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STONK jumps 250% after StonkFun integrates with Raydium LaunchLab
STONK traded near $0.16 around 4:30 p.m. ET and held about $140 million market cap, with roughly $135 million in daily volume.
STONK surged more than 250% over 24 hours after the Solana launchpad StonkFun announced an integration with Raydium’s LaunchLab, according to The Block.
The token was trading near $0.16 around 4:30 p.m. ET, after earlier hitting an all-time high of $0.212 before giving back some gains. Its market capitalization was about $140 million, with roughly $135 million in daily trading volume.
StonkFun lets users launch tokens paired with other assets, including tokenized stocks and exchange-traded funds, and its STONK token is paired with SPYx, a token designed to track the S&P 500 through the SPDR S&P 500 ETF.
The article notes that the token price reflects both SPYx’s value and STONK’s exchange rate against SPYx, and that pairing does not give holders a claim on underlying shares, even when the reference ETF rises. It also describes how LaunchLab initially trades against a bonding curve and then migrates liquidity to a Raydium pool once a token reaches a graduation threshold.
Latest closeSolana $119.69 ▲1.1%|S&P 500 7,651.54 ▼0.2%