BONK tops the ranking in terms of Q4 growth rate with an indicator of 7547%

What’s new? According to CryptoDiffer analysts, the Solana blockchain-based “dog” meme token BONK came out on top in terms of growth rate in Q4. Since October 1, the asset has jumped by 7547% and is trading at $0,00001571 as of December 27, 12:40 UTC. BONK’s surge has largely contributed to increased activity in the Solana ecosystem, with the native SOL token climbing from sixth to fourth place in the cryptocurrency market capitalization ranking over the past week, overtaking XRP and BNB at $47,84 billion. Santiment analysts noted that Solana is the most popular topic of discussion in the crypto community.

Source: Twitter.com

What else is known? CryptoDiffer’s top growth rate includes other Solana ecosystem projects, including the Neon platform for connecting decentralized applications (DApps) to the Ethereum blockchain, the Solanium multi-chain launchpad, and leading decentralized exchanges (DEXs) Raydium and Orca. Their native coins NEON, SLIM, RAY, and ORCA have increased in value by 4038 / 1115 / 837 / 674% respectively over the past three months.

In mid-December, Solana became the second most traded coin on DEX after Ethereum, rising 54% to over $3 billion in a week. In particular, on Raydium and Orca trading volumes jumped by 70%.

By December 27, Solana had moved into first place in terms of trading volume on the DEX, with a daily figure of $1,447 billion, according to data from analytics platform DeFiLlama.

Solana network’s number of new addresses in December updated the record at 6,8 million

The number of active addresses also peaked at 15,6 million

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Earlier, analysts at crypto exchange Binance explained the outpacing growth of the Solana ecosystem compared to other Layer 1 (L1) networks by the increased activity of developers: a number of leading projects announced airdrops for their participants. In particular, on December 11, Solanium announced the distribution of coins based on activity during the previous two years, the same day the BONK team announced an airdrop.

Earlier, analysts of the CoinGecko aggregator compiled the top 10 largest airdrops in 2020-2023, where BONK took the seventh place. Thus, last year the project team distributed coins with a total value of $1,325 million.

Source: Twitter.com