After successfully launching the TerraM token on the Solana blockchain, I looked for markets to list the token. That’s how I came across Raydium.
I like the Raydium network because it was relatively easy to create a USDC/TerraM market and start providing liquidity for TerramM coins.
As I’m new to Raydium (and the Solana blockchain), I’m still learning. To better understand what Raydium is and how it works, I decided to take a look at the largest markets by liquidity pool
Raydium (RAY) is an automated on-chain order book (AMM) market maker built on the Solana blockchain, leveraging decentralized exchange Serum (DEX)’s central order book to enable lightning-fast trades, shared liquidity and new returns generate
As of December 27, 2022, the total value locked (TVL) was approximately $37 million, while the 24-hour volume was $2 million.
Top 10 Largest Markets for Raydium (as of December 27, 2022)
- RAY / USDC / $2,179,080
- ZBC/USDC/$2,061,145
- SOL/USDC/$1,686,166
- RAY/SOL/$1,595,788
- RAY / USDT / $1,147,413
- USDT / USDC / $1,072,112
- PRISM / USDC / $642,018
- SOL/USDT/$610,357
- SLIM/SOL/$556,418
- AUDIO / USDC / $548,637
Raydium Liquidity Pools
Compared to the total crypto market cap ($800 billion), these numbers seem modest to say the least, but then again, Raydiun and Solana are only a small part of the total crypto market cap (dominated by BTC and ETH).
The largest markets on Raydium together generate about $11.5 million in liquidity, about 30% of the entire network. I bet you haven’t heard of most of the coins listed above (except USDC, USDT and SOL)
From the coins listed above – RAY – USDC pair – native token for the Raydium, followed by ZBC-USDC (Node idea), SOL-USDC (Solana native token), PRISM-USDC (no idea). SLIM (no idea), AUDIO (no idea)
USDC and USDT are themselves stablecoins with very large market caps, so I don’t think it’s necessary to delve deeper.
I was able to find more about these coins at CoinmarketCap, all are well within the top 100
- RAY / Rank #484
- ZBC / Rank #717
- PRISM / Rank #1063
- SLIM / Rank #1070
- Place #151
Well, just some raw data to explore and work with in the future.
Speaking of the TerraM coin, which is also listed on Raydium, our liquidity is under $200, and we’re not even listed on CoinMarketCap yet.
It will be interesting to see how the Raydium network will evolve and how the TerraM coin will grow in this ecosystem over time.
Trade USDC for TerraM on Raydium
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers
Comments are closed.