RAY Token Takes a Nosedive! Is Pump.fun Up to No Good? 🤔💰

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Oh dearie me! Raydium’s very own token, RAY, has taken quite the tumble, plummeting down like a clumsy elephant on roller skates! This all comes amidst whispers and giggles that Pump.fun, the cheeky little Solana(SOL)-based meme coin launchpad, is dabbling with its own Automated Market Maker (AMM). What a pickle! 🥒

But shush! Neither Pump.fun nor Raydium has bothered to comment, leaving the market to stew in its own speculation soup. 🍲

Pump.fun’s AMM Testing Sends RAY Spiraling!

In just a day, RAY has nosedived by a whopping 31%! At the time of this scribble, it’s trading at a measly $2.9, the lowest it’s been since the spooky month of October 2024. Yikes! 😱

What caused this ruckus, you ask? Well, a clever little detective known as “trenchdiver” uncovered a test version of an AMM lurking under the mysterious URL “amm.pump.fun.” And just like that, it spread like wildfire on the social media platform X (formerly Twitter). 🔥

“Pump.fun is working on their own AMM liquidity pools, which is currently being tested on amm.pump.fun,” the user chirped. 🐦

Now, this is no small potatoes! Raydium has been the big cheese in the AMM and liquidity provider game on the Solana blockchain, enjoying a cozy relationship with Pump.fun. But hold your horses! 🐴

The launchpad lets users whip up and launch meme coins at a bargain, while Raydium provides the liquidity magic. Once these tokens start to strut their stuff, they waltz right into Raydium’s trading pools, boosting volume and raking in swap fees. Currently, Raydium takes a 0.25% swap fee, cashing in on the trading frenzy Pump.fun brings. 💸

However, it seems Pump.fun is plotting a sneaky shift—potentially whisking away trading volume and fees to its own liquidity pools. Oh, the audacity! 😲

This crafty move could mean more fees for Pump.fun or even new rewards for token holders, directly challenging Raydium’s reign in the decentralized exchange (DEX) kingdom. 👑

“This move could really hurt Raydium’s business,” an analyst quipped, rubbing their chin thoughtfully. 🤔

Meanwhile, the first token to join this experimental liquidity pool is the notorious CRACK meme coin. If these pools turn out to be a hit, Pump.fun might just cut the cord with Raydium entirely, leaving it to fend for itself! 🥳

So, what’s next for Raydium? It might have to whip up a new strategy or risk losing a vital source of revenue. The battle for Solana’s liquidity is heating up, and the market is already buzzing like a swarm of bees! 🐝

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2025-02-24 15:30