Bonk is the new Shiba Inu-themed meme token on the block, and traders' embrace of the token could be a catalyst behind Solana’s $SOL recent 34% rally.
Blockchains like Solana benefit from increased usage. After the FTX collapse, Solana saw multiple
. On Jan. 4, Solana saw an 18.6% increase in 24-hour fees and a 15.8% increase in 24-hour daily active users.In addition to fees and daily active user increases, SOL price rallied above $14 on Jan. 4 for the first time since Dec. 14. Some crypto market participants are attributing Bonk’s growth to Solana’s price action.
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