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Raydium Crypto Price – A Potential Moonshot?

 


Moonshots. A dream many of us try to catch, but often we are too late to get in. But is Raydium a realistic possibility? Is Raydium legit?

Let’s find out!

What is Raydium Crypto?

Raydium is a cryptocurrency built for the Raydium/Serum decentralised crypto exchange. What this means is that it’s built to act as an automated market marker (AMM) and to provide liquidity in trading pairs. The Raydium platform is built on the Solana blockchain, and is an example of blockchain scaling.

The token was launched in early 2021, meaning that in 2022, it’s only a year old. Given that it’s a utility token, it has huge potentials.

Raydium Tokenomics

Raydium has a total supply of 555M tokens, and each token (as of writing this article) is worth $3.35 US dollars. This means, it has a total market cap (again, as of writing this article) of $316M US dollars. This means it’s still a relatively small project, with the potential to reach in the billions in the future.

The token’s all-time-high (ATH) price is $16.93, from during the 2021 bull market; this means it could go even higher the next bull run. Today, it costs $3.35 to purchase and potentially could be a great investment as the supply is limited.

Raydium can also be obtained via staking and liquidity farming in the DEFI pools and farms on its DEX, raydium.io.

Conclusion

Raydium is potentially a great investment for good returns; but there is also a chance the price falls further and further. The Solana blockchain is known for its potential centralisation issues and downtimes, but so far this has not prevented the Solana cryptocurrency from being one of the top 10 coins on coinmarketcap.com. Given Raydium is officially backed by the Solana team, it could well potentially be a big crypto token in the future!

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