Bonk Inu Team Burned All Their Initially 5 Trillion Allocated Tokens

    The development team behind the Solana-based memecoin project, Bonk Inu (BONK), revealed they have burned over 5 trillion tokens, equivalent to 5% of the total supply.

    Blockchain data confirmed this process, in which nearly $1 million worth of BONKs were removed from circulation.

    As a result, BONK’s circulating supply decreased by 5% to 94.16 trillion. The developers tweeted:

    BONK has managed to attract support from both centralized exchanges and decentralized applications in the past few days, such as and CremaFinance.

    Other Solana-based NFT marketplace and gaming sites have also introduced bonk-based minting and trading events, further promoting the utility of the memecoin for holders and investors.

    In a span of less than two weeks, the Bonk ecosystem has racked up over 50 integrations.

    Other data showed that BONK has seen 3 million transactions in the past three days, showing active participation from holders, which also surpassed Ethereum, as Bitcoin Magazine reported.

    Since January 6, the number of unique BONK-holding wallets has grown to over 86,000 from less than 25,000 earlier this week.

    However, BONK lost more than 56% of its value and dropped to a low of $0.00001512 before returning to 0.000001695 at press time, indicating that investors have pocketed substantial gains as Cryptocurrency platforms launch bonk future contracts, allowing traders to bet against tokens.

    Source: Coinmarketcap

    Follow our channels for more crypto news:

    Most Popular

    Related Posts