Donkey (DONK) news

SOL and Meme Coins Are Booming Again

Solana (SOL) has made a strong comeback, briefly crossing $180 after months of underperformance. This week alone, its price jumped by about 21%, and its TVL rose 52% month over month to $9.5 billion—just shy of its all-time high. As investor confidence returns, activity is surging, especially with memecoins like $MOODENG, $GOAT, and $PNUT, which have seen gains of over 150% to 560% in just a week. Trading volume on Solana’s DEXs reached $9.8 billion on Sunday, the highest in three months. Memecoins made up about 30% of that. New platforms like BonkFun and Believe are challenging pump.fun as meme coin launchpads, hinting at a competitive shift. Solana’s top aggregator, Jupiter, recently held over 70% of volume but has since dropped to 55.5%. Much of the trading appears driven by bots, which have generated over $1 billion in revenue. This creates a cycle: memecoins attract liquidity, liquidity boosts rankings, bots follow the action, and metrics surge—even if not much new money is entering. Meanwhile, the broader economy is supportive. Stocks are up, inflation is cooling, and Bitcoin holds strong. For now, it’s a rare moment of good vibes across markets. Source: Blockworks Futures Market Updates In the past 24 hours, both BTC and ETH futures saw declines in open interest, with ETH dropping more sharply (-3.08%) than BTC (-1.67%). ETH futures also experienced a significantly steeper decline in trading volume (-32.13%) compared to BTC (-10.26%). Despite lower open interest, ETH had substantially higher liquidation amounts, especially on the long side, suggesting more aggressive long positioning was unwound. Both markets show a near-even long/short ratio, slightly favoring shorts, and ETH futures had a higher funding rate (0.0061%) than BTC (0.0020%), indicating stronger long-side demand in ETH. BTC Futures Updates Total BTC Open Interest: $65.89B (-1.67%) BTC Volume (24H): $82.15B (-10.26%) BTC Liquidations (24H): $18.75M (Long)/$9.00M (Short) Long/Short Ratio: 49.51%/50.49% Funding Rate: 0.0020% ETH Futures Updates Total ETH Open Interest: $31.59B (-3.08%) ETH Volume (24H): $85.19B (-32.13%) ETH Liquidations (24H): $62.95M (Long)/$23.02M (Short) Long/Short Ratio: 48.92%/51.08% Funding Rate: 0.0061% Top 3 OI Surges LAUNCHCOIN: $45.69M (+1163.35%) MYX: $1.53M (+404.40%) DONKEY: $1.48M (+184.31%) Follow Bitget X to win 1 BTC