A Telegram trading bot for Solana-based memecoin has reached the $250 million mark in daily trading volumes, outpacing Coinbase’s entire Base chain.
For comparison, data from DefiLlama shows that the Coinbase-powered Base sidechain recorded approximately $212 million in daily trading volume, while Polygon witnessed $156.8 million. Should its growth trajectory continue, BonkBot’s next target would be Thorchain, which boasts a trading volume of $307 million as of Mar. 19.
Despite the exponential growth in trading volume, the BONK token itself is facing challenges, experiencing a 21% decline to $0.0000204, according to CoinMarketCap. Originally conceived by Solana enthusiasts in the aftermath of FTX’s collapse in November 2022, BONK aims to boost optimism within the Solana ecosystem. It has swiftly gained traction within Solana’s community, serving as an incentive for various applications built on the blockchain.
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