Bonk token goes bonkers as traders chase after high yields in the Solana ecosystem

Bonk Goes Bonkers: Traders Chase High Yields in the Solana Ecosystem...

Meme token Bonk's rise         Shiba Inu inspired, it flies         117% increase seen         Solana's SOL also gleams         With a 34% price rise, all sighs of sadness flee Get ready for the rise of the meme token! Bonk, inspired by the beloved Shiba Inu, has exploded in popularity with a 117% price increase over the past 48 hours.  But Bonk's success isn't just good news for holders of the meme token — it's also had a huge impact on the price of Solana (SOL). SOL saw a 34% price increase in the same time period, and its price has reached above $14 for the first time since December 14th. Bonk, the first dog token on the Solana blockchain, was initially airdropped to Solana users with the goal of cleaning up toxic Alameda-style token economics.  The airdrop resulted in over $20 million in trading volume, according to the Solana decentralized exchange Orca.  Solana has seen a boost in usage thanks to Bonk, with a 18.6% increase in 24-hour fees and a 15.8% increase in daily active users. While Bonk may just be a meme token, its success is a promising sign for the future of the Solana blockchain. This is a sign that Vitalik Buterin may get his wish that Solana gets a "chance to thrive." Read the full story here on Cointelegraph. Want to catch the "next" Bonk token before it takes off? Leverage the same AI technology that Cointelegraph's journalists use to surface the latest tokens with the NewsQuakes™ service only available on Markets Pro — subscribe now. Russell DeCorte Director Markets Pro © 2022 COINTELEGRAPH MARKETS PRO COINFIDENTIAL. Copyright © 2023 Cointelegraph Markets Pro, All rights reserved. You are receiving this email because you opted in at our website. Our mailing address is: Cointelegraph Markets Pro 21 W 46th St New York, NY 10036-4119 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.