Solana-Based Exchange Raydium’s RAY Dives 25% as Pump.Fun Appears to Test Its Own Exchange
Powered by @unfolded- Pump.Fun is reportedly testing its own automated market maker (AMM), which could impact Raydium's trading volumes and token sentiment.
- RAY tokens have dropped 25% in response to the potential launch of Pump.Fun's AMM, as traders speculate that Pump tokens may no longer migrate to Raydium.
- Pump.Fun has been highly profitable, generating over $550 million in fees since March 2024, and facilitating $2.4 billion in trading volumes in just two weeks.
- The new AMM feature could enhance Pump.Fun's revenue streams, as it allows users to issue tokens with minimal capital and manage their own liquidity pools.