Raydium, a Solana-based DEX, is reportedly planning to introduce a meme cryptocurrency factory alternative to Pump.fun.
The upcoming Raydium LaunchLab will ensure exponential logarithmic bonding curves matching the asset’s price and demand (similar to Pump.fun).
JUST IN: Raydium set to launch token launchpad called LaunchLab, that will initially resemble a direct fork of PumpFun.
The only difference is that it will allow third-party UIs to determine their fees.
Further, Launchlab will support many quote assets and leverage Raydium’s liquidity supplier to allow users to secure swap fees for coins in perpetuity.
Notably, these speculations surfaced nearly a month after news of Pump.fun replacing Raydium as an automated market maker.
Rumors of an upcoming Pump.fun’s AMM triggered substantial declines in RAY price and DEX’s revenue.
Is Raydium responding to the replacement with its meme Launchpad?
Contributor Infra told Blockworks that they started developing Launchpad months ago but remained under the radar.
RAY price outlook
LaunchLab rollout speculations triggered significant rebounds for the DEX’s native token over the past 24 hours.
RAY soared over 20% from the $1.603 low to the daily high of $2.063.
It led today’s gainers as the market remains indecisive ahead of the Fed’s policy meeting.
Raydium’s token trades near $1.91, up nearly 15% on the daily chart.
The robust daily trading volume suggests renewed investor and trader optimism, which could catalyze continued upswings.
RAY has plummeted in the past few sessions, losing over 60% within the past month.
Pump.fun’s automated market maker rumors and broad-based crypto market underperformance contributed to RAY’s crash.
Also, faded interest in themed tokens after events such as TRUMP’s disappointment and LIBRA scam repelled most enthusiasts.
Meanwhile, RAY’s future remains bright as the DEX plans to launch its meme token factory.
Solana outperformed the previous bull run as its ecosystem became the hot spot for new themed cryptocurrencies.
Current meme crypto landscape
Raydium’s meme Launchpad speculations emerge as meme tokens struggle with bearish tendencies amid declined user interest.
The market cap of meme tokens extended its decline (with a 3% plunge) in the past day to $51.60 billion (CoinGecko data).
Dwindling profitability in the sector highlights the grim situation.
DeFiLlama shows Pump.fun’s fee revenue plunged by over 90% from January 25 to $802K at press time.
That indicates faded meme token buzz on Pump.fun, and the declining graduation rate for new tokens testifies to that.
Graduated coins are memes that proceed to Solana DEXs after meeting specific trading and liquidity requirements.
Pump.fun’s asset graduation rate has declined from 1.63% on Jan 20 to 0.97% at this publication (Dune Analytics stats).
The plummeting revenue and asset graduation rate indicates distressed interest in SOL meme cryptocurrencies.
Experts believe it might take time before the crypto space recovers from the latest meme token bloodbath.
I think we have collectively underestimated the impact of this memecoin downturn.
$80B wiped out in a few months.
Likely disproportionally affecting folks who show up here every day (CT).
Many people likely down 80-90% if not totally zeroed out.
That’s money which isn’t…
Will Raydium revive the meme token space with its Launchlab?
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