Raydium Sees 12% Correction Following Monthly Rally

Raydium (RAY) experienced a 12.06% price decline after a 138% monthly surge, driven by profit-taking and cooling market sentiment. Daily trading volume reached approximately $75.4 million during the sell-off. Derivatives data shows a decrease in Open Interest by 8.88% to $15.93 million, with long liquidations significantly outpacing short liquidations, indicating a reduction in leveraged bullish positions.