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Meme coin bonk passes $TRUMP in market capitalization

Bonk’s $1.75 billion valuation makes it the largest meme coin on the solana blockchain.

7/7/25 12:00PM

Solana has a new meme coin leader.

Dog-based cryptocurrency Bonk jumped 57.6% in the last seven days, reaching a market capitalization of roughly $1.73 billion, dethroning the president’s $TRUMP token, which sits at a $1.72 billion market cap. Bonk is now the most valuable meme coin in the Solana ecosystem and the fourth-largest meme coin overall, behind dogecoin, shiba inu, and pepe.

Crypto users have generated over $1 billion in trading volume for bonk over the last 24 hours, multitudes higher than last week when the figure was under $200 million, data pulled from CoinGecko shows.

“I don’t think bonk flipping $TRUMP has much direct signal to it when examined alone, but bonk’s re-rating is certainly important,” Ian Unsworth, cofounder of crypto research firm Kairos, said.

LetsBonk leaps in platform activity

Bonk’s price action comes as its meme coin launchpad, LetsBonk.Fun, has seen an increase in activity. LetsBonk jumpstarted a hackathon competition on Sunday as several meme coins emerging from the token launchpad have reached new all-time high valuations.

USELESS, a token that rolled out in May from LetsBonk, has had a meteoric rise and now has a market cap of $255 million with a liquidity level of $3.7 million, per analytics trading platform DexTools.

Meanwhile, LetsBonk’s daily fees on Sunday reached a record level, surpassing $1 million, according to blockchain analytics firm DefiLlama. Half of the platform’s fees generated from on-chain activity, such as token launches, are dedicated to the buyback and burning of the bonk meme coin. LetsBonk has earmarked 34,453 solana tokens, or $5.2 million at current prices, to date for the buyback and burning of bonk.

Pump.Fun, responsible for fartcoin, Pnut, and Moo Deng, is one of the most successful crypto applications, generating over $830 million in fees since its inception last year. LetsBonk started in part as a response to Pump.Fun as bonk contributors noticed that smart contracts belonging to Pump.Fun have sent solana tokens stemming from its fees to centralized exchange Kraken instead of keeping the attained value within the on-chain economy.

“The bonk re-rating is largely a reflection of coiled anticipation for PumpFun exposure, and Pump is rumored to launch at $4 billion FDV [fully diluted valuation],” Unsworth told Sherwood News. Bloomberg reported in June that PumpFun is planning to raise $1 billion at a $4 billion valuation by selling tokens.

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Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants.

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platform’s goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post.

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The token’s all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

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