Raydium’s RAY token climbed 90% in a week to an intraday high of $1.75 on Friday, its highest level since late October 2025, while the broader crypto market fell 3.9%. RAY gained 14.67% over 24 hours, ranked 117th by market capitalization and was the second-best performer among the top 300 cryptocurrencies behind STONK, which rose 1,220.8%. The rally followed StonkFun’s decision to route all new token deployments through Raydium’s LaunchLab, cutting deployment costs to 0.03 SOL from 0.29 SOL, a $640,788 RAY repurchase on September 9 and increased trading in tokenized equities. Raydium directs 12% of fees toward RAY purchases. Backpack Securities’ listing of Grindr’s GRND token generated $11 million in one hour, while more than 15 stock tokens, including Boeing, Costco and Roblox, launched through Backpack and Sunrise. Earlier reporting cited a 96.5% seven-day gain, $2.1 million in cumulative buybacks, record activity and continued spot-market selling, leaving the durability of the rally dependent on sustained trading volumes and demand.