Solana ecosystem DEX Raydium has repurchased over $190 million worth of tokens

On July 17, Raydium, a decentralized exchange based on Solana, announced on Wednesday that it has allocated a total of $190.4 million to repurchase $RAY tokens. The platform will repurchase a portion of $RAY tokens from the open market, with funds coming from its revenue. According to data shared by 0xINFRA, a contributor on the X platform, this move brings Raydium's cumulative repurchase total to 69.1 million $RAY, accounting for about 25% of the circulating supply. The $RAY token was last traded at close to $2.99, and at this price, the token's nominal market value is approximately $800 million. However, after taking into account the repurchased tokens, the market value adjusted for circulation will be close to $593 million. [PANews]