Latest news with #Solana-based
Yahoo
6 days ago
- Business
- Yahoo
BONK Drops 4% With Volatility Exceeding Altcoin Average
BONK traded under sustained selling pressure on Wednesday falling 3.9% to $0.00002383 in 24 hours. The Solana-based memecoin swung between a high of $0.00002486 and a low of $0.00002360, a range that translated to 50.3% volatility, well above the altcoin average, according to CoinDesk Research's technical analysis data model. Multiple attempts to reclaim higher ground were rejected near the $0.00002480 resistance zone, where persistent selling capped intraday rallies. Volume surged to 682.03 billion tokens during the 21:00 UTC hour on Aug. 5, coinciding with price stabilization near $0.00002360, a level that saw repeated intervention by buyers. The token saw a sharp 0.53% rebound during the European afternoon on Wednesday, rising from $0.00002374 to $0.00002387. The gain came after the token dipped to $0.00002361. Volume exceeded 35 billion tokens between 13:36 and 14:04 UTC, indicating a blend of institutional accumulation and possible short covering as traders repositioned. Technical Analysis Price Range: 50.3% volatility between $0.00002486 high and $0.00002360 low. Session Decline: 3.9% drop from $0.00002477 to $0.00002383. Support Zone: Established at $0.00002360 with multiple volume-backed rebounds. Resistance Level: Firmly held at $0.00002480 with institutional distribution patterns. Volume Highlights: 682.03B tokens traded at 21:00 UTC; 35B+ during 13:36–14:04 bullish reversal. Trend Structure: Late-session reversal implies potential shift in short-term sentiment despite persistent macro headwinds. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-08-2025
- Business
- Yahoo
Pump.fun memecoin dominance plummets as rival projects lure traders
memecoin dominance is cracking amid rising competition and diminishing interest in industry joke coins. The controversial token generator, that has made almost $780 million, in fees since its launch in January 2024 accounted for less than half of all new memecoins on the Solana blockchain in the last 24 hours. It's a notable break from dominance of the Solana memecoin market, which was as high as 90%, in terms of tokens created daily, just two months ago Instead, LetsBonk has become the new power player with more launches, and seemingly more momentum. LetsBonk accounted for 18,620 token launches in the last 24 hours, according to a Dune dashboard by the analyst who goes by Adam_Tehc. That's more than twice the number managed on and the first time another platform has outpaced in a single day. The results aren't just about the number of tokens launched in a single day. LetsBonk tokens were more successful than their counterparts in another key metric: the number of memecoins that graduated. On token generators like and LetsBonk, a newly launched memecoin graduates when it raises enough Solana 2coins on its bonding curve to be listed on a decentralised exchange like Raydium. In the memecoin world, graduating could mean visibility to traders and possibly virality. Competition among these token launchpads has grown even fiercer as Solana's memecoin mania has cooled. Memecoins peaked as a crypto market segment at $127 billion in December but have since slumped to $56 billion. What's driving the rise of LetsBonk? The platform reinvests half of the fees earned to buy Bonk, a $1.7 billion Solana-based memecoin. Data from the platform's website shows $5.3 million worth of Solana has been used to buy back Bonk. Meanwhile, routinely sells off the Solana coins earned from fees without any investment in its community. The stakes for couldn't be higher, especially amid reports of a $1 billion initial coin offering, or ICO. hasn't publicly confirmed the ICO. Despite losing its position as the largest token launcher on Solana, remains the most popular memecoin generator. The platform attracted almost three times as many users as LetsBonk in the last 24 hours.
Yahoo
02-08-2025
- Business
- Yahoo
Pump.fun aims to sell $1bn worth of tokens in ICO
the token vending machine that drove Solana's chaotic memecoin spring, is taking a page out of its own playbook: go viral and then monetise. On Wednesday, the controversial memecoin generator, which has earned more than $780 million in fees, announced its initial coin offering, or ICO, after weeks of speculation about a possible token generation that could happen either via an airdrop or a public sale. 'Our plan is to Kill Facebook, TikTok, and Twitch. On Solana,' said on X. The ICO announcement highlights how token sales are poised to make a return in 2025 after slowly fading after their 2017 and 2018 heydays when some 2,000 projects raked in over $13 billion through ICOs. They fell out of fashion as about a tenth of the money raised was lost to scams, according to Statis Group. Dozens of enforcement actions followed. ICO token sale will happen on July 12, with 330 billion tokens out of the 1 trillion total supply available to investors. Each token will be sold at $0.004, putting the targeted raise over $1 billion. Institutional purchasers will be allocated 180 billion tokens, while the remaining 150 million will go to public sale purchasers. Investors from the UK and the US are not allowed to participate in the ICO, according to the announcement. 'We're building to replace existing social platforms with one that gives instead of takes,' the memecoin generator said on X. Many aren't buying the narrative. Some detractors reacted to the announcement by saying that extracts far more than it gives, and turns low-effort joke coins into fee machines while investors are left in the lurch holding worthless tokens that crater in short order. 'Remember the word after Pump is Dump,' Adam Cochran, a crypto influencer, chimed in on X. ICO comes at a time when the once raucous gold rush for memecoins is at a low ebb. Since peaking at $127 billion in December, the market segment has since slumped to $56 billion. The decline has happened amid mounting controversy over failed memecoins and platforms like that allow them to be created en masse. But dwindling fervour for memecoins isn't only headache. The platform has lost its shine in recent weeks to a new rival. LetsBonk, another memecoin generator, has become the new power player in the sector. LetsBonk now hosts twice as many token launches each day compared to according to data from this Dune dashboard by the crypto analyst who goes by Adam_Tehc. LetsBonk give-back model has also helped the platform's rise as it reinvests half of its fee earnings to buy Bonk, a $1.5 billion Solana-based memecoin. The platform has spent more than $7 million worth of Solana to buy Bonk, according to details from its website. Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Cision Canada
