A Telegram buying and selling bot for Solana-based memecoin has reached the $250 million mark in each day buying and selling volumes, outpacing Coinbase’s whole Base chain.
The meme coin frenzy seems to be signaling indicators of reaching its high as even buying and selling bots now rivaling whole sidechains in buying and selling exercise. In response to knowledge from analytical service Dune, BonkBot, which facilitates buying and selling of Solana’s meme coin BONK, has reached a formidable each day buying and selling quantity of $251 million, producing almost $1.4 million in charges.
For comparability, knowledge from DefiLlama exhibits that the Coinbase-powered Base sidechain recorded roughly $212 million in each day buying and selling quantity, whereas Polygon witnessed $156.8 million. Ought to its progress trajectory proceed, BonkBot’s subsequent goal could be Thorchain, which boasts a buying and selling quantity of $307 million as of Mar. 19.
Regardless of the exponential progress in buying and selling quantity, the BONK token itself is dealing with challenges, experiencing a 21% decline to $0.0000204, in response to CoinMarketCap. Initially conceived by Solana fans within the aftermath of FTX’s collapse in November 2022, BONK goals to spice up optimism throughout the Solana ecosystem. It has swiftly gained traction inside Solana’s group, serving as an incentive for numerous purposes constructed on the blockchain.
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