Raydium Price Rises 64% as Tokenized Stock Trading Shifts to Solana

Raydium has experienced significant growth in trading volume and token price, driven largely by the migration of StonkFun’s tokenized stock launches to its LaunchLab platform on September 5. Trading pairs featuring tokenized stocks generated $4.14 billion in volume during the third quarter, representing a more than twofold increase compared to the second quarter. These tokenized stock assets accounted for 28% of Raydium's total volume in September, contributing to a 64% rise in the price of the RAY token over a 30-day period. The protocol has implemented a new fee structure where a portion of creator fees from graduated launch tokens is directed to the protocol, with 12% of fees in main pools funding RAY buybacks. Despite this momentum, data from Pine Analytics suggests that reliance on single-partner launchpads can lead to volatility, as evidenced by a historical 79% drop in launchpad fees following similar surges. Current October fee projections indicate a potential decline compared to the $44.6 million generated in September. This trend highlights the impact of RWA-linked activity on decentralized exchange liquidity and protocol revenue models. The shift underscores how tokenized equity products are increasingly serving as a catalyst for activity on the Solana blockchain.