Solana’s Bonk, Avax leads gain amid high selling pressure

The global digital asset market recorded a slump for the second consecutive day as Bitcoin price dropped to the $41k price level. However, Solana’s leading meme coin BONK and Avalanche registered major gains, decoupling from the market sentiments.

Solana’s Bonk turned out to be one of the top gainers of the day. It registered a gain of over 7% in the last 24 hours. However, Bonk price has been up by 430% in the last 30 days. It is trading at an average price of $0.000013, at the press time. Its 24 hour trading volume is down by 22% to stand at $138 million.

BONK is now the third-largest meme coin by market capitalization, overtaking PEPE. It holds a market cap of $804 million, while Pepe’s market cap has declined to stand at $594 million.

Bonk’s price came in when the biggest meme cryptos like Dogecoin (DOGE) and Shiba Inu (SHIB) witnessed a slump. DOGE and SHIB price are down by 4% and 2%, respectively. 

However, the cumulative meme crypto market cap is down by over 1% in the last 24 hours. It now stands at $22.8 billion. The trading volume is down by 24% to stand at $2.2 billion.

Avalanche (AVAX) is also making waves with a surge of 13% in the last 24 hours. It has already registered a gain of 120% over the past 30 days. AVAX is trading at an average price of $40.88, at the press time. However, its 24 hour trading volume is up by 16% to stand at $3.1 billion.

This surge has come in when the crypto market saw a marginal decrease. The total crypto market cap stands at $1.58 trillion. However, the trading volume has jumped by 9.22%, reaching $79.73 billion.

Coinglass data depicts that. 62k traders were liquidated in the past 24 hours. The total liquidations stand at $182.07 million.

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