Raydium lost the $2.5 level and dropped to around $2.15, down 13%, while trading volume surged 35%. On October 12, spot netflows plunged to -$1.3 million, with selling pressure overwhelming buying activity and a buy-sell delta of -$1.17 million. Despite this selling pressure, futures netflows reached $1.2 million, up 227%, and perpetual volume nearly tripled to $9.9 million, indicating traders remained active around RAY. The $2 level represents a critical support; if broken, the price could decline toward $1.8.
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