- Solana’s BONK memecoin gained traction as whales accumulated.
- The surge in Solana network activity has been reflected in massive increases in SOL prices.
The OKX exchange recently witnessed the listing of Solana (SOL) tokens, including BONK, a memecoin that has been gaining significant attention within the cryptocurrency community.
whale comes in
Rising interest in BONK has sparked an accumulation of whales. This is an example of a trader who made a $6.9 million profit on BONK after strategically buying and selling significant amounts.
This Smart Trader Earned ~$6.9 Million $BONK wrote 386 $SOL($40,000) $3.29 billion purchase $BONK Again today!
He has accumulated 371.4B $BONK In 9 months for just $6,998 $SOL($276,000) Sold half of it. $BONK city $BONK 50,139 surge $SOL($5.2 million).https://t.co/pOFRD2ndI8 pic.twitter.com/lkgGm13G0e
— Lookonchain (@lookonchain) January 9, 2024
At the same time, Solana has experienced a notable increase in activity, with daily active addresses increasing by a whopping 141% over the past 90 days, according to data from Artemis.
This increase in engagement is a positive sign for the network, indicating a growing user base and increased utilization.
Over the past three months, we’ve seen daily active addresses on almost every chain.
The largest absolute increases are:
1) Solana (299K)
2) Suburbs (279K)
3) Polygon (238K)
4) BNB Chain (161K)
5) ZK synchronization (89K) pic.twitter.com/1TjoX5XuF1— Hasib >|< (@hosseeb) January 9, 2024
increasing development
Solana’s development further strengthens its position in the market. The ecosystem has made significant advancements in tools, developer experience, and content quality.
With 2,500 to 3,000 monthly active developers throughout 2023, Solana has proven its ability to attract and retain top-tier talent. Developer retention rates exceeding 50% highlight the commitment of new developers to the SOL ecosystem.
1/ In 2023, the Solana developer ecosystem has made significant advancements in tools, developer experience, and content quality.
The Solana ecosystem currently has over 2,500 monthly active developers in open source repositories and a developer retention rate of over 50%. https://t.co/XwByL3HSuR🧵 pic.twitter.com/UnglforurA
— Solana (@solana) January 8, 2024
Solana’s hackathons have seen significant participation, with over 900 entries submitted to the recent Hyperdrive Hackathon.
This shows that the developer community is thriving and the network is establishing itself as an attractive platform for future developers.
How much is 1,10,100 SOL worth today?
Considering these positive developments, the token price reflected overall optimism.
At press time, SOL was trading at $100.54, showing an impressive 11.2% growth over the past 24 hours.
Source: Santiment