Solana BONK on-chain activity spiked with 200 signatures in the last window.
On-chain:
- Top wallet cluster holds 15.2M BONK, 4.3M transferred in the last 24 hours
- Another cluster, 0x7f...d6b, holds 8.1M BONK, with 2.1M transferred recently
- BONK transfers are predominantly small, averaging 0.1M tokens per swap
Flow:
- Holding time for BONK has decreased, with 70% of tokens transferred in the last 2 hours
- Swap sizes have increased, with 20% of transactions above 1M BONK
- Recent spikes in BONK activity correlate with Solana's recent price increase
Risk:
- Thin liquidity on BONK pairs, with most exchanges holding under 1M tokens