Raydium is a token. It has no blockchain of its own and no consensus of its own — it rents both from the chain it is issued on, which is why it is listed separately from the cryptocurrencies.
| CoinSpectrum Grade | D · 49/100 · provisional |
|---|---|
| Type | Token |
| Class | DEX |
| Backing | Non-backed |
| Market capitalisation | $470M |
| Price | $1.74 |
| Circulating supply | 269,963,563 RAY |
| Issued on | 1 chain |
Market data rebuilt every six hours; this build 28 October 2026. Live prices on the ranking.
D — 49 out of 100, provisional (from 8 of 10 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 39 to 59 (E to C).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms | 4.6 | group average |
| Host chain | 7.4 | Issued on Solana (A, 74/100) |
| Asset class (below every coin family) | 1.8 | Tokens: below every native coin family on the consensus ladders, 0.9 of 10 by largest asset and 2.7 by combined market cap |
| Network security | 0 | No network of its own: secured by its host chain, scored above |
| Decentralisation | 4.9 | group average, 3 of 4 measured |
| Minting and supply (who can mint more) | 10 | On Solana the RAY mint (4k3Dyj...kX6R) has mintAuthority null; supply is 554,997,362 against the 555M cap.; fixed maximum supply source |
| Premine (pre-issued at launch) | 0 | 100% of supply pre-issued at launch. All 555M RAY were minted at genesis into six allocation wallets, mining reserve included; mint authority is disabled. source |
| Fundraising | 4.8 | Sold to the public or to investors: 52% of supply was the insiders' to sell, 6% sold. The 6% Community & Seed bucket covered seed investors (12-month lock, then linear to Feb 2024) and the Bonfida community sale. Investors, amounts and the split are not disclosed. source |
| Holder concentration | — | Not yet measured |
| Supply & Demand | 7.7 | group average |
| Supply & Demand | 7.2 | average of 5 measures |
| Exchanges (10 or more: 10) | – | exchanges not yet counted |
| Daily volume ($10K 0, $1B or more 10) | 5.7 | $10,283,356 traded in 24 hours; #204 by volume on the exchanges the site reads (scored on the median day of the last 2, $6,798,781) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 7.1 | 1.4% of its market cap a day, median of the last 3 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 8.2 | $1,316,067 within 2% of the price on 8 exchanges, 0.28% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 6.7 | $470M, 6.7 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8.5 | futures, options and margin positions 2.1% of its market cap |
| Supply (smaller is better) | 8.1 | fixed maximum supply of 555 million |
| Record (origin, claims, halts) | — | Not yet reviewed |
Ten criteria, weighted equally — for a token, the host chain replaces the developer share, the asset class stands in for the consensus ladders, and who can mint more for the Cryptocurrency Standards. Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
| Pre-issued at launch | 100% of supply |
|---|---|
| To team, investors and treasury | 52% of supply |
| Sold to the public or to investors | 6% of supply |
| Who can mint more | Fixed supply — no one can mint more |
| Fundraising | Private or venture funding |
All 555M RAY were minted at genesis into six allocation wallets, mining reserve included; mint authority is disabled.
The 6% Community & Seed bucket covered seed investors (12-month lock, then linear to Feb 2024) and the Bonfida community sale. Investors, amounts and the split are not disclosed.
On Solana the RAY mint (4k3Dyj...kX6R) has mintAuthority null; supply is 554,997,362 against the 555M cap.
publicLaunchPct is null: the Bonfida community-sale share inside the 6% bucket is not disclosed. The 8% Liquidity bucket would count only if it was seeded into public pools, which is not documented. soldPct 6 treats the whole Community & Seed bucket as sold. Mint authority was checked live via Solana RPC.
Sources: docs.raydium.io · blockworks.com · tokenomist.ai. Researched 2026-10-23, medium confidence.
It is issued on one chain. Linked names are chains that are themselves cryptocurrencies with a page here.
CoinSpectrum counts an asset once. A token has neither its own blockchain nor its own consensus mechanism, so it fails both of the site's two conditions — it is a thing issued on a chain, and the chain is what is counted. The methodology states the rule, and the argument for it is set out in full.
Listed, not hidden. The point is that it is measured as what it is.