$BONK has attracted considerable attention in the market.
As an important participant in the Solana ecosystem, BONK has transcended its simple meme coin positioning and is moving towards broader development directions.
$BONK has now become the core asset of Pump.fun, a meme coin issuance platform that occupies half of the market on Solana.
It is worth noting that the platform uses 50% of the transaction fees for repurchasing and burning
$BONK, a mechanism that is expected to provide long-term support for the token's value.
From the data, the Pump platform's transaction fee revenue reached an astonishing $700 million last year.
According to the existing mechanism,
BONK will receive half of that in the long term, which amounts to about $150 million to $200 million per year for repurchase.
This substantial influx of funds will undoubtedly have a positive impact on BONK's market performance.
From a market capitalization perspective, BONK still has considerable growth potential.
Even considering only its value as a meme coin, its historical highest market cap is double what it is now.
If we take into account the Pump platform's valuation of about $4 billion, the reasonable market cap for $BONK could be close to $5 billion, while the current market cap is only around $2 billion.
I personally find BONK's development prospects worth looking forward to.
It is not just a meme coin project, but is also closely tied to a rapidly growing platform.
As the market further recognizes its value, $BONK is expected to create new highs in the future.
