Bonk Boosts Over 4000%, Solana Co-Founder Shares Future Plans – Crypto News – Crypto News
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Bonk Boosts Over 4000%, Solana Co-Founder Shares Future Plans – Crypto News

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BONK is up by 4335.25% in the last 6 days. It is the first meme crypto on Solana blockchain and has been responsible for boosting the price of SOL token in the past week.

Solana was affected drastically due to its relation with Alameda research and the collapsed leading crypto exchange ftx. The price and trading volume had been dropping sharply since FTX filed for bankruptcy.

Huobi exchange, MEXC Global, and Bybit also announced listing of the token due to the increased interest among investors. BONK is being compared to meme cryptos like Dogecoin and shiba inuthat gained massively in the bull market,

Also read: How Solana Meme Token BONK Sharp Selloff Will Impact SOL Price?

Solana Co-Founder Shares His Vision

Amidst all this, the co-founder of Solana took to his Twitter handle to talk about the decentralized system and social layers in it. He says that L1 blockchains are a conglomeration of social networks, financial systems, state systems, national governments, cultural movements, payments networks, hft exchanges, consumer goods, and memes.

He adds that it’s challenging to get any of these things perfect on the L1 blockchain and to get it completely right seems impossible.

The past several weeks have been a significant step forward in the validation, but there is still a ton of work to be done. He added that extremely talented engineers are working on it.

Also read: SHIB Vs BONK: Shiba Inu Ecosystem Tokens SHIB And BONE Chase BONK Hype

Solana’s price boost

Bonk is currently seeing a boost of 1004.64% in the trading volume in the last 24 hours. The market cap for the crypto is at 228.752 million USD. Each BONK token is costing 0.000004122 USD, an increase of 138.61% in the last 24 hours. However, Solana has fallen down by 5.33% in the last 24 hours and the trading volume has dropped by 43.33% over the last day. However, the crypto saw a massive jump in the past 7 days as it went as high as 14.03 USD. It was trading at 8.1689 USD on 30th December, 2022 and is trading at 13.25 USD on 5th January, 2023.

Shourya mainly reports on Cryptocurrency Prices, NFTs and Metaverse. Graduated and post graduated in Journalism, she always wanted to be in business field. Connect with her at [email protected] or tweet at Shourya_Jha7

The content presented may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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