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

PANews reported on July 17 that Raydium, a decentralized exchange based on Solana, announced on Wednesday that it has cumulatively allocated $190.4 million for RAY token buybacks. The platform will repurchase a portion of RAY tokens from the open market, funded by its revenue. According to data shared by contributor 0xINFRA on X platform, this action has brought Raydium's cumulative buyback total to 69.1 million RAY tokens, approximately 25% of the circulating supply. The RAY token's most recent trading price was close to $2.99, and at this price, the token's nominal market value is around $800 million. However, after accounting for the repurchased tokens, the market value adjusted for circulating supply will be close to $593 million.