Raydium's RAY jumps 14% as negative funding fuels short squeeze prospects
- —RAY gained 14% in a day and over 150% since early September
- —Peaked at $2.56 on October 7, up roughly 184% from $0.90
- —Open interest rose from $13M to $20M as funding fell to -0.20%
- —Raydium handled $6.1B of Solana's $12.4B tokenized stock volume
Why it matters: Negative funding alongside rising open interest raises short squeeze risk, while tokenized equity volumes give RAY genuine demand support.
Source: AMBCrypto