2024

Solana

Bonk

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<ul>
 <li>Bonk emerges as the highest gainer in 2023.</li>
 <li>As a result, Solana’s volume and TVL increased.</li>
</ul>
A recent <a href="https://twitter.com/coingecko/status/1742395599687950423?t=zDuHpA8z9-cPyzyc3eLxHg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinGecko</a> report revealed that <a href="https://ambcrypto.com/search/bonk" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bonk [BONK]</a> emerged as the top gainer among major assets in 2023. This meme coin, introduced on the <a href="https://ambcrypto.com/search/solana" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Solana [SOL]</a> blockchain, witnessed an impressive gain of over 7,300% in value in the year.
 Despite being introduced before 2023, Bonk gained significant momentum during 2023, leading to its listing on various exchanges.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 What were the top crypto gainers of 2023?
 Our study shows that the top 10 crypto gainers saw returns ranging from 632.8% to 7,302.9%.
 Read the full study: <a href="https://t.co/VnUOm17Aum" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">https://t.co/VnUOm17Aum</a> <a href="https://t.co/XHxovk8SRw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/XHxovk8SRw</a>
 — CoinGecko (@coingecko) <a href="https://twitter.com/coingecko/status/1742395599687950423?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">January 3, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h4>How the Solana-based Bonk has performed</h4>
AMBCrypto’s examination of the Solana-based token showed a positive beginning to 2024. On the 1st of January, <a href="https://ambcrypto.com/will-bonk-retrace-100-of-its-gains/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">BONK</a> noted a 13% increase in value. 
However, by the close of trading on the 2nd of January, it had experienced a decline of over 10% in value. As of the current writing, the token was trading with a slight gain of nearly 2%.
<div id="attachment_361928" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSD_2024-01-03_11-01-47.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-361928" decoding="async" class="size-full wp-image-361928" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSD_2024-01-03_11-01-47.png" alt="BONK/USD price trend" width="1491" height="785" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSD_2024-01-03_11-01-47.png 1491w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSD_2024-01-03_11-01-47-300x158.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSD_2024-01-03_11-01-47-1024x539.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/BONKUSD_2024-01-03_11-01-47-768x404.png 768w" sizes="(max-width: 1491px) 100vw, 1491px"></a>
 Source: Trading View
</div>
<h4>How the Bonk listing impacted Solana</h4>
An examination of Solana’s volume on <a href="https://defillama.com/chain/Solana?volume=true" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">DefiLlama</a> showed a positive impact on the network following Bonk’s listing on major exchanges. The volume chart illustrated a notable rise around the 15th of December, coinciding with Bonk’s listing. 
Before this, the volume had gradually risen, but it experienced a significant increase on the 15th of December, reaching over $1.4 billion.&nbsp;
The volume continued to rise in the subsequent days, peaking at over $2.6 billion on the 22nd of December. This marked the highest volume the network had witnessed since its launch. As of press time, the volume was around $5.45 million.
Furthermore, the Total Value Locked (TVL) demonstrated a substantial increase towards the end of the year. The TVL chart indicated a gradual rise starting around November 2023, with a pronounced rise aligning with the increased volume. 
During November 2023, the TVL was around $653 million. However, at press time, the TVL was over $1.47 billion, showing the positive impact of Bonk’s listing on both volume and Total Value Locked on the Solana network.
<h4>How SOL has reacted</h4>
According to data from CoinGecko, <a href="https://ambcrypto.com/a-solid-comeback-solanas-2024-hopes-hinge-on-these-predictions/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Solana</a> experienced the sixth-highest gains in 2023, with an increase of around 974% over the year.
Read <a href="https://ambcrypto.com/predictions/solana-price-prediction" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Solana’s [SOL] Price Prediction</a> 2024-25
A closer examination of the daily timeframe chart revealed a substantial upward trend in its price, particularly in the final month of 2023. During this period, the price of SOL rose from around $70 to over $100. 
SOL maintained its position within the $100 price range, trading at about $108 as of this writing. While the chart showed some recent declines in the past few days, the overall trend remained above $100.
<div id="attachment_361929" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/SOLUSD_2024-01-03_11-34-20.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-361929" decoding="async" class="size-full wp-image-361929" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/SOLUSD_2024-01-03_11-34-20.png" alt="SOL/USD price trend" width="1491" height="785" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/SOLUSD_2024-01-03_11-34-20.png 1491w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/SOLUSD_2024-01-03_11-34-20-300x158.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/SOLUSD_2024-01-03_11-34-20-1024x539.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/SOLUSD_2024-01-03_11-34-20-768x404.png 768w" sizes="(max-width: 1491px) 100vw, 1491px"></a>
 Source: Trading View
</div>

Of Bonk’s lift-off in 2023 and its impact on Solana

AMBCrypto

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