Key Points
- Upbit listed RAY on June 19, supporting the KRW and USDT markets.
- RAY price spiked by over 20% following the listing announcement.
The biggest crypto exchange in South Korea, Upbit, listed Raydium (RAY) on June 19.
Raydium is an automated market maker (AMM) and liquidity provider that is built on the Solana network for the Serum DEX.
It offers on-chain liquidity to a central limit orderbook, which means that the funds deposited into Raydium are converted into limit orders on Serum’s orderbook. This gives Raydium LPs access to all of Serum’s order flow and their existing liquidity.
Upbit’s RAY Listing Details
On June 19, Upbit revealed in an official announcement that it would launch RAY at 12:00 KST and open trading for the following pairs:
- RAY/KRW
- RAY/USDT
The crypto exchange also revealed the listing announcement in a post on X:
Raydium(RAY) KRW, USDT Market Support
✅ Supported Market : KRW, USDT Market
📅 Trading opens at: 2025-06-19 12:00 KST estimated🔗 Discover more:https://t.co/jXeEDyP9zl#Upbit #RAY@RaydiumProtocol pic.twitter.com/4dAEIJojS9
— Upbit Korea (@Official_Upbit) June 19, 2025
Following the crypto exchange’s announcement, RAY’s price spiked significantly.
RAY Price Spiked by Over 20%
Ahead of Upbit’s listing notes, RAY was trading at approximately $2.05 with a market cap of over $549 million. After the crypto exchange revealed its listing plans, RAY’s price spiked by more than 20% in a short amount of time, hitting $2.62 and reaching a market cap of almost $702 million before cooling off at current levels.
At the moment of writing this article, RAY is trading above $2.2, and the digital asset has a market cap of more than $600 million.
RAY is up by more than 9% in the last 24 hours. The 24-hour trading volume for RAY is over $387 million, up by over 570%.
After RAY’s listing on Upbit, Lookonchain revealed that a crypto whale by the name 256Ehs deposited 906,788 RAY worth approximately $2,26 million at the time of their post into Binance, possibly to sell the coin following the initial price pump.
