Share this article
Shiba Inu-Themed BONK Tokens Are Yielding Nearly 1,000% for Solana Liquidity Providers
The meme coin is up over 150% in the past 24 hours and have recorded some of the highest trading volumes on Solana-based decentralized exchanges.
Updated Jan 5, 2023, 4:37 p.m. Published Jan 4, 2023, 11:08 a.m.
A flat market and contagion risks aren’t deterring crypto traders from finding the next major narrative to generate returns, and a meme coin is at the center of that in the Solana (SOL) ecosystem.
Bonk, a Shiba Inu-themed token that was issued on Dec. 25, has returned 2,220% to traders in the past week, with a 150% rise in the past 24 hours alone. The token was airdropped to Solana NFT (non-fungible token) communities and creators, which led to quick hype and trading volumes for the token, as CoinDesk reported Tuesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Early investors aren’t the only ones gaining, however. Liquidity pools on Solana-based decentralized exchanges (DEXs) such as Orca have attracted over $20 million in volume for trading pairs involving BONK – cumulatively netting thousands of dollars in fees for liquidity providers.
Liquidity providers are investors who stake their cryptocurrency tokens on DEXs to earn transaction fees, usually in the form of token rewards.
Data from Orca shows the BONK/SOL pair has conducted over $14 million in trading volume, while the BONK/USD coin pair saw over $6.2 million. Both pools are paying out nearly 1% hourly to liquidity providers, or over 24% each day.
The metrics made bonk the most traded token on Orca, a popular Solana DEX, with trading volumes higher than even solana, usually the most popular trading pair with USDC.
As such, the yields are likely to be short-lived if the demand and hype for BONK slows down in the coming weeks and traders take profits.
Despite being fashioned as a meme coin, Bonk tokens are seeing steady adoption in the Solana ecosystem. Several Solana projects have already integrated Bonk tokens for use as payments for listed NFTs, and some introduced “burn” mechanisms for NFT-based events. Over 1 billion BONK was burned in the past 24 hours, according to tweets.
Meanwhile, the interest around bonk has likely contributed to the demand for SOL tokens. The native token of the Solana network is up 16% in the past 24 hours, erasing losses from a steep decline last week.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Aptos drops 5% to $1.50 as volume spikes above monthly average
The token has resistance at the $1.53 and then the $1.64 levels.
What to know:
- APT fell from $1.59 to $1.51 over the 24-hour period.
- Volume jumped 23% above the 30-day moving average, signaling institutional participation.
Top Stories
