Bittime -The Solana crypto world has been abuzz with therecentmeme coinMarket players who utilize trading bots take large profits from high price fluctuations.
Check Today's Crypto Market:
BOME: Fast Rising and Corrected
In just three days after launch, BOME's market value skyrocketed to above $1.1 billion, even reaching a peak of nearly $1.5 billion. This Fear Of Missing Out (FOMO) euphoria prompted the launch of many new meme coins on the Solana network, making the number of active users reach its highest point in the last month.
However, after listing on Binance, BOME price fell 50% from its high point, indicating the potential for sudden corrections that often occur in this highly speculative market.
Also read: BOME prices skyrocket 1800% in a week, what's the secret?
SLERF: The New "God Board"?
The newly launched meme coin, SLERF, succeeded in taking advantage of BOME's negligence. With the right momentum, support from influential figures, and community enthusiasm, SLERF quickly gained traction.
This illustrates the fast-moving meme coin trend, where investors are always looking for crypto assets that have the potential for the next big profit.
Also Read How To Buy Crypto:
Solana Ecosystem and Bots: Biggest Winners?
Many speculate that the Solana ecosystem is the driving force behind this meme coin wave. Allegedly, the Solana Foundation and various DEX (decentralized exchange) on Solana also reap profits, both directly and indirectly.
However, it could be said that trading bots are the ones who benefit the most from this frenzy. Like “water sellers near a gold mine,” bots take advantage of market volatility without facing the same risks as human traders. According to statistics, the bot's revenue shot up to above $5.33 million in a day.
BonkBot Dominates, Other Players Catch Up
Daily trading volume analysis shows the unprecedented popularity of meme coin Solana, even surpassing the previous “Silly Silly Dragon” hype. BonkBot emerged as a dominant player, commanding a significant share of the Solana bot market and generating a fantastic $1.3 million in daily revenue. Defillama data shows BonkBot transaction fees surpass established DeFi protocols such as Aave and Maker.
Meanwhile, Pepe Boost has experienced its fastest growth recently. By focusing on meme coins and educational content, they managed to quickly gain market share.
Check Crypto Prices Today:
Distributor Benefits and Future Trends
Interviews with bot distributors show daily handling costs can reach tens of SOL. Plus Pepe Boost's estimated daily fee revenue of between 3,000 SOL to 6,000 SOL further highlights the profitability of bot operations in this volatile market.
Although the current meme coin craze is highly profitable for bots, the future of this trend is still uncertain. Potential corrections and changes in market dynamics can affect bot profitability.
How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Also
Is It Appropriate to Stake Solana (SOL) during the 2024 Bear Market?
Starknet Roadmap 2024: Faster Transactions, Lower Fees!
10 Crypto Websites for Newbies, Start Your Crypto Adventure!
Dubai Digital Asset Law: DIFC Sets New Regulations
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.