19.06.2025 09:08

Upbit, South Korea's leading cryptocurrency exchange, announced the listing of Raydium (RAY) tokens, paired with both KRW and USDT, sparking a significant price surge. The exchange officially commenced trading at 12:00 PM KST on June 19, 2025. This news immediately propelled RAY's price upward, a testament to the market's anticipation.

Following the Upbit listing, RAY experienced a remarkable price jump. Initially climbing over 25% to reach $2.62, the price later saw a slight correction settling near $2.28. Despite this minor retracement, the 24-hour increase still amounted to a considerable 9.5%, a robust performance against a generally sluggish broader cryptocurrency market. This significant rally contributed to a substantial increase in Raydium's market capitalization, boosting it by almost $60 million in a single day, propelling it into the top 100 cryptocurrencies by market cap.

The impact of the Upbit listing on RAY's trading volume was dramatic. A staggering 500% surge was observed, reaching $371 million within 24 hours, according to CoinMarketCap data. This surge in activity strongly suggests a wave of traders aiming to exploit short-term price fluctuations for quick profits.

Intriguing activity from a significant holder, often referred to as a "whale," further illuminates the market dynamics. Blockchain analytics revealed a large deposit of 906,788 RAY tokens, valued at approximately $2.26 million, into Binance. This transaction, as noted by Lookonchain, strongly suggests profit-taking by a whale capitalizing on the post-listing price increase. This event highlights the considerable speculative interest surrounding the RAY token following its Upbit debut. The rapid price appreciation and subsequent whale activity clearly demonstrate the volatility inherent in the cryptocurrency market.