Raydium’s RAY token reached nearly $1.75 on September 11 and gained about 105% over the week, outperforming most major cryptocurrencies as StonkFun moved its launches to Raydium’s LaunchLab. The Solana launchpad pairs new tokens with tokenized stocks, pre-IPO tokens, ETFs and currencies, and the migration routed its trading activity through Raydium pools. Launch costs fell to 0.03 SOL from 0.29 SOL, while StonkFun generated $5.88 million in fees over seven days. Raydium directs 12% of collected fees toward open-market RAY purchases, producing a record single-day buyback of $640,788 on September 9 and bringing cumulative buybacks to $2.1 million. Usage also reached records, with 470,817 SOL staked, 162,085 active wallets, 3.1 million daily transactions and more than 204,000 holders. Tokenized-equity listings and trading activity added to the flow, although the rally remains dependent on sustained launchpad volume and speculative demand.