Why did Raydium drop 12.5% on October 29, 2026?
RAY largely moved with the market. This is RAY's largest 24-hour fall in 29 days. No RAY report was collected from the day before to the day after; the cause is unresolved.
What may have driven the move
No clear cause was found for this move.
Weaker possibilities: Negative RAY perpetual funding at 08:00 UTC and again at Oct 30, 00:10 UTC is consistent with traders paying to hold short positions; this could have added downward pressure. (OKX perpetual swap: settled funding, OKX perpetual swap: funding rate)
What was checked
No confirmed event explains the fall. Perpetual-market data offers a possible, but uncertain, amplification mechanism.
Did bearish derivatives positioning amplify selling, or did it follow the fall? The available data does not establish what initiated the move.
Looked at the 24 hours to Oct 30, 2026, 00:10 UTC
- Day open / close
- $1.81 → $1.5924 hourly candles, OKX · USDT
- Day range
- $1.56 – $1.8216.4% from low to high
- Versus the past month
- Its largest 24h fall in 29 days-12.52% in the 24 hours to Oct 30, 2026, 00:00 UTC, 4.3× a typical day (2.9%).
- 30-day range
- 38.4% below the high · 1.5% above the lowFrom hourly highs and lows on the same venue
- 24h volume
- 0.8×of its prior 30-day daily average
- Where it traded
- Binance 15% · Raydium (CLMM) 12% · BTCC 7%includes on-chain pools
- Perpetual swap
- funding strongly negative · open interest risingOKX perpetual swap RAY-USDT-SWAP
Computed from OKX · USDT hourly candles for the 24 hours to Oct 30, 2026, 00:00 UTC. Methods →
RAY timeline around October 29, 2026
Largest closed hourly move: -4.95%, Oct 29, 2026, 06:00–07:00 (UTC).
How often has this happened before?
Since 2021-02-23, RAY has fallen 10% or more in a UTC day 56 times on Gate · USDT daily closes, counting moves within 7 days of each other once. Seven days later it was higher in 23 of 56 cases, with a median change of -2.67%. This is history, not a forecast.
| After the move | Cases | Higher | Median change |
|---|---|---|---|
| Next day | 56 | 26 | -0.77% |
| 7 days later | 56 | 23 | -2.67% |
| 30 days later | 55 | 17 | -17.70% |
Latest 10 episodes: 2026-10-12, 2026-09-28, 2026-09-13, 2026-01-31, 2025-11-03, 2025-10-10, 2025-05-30, 2025-04-06, 2025-03-20, 2025-03-03 (UTC)
One venue’s daily closes, before costs; the coin’s own survived history, so it says nothing about coins that no longer trade. Past episodes are not a forecast.