Raydium Launches Its Own Memecoin Platform Called "LaunchLab" Targeting Pump.fun

Popular decentralized exchange Raydium is branching out to launch its own memecoin platform called “LaunchLab,” designed to rival Pump.fun.

Popular decentralized exchange Raydium is venturing into launching its own memecoin platform named "LaunchLab," designed to compete with Pump.fun, according to a recent report by The Block.

This initiative follows Pump.fun’s recent development of a custom-built automated market maker (AMM) system, which some have speculated could lead to the replacement of Raydium. The two platforms have been closely intertwined, with Raydium generating a significant portion—over 35%—of its revenue from Pump.fun.

Despite Pump.fun’s rapidly increasing popularity since its launch earlier this year, Raydium has maintained that it would be unwise to replace their service, as it could result in miscalculations.

However, Raydium’s own standing in the crypto derivatives market is undeniable. In 2024 alone, the exchange is projected to generate around $154 million from its swapping services, with daily liquidity pool earnings expected to exceed $1 million.

This success is partly fueled by Raydium's role in facilitating market trades for tokens that attain a $69,000 market cap on Pump.fun. These tokens are then integrated into LaunchLab when their bonding curve is fully realized, and the tokens begin shifting between the two platforms.

In essence, LaunchLab aims to extract key elements from Pump.fun’s structure—specifically the logarithmic bonding curve—while introducing several enhancements. Among these is the capability for third-party interfaces to adjust fees and siphon liquidity directly from Raydium’s pools.

With several months of development already invested in the project, LaunchLab is poised to play a significant role in the future of token launches and trading within the Solana ecosystem.

input: Bitcoin (BTC) price is struggling to break through the $50,000 level, with traders remaining cautious ahead of the upcoming U.S. inflation figures.

According to Benzinga’s analysis, several technical indicators suggest that BTC could be approaching a key resistance zone.

On Monday, Bitcoin encountered resistance at the 61.8% Fibonacci level, encountered from the March 2024 low, on its way to testing the 50% Fibonacci level from the 2021 all-time high.

This resistance was encountered at the $49,000-$50,000 range, where the price encountered selling pressure.

If the buyers manage to push the price above this zone, the next resistance is anticipated at the 50% Fibonacci level, located at around $53,000.

However, the Relative Strength Index (RSI) on the four-hour chart suggests that the price could be approaching a technical overbought territory.

The RSI is currently at 64, and if the price continues to rise without significant pullbacks, the RSI could reach overbought levels, which might lead to a period of consolidation or a small correction.

Moreover, the Bollinger Bands are also suggesting that the price might be approaching a key resistance zone.

The price is currently trading near the upper Bollinger Band on the four-hour chart, which suggests that the bulls are in control, but the price is likely to face selling pressure if it tries to move further higher.

Overall, several technical indicators suggest that Bitcoin could be approaching a key resistance zone in the $49,000-$50,000 range.

If the buyers manage to push the price above this zone, the next resistance is anticipated at the 50% Fibonacci level, located at around $53,000.

However, the RSI on the four-hour chart suggests that the price could be approaching a technical overbought territory, and the Bollinger Bands suggest that the price is likely to face selling pressure if it tries to move further higher from the upper band.output: Bitcoin (BTC) price is struggling to break through the $50,000 level, with traders remaining cautious ahead of the upcoming U.S. inflation figures.

According to Benzinga’s analysis, several technical indicators suggest that BTC could be approaching a key resistance zone.

On Monday, Bitcoin encountered resistance at the 61.8% Fibonacci level, encountered from the March 2024 low, on its way to testing the 50% Fibonacci level from the 2021 all-time high.

This resistance was encountered at the $49,000-$50,000 range, where the token encountered selling pressure.

If the buyers manage to push the price above this zone, the next resistance is anticipated at the 50% Fibonacci level, located at around $53,000.

However, the Relative Strength Index (RSI) on the four-hour chart suggests that the price could be approaching a technical overbought territory.

The RSI is currently at