one whale deposited $2.26 million worth of tokens into Binance, likely to realize gains.
The listing by Upbit has sent RAY’s market capitalization skyrocketing towards the top 100 cryptocurrencies, currently ranking 99th at $607 million.
Raydium is an automated market maker (AMM) and liquidity protocol built on the Solana blockchain.
Source: www.coinspeaker.com
