The platform Bonk.fun, operating on the Solana network, has significantly strengthened its position in the memecoin market, surpassing Pump.fun with a 55.2% market share.
Bonk.fun's Strategy
The foundation of Bonk.fun's success lies in its unique fee distribution strategy. Half of all revenues are allocated to purchasing and burning BONK tokens, while 8% is set aside for accumulating BONK as reserves. These transactions are transparently traceable on the blockchain. Currently, the platform generates over $1 million daily, burning nearly half a million dollars worth of BONK every 24 hours.
Success in the Memecoin Market
Bonk.fun attracts users with its fast transaction confirmation speeds. In January 2024, Pump.fun had amassed $800 million in fees over two years, a lead Bonk.fun overturned in just two months. Analysts predict that if the current revenues persist, BONK buybacks could exceed $180 million by year-end, leading to a contraction in the total supply of the token.
USELESS Coin and Its Impact
Despite its ironic name, USELESS, launched on Bonk.fun, has quickly reached a market value exceeding $100 million, enhancing the platform's liquidity. It has been reported that during peak liquidity hours, USELESS coins generate millions in volume within minutes.
The state of the memecoin market continues to change, and Bonk.fun demonstrates rapid improvement in its position, attracting attention from both users and investors.
