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BONK Drops $90 Million in Market Cap in 10 Days: Is the Buzz Over?

Bonk was controlling a market cap of $58,44 million as of this writing.This is a drop of approximately $90 million in the past 10 days.Millions of Bonk tokens had been burned...
BONK Drops $90 Million in Market Cap in 10 Days: Is the Buzz Over? BONK Drops $90 Million in Market Cap in 10 Days: Is the Buzz Over?
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  • Bonk was controlling a market cap of $58,44 million as of this writing.
  • This is a drop of approximately $90 million in the past 10 days.
  • Millions of Bonk tokens had been burned according to the Solana team.

The meme-based cryptocurrency, Bonk (BONK), recently had considerable capital inflows, but is now under selling pressure with the early enthusiasm around the token appearing to be waning.

At press time, BONK had a market cap of $58.44 million, representing a loss of about $90 million within 10 days. The token had a market cap of $150.94 million on January 6, according to CoinGecko data.

BONK 10-day market cap chart, source: Coingecko

It is essential to keep in mind that once this token was available for Solana (SOL) developers and the NFT community, BONK registered a price breakout in comparison to the rest of the market.

Industry experts noted that a price gain was also recorded for Solana after many weeks of correction, which was beneficial to the crypto since developers had recently shown support for the token.

On the same note, it was reported by the Solana team that millions of BONK tokens had been burned, and it is believed that the token will play an important part in the impending release of the Solana smartphone.

Solana Mobile additionally claimed that every pre-order for a Solana Saga phone would result in the burning of 5 million BONK tokens. These 5 million BONKs will allegedly be airdropped into the wallets used to purchase the Solana Saga smartphones.

In conclusion, BONK has been changing hands at $0.000001 in the past 24-hours with a trading volume of $21 million within the same period. On the upside, BONK has surged by 21.08% in the last 24-hours, pushing it to a CoinMarketCap ranking of No. 2,595.

The post BONK Drops $90 Million in Market Cap in 10 Days: Is the Buzz Over? appeared first on Coin Edition.

See original on CoinEdition

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03-03-2024 18:57:57 (UTC+7)

EUR/USD

1.0837

+0.0034 (+0.31%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

EUR/USD

1.0837

+0.0034 (+0.31%)

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Moving Avg:

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GBP/USD

1.2655

+0.0032 (+0.25%)

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Sell

Moving Avg:

Buy (4)

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USD/JPY

150.10

+0.12 (+0.08%)

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Buy

Moving Avg:

Buy (9)

Sell (3)

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Buy (5)

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AUD/USD

0.6525

+0.0031 (+0.47%)

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USD/CAD

1.3562

-0.0014 (-0.10%)

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EUR/JPY

162.73

+0.67 (+0.41%)

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EUR/CHF

0.9577

+0.0020 (+0.21%)

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Gold Futures

2,091.60

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Silver Futures

23.345

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3.8585

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79.81

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83.46

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US Coffee C Futures

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DAX

17,735.00

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FTSE 100

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Hang Seng

16,589.44

+78.00 (+0.47%)

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↑ Buy

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Buy (12)

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Sell (1)

US Small Cap 2000

2,076.39

+21.55 (+1.05%)

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IBEX 35

10,064.70

+63.40 (+0.63%)

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BASF SE NA O.N.

47.985

+0.910 (+1.93%)

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Bayer AG NA

28.33

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Allianz SE VNA O.N.

251.80

-2.05 (-0.81%)

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Buy

Moving Avg:

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Adidas AG

187.00

-0.12 (-0.06%)

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Deutsche Lufthansa AG

7.191

+0.003 (+0.04%)

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Sell

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Siemens AG Class N

181.28

-1.66 (-0.91%)

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Deutsche Bank AG

12.566

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Summary

Neutral

Moving Avg:

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Sell (6)

    EUR/USD 1.0837 ↑ Sell  
    GBP/USD 1.2655 Sell  
    USD/JPY 150.10 Buy  
    AUD/USD 0.6525 ↑ Sell  
    USD/CAD 1.3562 ↑ Buy  
    EUR/JPY 162.73 ↑ Buy  
    EUR/CHF 0.9577 ↑ Buy  
    Gold 2,091.60 ↑ Sell  
    Silver 23.345 ↑ Sell  
    Copper 3.8585 ↑ Sell  
    Crude Oil WTI 79.81 Buy  
    Brent Oil 83.46 ↑ Buy  
    Natural Gas 1.836 ↑ Buy  
    US Coffee C 184.13 Neutral  
    Euro Stoxx 50 4,894.05 Buy  
    S&P 500 5,137.08 ↑ Buy  
    DAX 17,735.00 ↑ Sell  
    FTSE 100 7,682.50 ↑ Sell  
    Hang Seng 16,589.44 ↑ Buy  
    Small Cap 2000 2,076.39 ↑ Buy  
    IBEX 35 10,064.70 ↑ Buy  
    BASF 47.985 ↑ Sell  
    Bayer 28.33 ↑ Sell  
    Allianz 251.80 Buy  
    Adidas 187.00 ↑ Buy  
    Lufthansa 7.191 Sell  
    Siemens AG 181.28 Sell  
    Deutsche Bank AG 12.566 Neutral  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,800/ 7,950
(7,800/ 7,950) # 1,808
SJC HCM7,780/ 8,030
(0/ 0) # 1,804
SJC Hanoi7,780/ 8,032
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