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Key Takeaways:
- LetsBonk tops memecoin revenue, doubling Pump.fun’s 24-hour earnings.
- UAE denies Toncoin visa link, causing a 6% price dip.
- $8.6B in Bitcoin moved, but no signs of a sell-off.
It was another eventful day in crypto, marked by sharp revenue shifts, regulatory denials, and whale wallet movements. From Solana’s booming memecoin launchpads to Toncoin’s visa-related controversy and Bitcoin’s dormant wallet awakening, the market continues to evolve at breakneck speed.
LetsBonk Overtakes Pump.fun in Memecoin Race
Solana-based memecoin launchpad LetsBonk recorded a major victory on Monday, generating $1.04 million in 24-hour revenue, nearly doubling rival Pump.fun’s $533,412. The data, sourced from DeFi aggregator DefiLlama, reveals a notable shakeup in memecoin dominance, where Pump.fun had long held the top spot.
Launched on April 25, LetsBonk is backed by the vibrant Bonk (BONK) community and is positioned as a “self-serving launchpad for memecoins” that challenges predatory launch tactics. BONK itself boasts over 430,000 followers on X, a $1.8 billion market cap, and $1.2 billion in daily volume, according to CoinGecko—fueling further momentum for the launchpad.
UAE Denies Toncoin Golden Visa Claims
Meanwhile, Toncoin (TON) suffered a setback after UAE regulators denied rumors that staking the token could lead to residency. The Federal Authority for Identity, Citizenship, Customs and Port Security, among others, clarified that digital assets are not linked to golden visa eligibility, despite The Open Network’s initial claims.
Toncoin’s price spiked to $3.03 on Sunday but dropped 6% within 24 hours, erasing gains made after the now-debunked announcement. Officials emphasized that investors should rely on verified, official sources to avoid misinformation.
$8.6B in Dormant Bitcoin Moves — But It’s Not a Sell-Off
In one of the day’s more curious events, blockchain intelligence firm Arkham reported that $8.6 billion worth of Bitcoin, untouched for over 14 years, was transferred across eight wallets. Each transaction moved 10,000 BTC, sparking speculation of a potential sell-off.
However, Arkham reassured the market that there are “no indications of selling.” The firm suspects the activity was a technical upgrade from legacy Bitcoin addresses to more secure Native SegWit (bc1q) addresses, offering lower fees and better security.
Also Read: Elon Musk’s America Party Embraces Bitcoin Amid Trump Feud
From shifting memecoin dynamics and policy corrections to historic Bitcoin moves, today’s developments show a market that’s growing more sophisticated, interconnected, and cautious.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
