Institutional Demand Fuels BONK Launchpad Revenue Leadership
BONK rallied on rising institutional demand and a surge in derivatives volume, while its community-backed launchpad, letsbonk.fun, claimed 58.95% of Solana’s launchpad revenue on July 15—outpacing Pump.fun (25.95%) and Raydium (14.87%). The platform hosted 14,804 new token launches, deploying a bonding curve mechanism that uses half of all launch fees to buy and burn BONK, reinforcing its deflationary model. Trading volume peaked at 3.5 trillion tokens during institutional buying, pushing open interest up by 9% and underlining strong market conviction. Grayscale’s addition of BONK to its asset watchlist adds institutional validation. On July 15, BONK traded at $0.00002815, up 4.5% on the day and 24.7% over the week, with a market cap of $2.27 billion. Technical analysis shows BONK breaking out of a falling channel, with an RSI of 75 indicating strong momentum but potential short‐term overbought conditions. A daily close above $0.000030 could open the path to $0.000045, while failure may prompt a retest of $0.000022–0.000023 support. Ongoing community efforts to reach one million on-chain holders will trigger a planned burn of 1 trillion tokens, further tightening supply and supporting bullish momentum.
Bullish
The combined news of robust institutional demand, a surge in derivatives volume and open interest, plus leading Solana launchpad revenue share underscores strong bullish momentum. The deflationary mechanism—burning half of launch fees and a planned 1 trillion token burn upon reaching one million holders—reduces supply and supports higher prices. Technical breakout from a falling channel and RSI at 75 confirm positive short-term momentum, while clear resistance and support levels offer defined risk management. Grayscale’s watchlist inclusion provides additional validation. Overall, these factors point to continued upside potential for BONK in both the near and medium term.