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Telegram bot BonkBot tops $250m in each day buying and selling quantity

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A Telegram buying and selling bot for Solana-based memecoin has reached the $250 million mark in each 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 information from analytical service Dune, BonkBot, which facilitates buying and selling of Solana’s meme coin BONK, has reached a formidable each day buying and selling quantity of $251 million, producing almost $1.4 million in charges.

Telegram bot BonkBot tops $250m in daily trading volume - 1

BonkBot’s buying and selling quantity and charges | Supply: Dune

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For comparability, information from DefiLlama exhibits that the Coinbase-powered Base sidechain recorded roughly $212 million in each day buying and selling quantity, whereas Polygon witnessed $156.8 million. Ought to its development trajectory proceed, BonkBot’s subsequent goal can be Thorchain, which boasts a buying and selling quantity of $307 million as of Mar. 19.

Buying and selling quantity by chains | Supply: DefiLlama

Regardless of the exponential development in buying and selling quantity, the BONK token itself is going through challenges, experiencing a 21% decline to $0.0000204, in keeping with CoinMarketCap. Initially conceived by Solana fans within the aftermath of FTX’s collapse in November 2022, BONK goals to spice up optimism inside the Solana ecosystem. It has swiftly gained traction inside Solana’s group, serving as an incentive for varied purposes constructed on the blockchain.

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Learn extra: BONK surges 56% as meme cash achieve momentum

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