crypto_blick ∞ 神

The downfall of $BONK explained: - launches on Solana on December 25, 2022 - immediately after the FTX collapse - community token built to bring activity back to Solana - 50% of the supply is distributed to the community - 297K wallets Late 2023: BONKbot - BONKbot becomes one of the strongest products connected to the ecosystem - allows users to trade Solana tokens directly through Telegram December 2023: the explosion - Coinbase listing - Binance listing - BONK becomes one of the biggest memecoins on Solana 2024: expansion - OKX adds BONK spot and perpetual trading in January - BONKrewards introduces locking and rewards for BONK holders - BonkSOL expands the ecosystem into liquid/staked SOL November 2024: the peak - BONK reaches an ATH of $0.00005825 on November 19 - market cap reaches $4B at the peak And another major product was coming. 2025: BONK fun - launches as a Solana memecoin launchpad - part of the economic model directs fees toward the BONK ecosystem including buyback/burn mechanics - reaches a 55.2% share of Solana token launches - processes $540M in volume - facilitates 175K token launches - generates $34M in fees for a period, BONK’s ecosystem was beating Pumpfun on its own battlefield 2025- 2026: the decline - BONK fun revenue becomes dependent on launchpad speculation - BonkSwap fails to become a major Solana DEX - BONKrewards eventually displays “No new staking deposits available” - BonkSOL loses part of the TVL it previously attracted The problem becomes increasingly obvious: BONK built products. But owning BONK was not the same thing as owning equity in those products. Then things get much worse. June 30, 2026: the malicious proposal - a governance proposal appears inside BonkDAO - the proposal seeks control of 4.426T BONK from the treasury instead of exploiting a traditional smart contract vulnerability, the attacker targets governance itself July 6: the DAO attack - the malicious proposal passes - 4.426T BONK is transferred from the treasury - the transfer happens just 49 seconds after voting ends stolen BONK is valued at $20M The attacker effectively bought enough influence to make the DAO authorize the transfer. July 18: attacker tokens start moving - 400B BONK is reportedly transferred to Coinbase Late July: - another reported 1.186T BONK is moved toward centralized exchanges - 3.2T BONK reportedly remains in the related wallet August 7: mixed news - Bithumb removes BONK from its watchlist - Upbit announces it will terminate BONK trading support September 7, 2026: - Upbit is scheduled to terminate BONK trading support at 15:00 KST - withdrawals are expected to remain available for a limited period afterward one of the exchanges that helped BONK expand in Korea is now preparing to remove it Today: - BONK market cap sits at $217M - down 39% the last 30 days - down 95.8% from its price ATH market cap collapsed from $4.04B to $217M A total of $3.8B in market value has disappeared from the peak