A Telegram buying and selling bot for Solana-based memecoin has reached the $250 million mark in every day buying and selling volumes, outpacing Coinbase’s complete Base chain.
The meme coin frenzy seems to be signaling indicators of reaching its prime as even buying and selling bots now rivaling complete sidechains in buying and selling exercise. In response to data from analytical service Dune, BonkBot, which facilitates buying and selling of Solana’s meme coin BONK, has reached a powerful every day buying and selling quantity of $251 million, producing practically $1.4 million in charges.
For comparability, data from DefiLlama reveals that the Coinbase-powered Base sidechain recorded roughly $212 million in every 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, based on CoinMarketCap. Initially conceived by Solana fanatics within the aftermath of FTX’s collapse in November 2022, BONK aims to boost optimism throughout the Solana ecosystem. It has swiftly gained traction inside Solana’s neighborhood, serving as an incentive for varied functions constructed on the blockchain.