31-07-2025
- Business
- Cision Canada
GK8 by Galaxy Expands Secure Institutional Access to Solana DeFi Protocols
NEW YORK, July 31, 2025 /CNW/ - GK8 by Galaxy, a leading institutional-grade digital asset custody platform, is expanding its secure decentralized finance (DeFi) access to include the Solana blockchain. Financial institutions and crypto funds can now securely interact with Solana-based decentralized finance protocols, such as Orca, Radium and Jupiter, using GK8's trusted, policy-controlled infrastructure already widely used for Ethereum Virtual Machine-compatible (EVM) chains. As DeFi becomes a vital component of institutional digital asset strategies, demand for access to Solana's high-speed, low-cost ecosystem continues to grow. GK8 meets this need by offering a seamless, compliant, and secure way to engage with Solana DeFi applications, without relying on third-party wallets or having to give up governance controls. "Crypto funds are diving deeper into DeFi – not just for yield, but as part of their core trading and investment operations," said Lior Lamesh, Co-Founder & CEO at GK8 by Galaxy. "With Solana DeFi now available through GK8, our clients can act on new opportunities without compromising on usability, security, or compliance." Seamless DeFi Access Across Solana and All Major Chains GK8's DeFi integration allows institutional users to: Transact directly with Solana and EVM-based protocols via MetaMask and WalletConnect Maintain full control while interacting with DeFi from GK8-managed uMPC (Unlimited Multi-Party Computation) wallets Enforce internal governance policies, including transaction- and role-based permissions, and multi-step approvals Initiate trades, swaps, and liquidity activity directly from GK8 managed accounts Achieve unmatched performance, with up to 7,500 signatures per second All DeFi activity, including on Solana, is routed through GK8's proprietary uMPC framework, ensuring institutional-grade security and compliance with internal policies. Built for Institutional Scale From OTC desks and asset managers to crypto funds and regulated financial institutions, GK8 empowers clients to tap into DeFi across multiple ecosystems, using their own infrastructure, with no fragmented tooling or vendor risk. Schedule a demo to explore institutional access to Solana DeFi with GK8: About GK8 by Galaxy GK8, a Galaxy (Nasdaq: GLXY) company, provides reliable and comprehensive self-custody technology for digital assets, enabling regulated self-custody, digital asset management, and token issuance. With its patented Impenetrable Vault and uMPC technology, GK8 empowers traditional financial institutions and crypto-native companies worldwide with the tools they need to navigate the digital asset economy with confidence. In a market where trust is an institution's most valuable asset, GK8 protects the institution's reputation by setting the highest standard for digital asset custody, paving the way for the mass adoption of digital assets. For more information, please visit Disclaimers and Additional Information Nasdaq has not approved or disapproved of the information contained herein. CAUTION ABOUT FORWARD-LOOKING STATEMENTS This release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). These forward-looking statements relate to the Tokenization Wizard launch and opportunities. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", "seeks" or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. The forward-looking statements contained in this release are based on our current expectations and beliefs concerning future developments and their potential effects on us taking into account information currently available to us. There can be no assurance that future developments affecting us will be those that we have anticipated. Forward-looking statements involve known and unknown risks uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. Inherent in forward-looking statements are risks, uncertainties and other factors beyond the Company's ability to predict or control. The forward-looking statements are subject to the risks regarding the product and launch. Factors that could cause outcomes to differ materially from those described in such forward-looking statements include, but are not limited to global developments, a delay or failure in the ability to launch and changes in applicable law or regulation. Readers are cautioned that such risk factors, unc ertainties and other factors are not exhaustive. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements in this release. The forward-looking statements in this release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward-looking statements.
Cision Canada
30-07-2025
- Business
- Cision Canada
Bybit Exclusive: DefiTuna (TUNA) to List on Bybit Spot
DUBAI, UAE, July 30, 2025 /CNW/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, announced the exclusive listing of DefiTuna (TUNA) on Bybit Spot in the Main Trading Zone. The native token of innovative Solana-based protocol DefiTuna, TUNA is the star of one of the most anticipated token generation events (TGE) in DeFi this season. Starting July 30, 2025 at 3:00 PM UTC, Bybit user can trade TUNA/USDT on Spot. All transactions will be processed through the Solana network, with TUNA also supported by Bybit Spot's automated Grid Bot functionality from launch. Eligible Bybit users will also get to join the TUNA Token Splash, exclusive on Bybit. TUNA is a revenue sharing token of Fusion AMM and DefiTuna. DefiTuna operates as an Automated Market Maker (AMM) built on Solana that empowers Liquidity Providers with unique capabilities. The platform allows users to take leveraged positions—both long and short—to potentially maximize profitability or create effective hedging strategies. By supporting both leverage trading and lending on-chain, DefiTuna delivers a seamless experience for Liquidity Providers and Lenders within a unified ecosystem. DefiTuna is the first decentralized leverage aggregation protocol within the Solana ecosystem to integrate three key components: Concentrated Liquidity Market Making (CLMM), leverage trading, and lending. As a DeFi platform focused on concentrated liquidity market making and leveraged position management, DefiTuna's innovative product positioning and user-friendly design occupy a unique position in the Solana ecosystem. This exclusive partnership positions Bybit as the primary destination for TUNA trading, providing users with first access to this innovative AMM protocol. #Bybit / #TheCryptoArk About Bybit Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at
