The original code of Raydium, RAY, faced significant declines amid increasing speculation that Pump.fun, the leading Meme Coin Meme Coin company in Solana (SOL), tests its automated market maker (AMM).
No pump attached.
Pump.fun’s Amm Testing Sparks Raydium (RAY) Sele
During the past day, Ray witnessed a 31 % decrease in value. At the time of this report, the distinctive symbol was traded at $ 2.9. This represents his lowest price since late October 2024.
It seems that the decline has been played by discovering an AMM test under the title URL “amm.pump.fun”. Monitor this “Trenchdiver”, “Trenchdiver”, and soon gained traction via the X (previously Twitter) social media platform.
“Pump.fun works on its AMM liquidity bathrooms, which are currently tested on AMM.POMP.fun” to publish.
The effects of this step are great. Raydium is the leading AMM company and liquidity on Solana Blockchain. It has long benefited from its symbiotic relationship with pump.fun.
Launchpad allows users to create and launch Meme coins at a low cost, while Raydium provides liquidity infrastructure. Once these symbols acquire traction, they enter Raydium trading pools, driving and generating exchange fees. Currently, Raydium receives 0.25 % exchange fees, where he gets a trading activity pump.
However, Pump.fun appears to turn its strategy – specifically transfer the trading volume and fees away from Raydium to their liquidity pools.
This would allow the platform to collect more fees on Solana or introduce new bonus mechanisms for the distinguished symbol, which is a direct challenge to Raydium’s domination in the DEX’s ecosystem.
“This step can really hurt Raydium’s works,” an analyst, analyst He said.
Meanwhile, the first combined distinguished distinctive in the experimental liquidity gathering is the Mimi Crak currency. If these complexes prove their success, POMP.fun can reduce their dependence on Raydium completely, breaking the partnership that historically fueled Raydium growth.
Therefore, Raydium may have to control its strategy or risk losing a major revenue. The battle for Solana’s liquidity is its heating, and the market is already interacting.
Disintegration
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