Why is it so fierce? A few key points:
The market is warming up, and the big brother is leading the way!
Recently, the entire cryptocurrency market seems to have a hint of 'bottom rebound', coming back to life.
Bitcoin, the 'big brother', has taken the lead and broken through the 110,000 mark, rising quite a bit since the second quarter. When the big brother rises, money in the market comes alive, and everyone's emotions rise as well.
When mainstream coins rise, the splash counts anywhere. Niche coins like $1000BONK that are backed by the $SOL ecosystem also benefit from the 'glow'. Plus, the popularity of meme coins hasn't faded; they are still in the spotlight. When market sentiment rises, money pours in without hesitation, that's the big picture.
The Solana ecosystem is really impressive!
Solana has recently been thriving, with its infrastructure becoming increasingly robust, and there are over 350 projects (like DeFi) now, with more and more people joining.
For example: it's like a place where the roads are well-built, and utilities are connected, naturally attracting more shops and residents. The Solana ecosystem is thriving; with 1000bonk as a 'local resident', its reputation has grown, its utility has increased, and the number of players has risen, providing natural price support.
Saga phone exchange, countdown to grab chips!
There's a big event: The Solana Saga phone's activity to get BONK tokens for free will completely end on July 31! It is estimated that over 88% of the tokens will be claimed by then.
The remaining unclaimed tokens will be returned to BONK DAO (community organization) for future ecosystem development.
What does this news mean? Brothers think: once the event ends, the remaining tokens might have new uses (like burning, new project airdrops, etc.), making these tokens more valuable in the future! So, a bunch of people thought, 'Hurry up and buy some before the event ends,' flooding in money, and the price naturally rose.
ETF expectations have painted a big cake!
There’s a company called Tuttle Capital that wants to create an ETF specifically to long BONK with 2x leverage (a type of fund). Although it hasn't been formally approved yet, the market is wildly speculating that it might start on July 16.
This news is like a seed! Everyone is calculating: if it really happens, compliant big money will flow into the BONK market, won't the BONK price soar? 1000bonk, as a related token, will definitely benefit! Therefore, savvy investors quickly set up positions to buy, buy, buy! A large amount of funds flooded in, and the price instantly skyrocketed.
Trading volume has exploded, and everyone is going crazy!
The data doesn't lie: in the past few days, the trading volume of 1000bonk has surged over 315%! What does this mean? The number of buyers and sellers has exploded!
The trading volume has reached 37.71%. What does this mean? Everyone is frantically grabbing chips! They are afraid of buying too late or too little. The number of buyers far exceeds the number of sellers; if it doesn't skyrocket, it really isn't normal!
Summary:
The overall market environment has warmed up (timing), the Solana ecosystem is thriving (location), the Saga event is about to end + expectations of ETF big cake (people), plus trading volume has exploded (funds driving), with the right timing, location, and people, directly sending 1000bonk to the sky!
