Raydium Rises 11.5% as Ferrari’s $RACE Token Launch Boosts Trading Interest

Raydium (RAY) rose 11.5% as its total value locked (TVL) reached approximately $1.34 billion, drawing attention to the Solana decentralized exchange as Ferrari’s tokenized stock launched on the network.

Ferrari’s new $RACE token became available on October 6, allowing users to trade tokenized exposure to the automaker through platforms including Raydium, Phantom and Jupiter. The launch adds another real-world asset to Solana’s growing on-chain trading market.

The combination of rising liquidity and a high-profile token launch has put Raydium in focus. However, the price increase alone does not establish that the Ferrari launch caused the entire move.

Ferrari Shares Arrive on Solana as $RACE

Ferrari’s $RACE token launched on Solana through Sunrise and Backpack Securities on October 6. Each token is backed by one Ferrari share held in custody, according to launch reports.

The token allows eligible users to access Ferrari-linked exposure through crypto trading platforms rather than relying solely on traditional stock-market infrastructure. It can trade around the clock on supported decentralized exchanges, subject to liquidity and issuer arrangements.

Raydium is among the platforms where users can trade $RACE, alongside Phantom and Jupiter. This gives the Solana-based exchange another way to participate in the growing market for tokenized equities.

The development also reflects a broader shift toward bringing traditional financial assets onto blockchains. Other companies and platforms have been exploring tokenized stocks, which can provide blockchain-based exposure to assets traditionally traded through financial markets.

Related: NYSE and Blockchain.com Sign Tokenized-Stocks MOU

Raydium’s TVL Reaches $1.34 Billion

Raydium’s total value locked reached approximately $1.34 billion, according to DeFiLlama data. TVL measures the value of assets deposited in a decentralized finance protocol and is commonly used to track its liquidity and usage.

The figure places Raydium among the major decentralized trading venues in the Solana ecosystem. Its liquidity pools allow users to swap tokens without relying on a traditional centralized exchange.

The Ferrari launch could bring additional trading activity to Raydium if users choose the platform to access $RACE. However, the size of that effect will depend on actual trading volume, available liquidity and demand for the tokenized stock.

TVL is also not the same as trading volume or revenue. A rise in deposits can indicate stronger liquidity, but it does not automatically mean that the protocol will generate more fees or that its RAY token will continue rising.

Why Tokenized Stocks Matter for Solana

Tokenized stocks represent financial assets through blockchain-based tokens. Depending on the issuer and legal structure, they may track an underlying stock without giving token holders the same rights as direct shareholders.

Their appeal includes access through crypto wallets and the possibility of trading outside traditional market hours. However, availability, redemption terms, price tracking and investor rights depend on the specific product and issuer.

Ferrari’s $RACE launch gives Solana users another example of how these products can connect traditional markets with decentralized trading infrastructure.

For Raydium, such launches could create additional opportunities to attract traders and liquidity. The longer-term impact will depend on whether tokenized assets generate sustained activity rather than short-lived interest around a launch.

Can RAY Sustain Its 11.5% Rise?

RAY’s reported 11.5% gain puts the token in focus, but traders will need to watch whether the move is supported by continued activity.

Three factors are particularly important: trading volume for $RACE, changes in Raydium’s TVL, and broader demand for Solana-based decentralized exchanges.

If tokenized stocks attract more users, Raydium could benefit from additional swaps and liquidity demand. If activity fades after the initial launch, the price reaction may prove temporary.

For now, Ferrari’s entry into Solana’s tokenized-stock market provides a fresh development for Raydium. The key test is whether the launch translates into lasting trading activity and protocol growth.