Summary
- BONK has risen 4% over the last day, reaching a price of $0.0000218.
- Trading volumes spiked to over 574 billion tokens during this increase.
- The financial firm Galaxy Digital has launched a $1B Solana fund, signifying increasing institutional backing for the ecosystem.
Detailed Overview
The meme token BONK, associated with the Solana platform, has experienced a notable 4% increase, hitting $0.0000218 before settling slightly lower at around $0.0000213. This growth was particularly pronounced around 19:00 UTC, where the price surged 1.9% in a short time due to a significant volume uptick.
Despite selling pressures capping the price momentarily, consistent buying support has appeared near $0.0000212. CoinDesk Research indicates that BONK traded within a volatile 8% intraday range.
The continuous growth in institutional trust is highlighted by Galaxy Digital and others forming a billion-dollar investment fund for Solana, exceeding existing asset allocations. This could lead to enhanced liquidity for Solana-based projects, with BONK among the top tokens being traded.
In a related move, beverage company Safety Shot has made a significant allocation of $25 million in BONK to help reach its broader fundraising target, showcasing the token’s expanding utility beyond traditional markets.
Disclaimer: Parts of this article were generated using AI tools. For accuracy and editorial standards, it has been reviewed by human editors.
