This New Crypto Partnering with BONK Sees 160% Surge This Week – Rapid Token Burns Ahead

BONK’s Surge and Graphite Protocol’s Hidden Gains

A new cryptocurrency is making waves alongside one of the most popular meme coins, BONK. In the last 24 hours, the BONK Fun platform has seen a remarkable increase in activity, generating over three times the fees compared to the previous day. This surge is particularly noteworthy for a rising altcoin known as Graphite Protocol (GP), which is benefiting significantly from this uptick.

BONK’s Rise and GP’s Strategic Advantage

Kadense Pengu, a prominent figure within the BONK community, recently revealed that 50% of the fees generated by the BONK Fun platform are now being utilized to buy and burn $BONK tokens. Additionally, 7.6% of these fees are directed towards buybacks and burns of $GP, while 8% is allocated for BONK’s strategic reserves and rewards.

In a recent analysis, crypto expert Connorr highlighted that approximately 791 SOL (around $140,000) was raised in just one day, with a significant portion earmarked for buybacks and burns of $GP. This indicates that while BONK may be the face of the current trend, GP is quietly accumulating substantial value in the background. Connorr further noted that the impact of these GP buybacks is over five times greater than that of BONK, thanks to GP’s smaller market capitalization.

Understanding Graphite Protocol

Graphite Protocol ($GP) is not merely a token riding the coattails of BONK; it represents a multi-chain infrastructure project designed for creators, founders, and teams looking to launch blockchain initiatives without extensive technical expertise.

Key Features of Graphite Protocol

• Multi-Chain Compatibility: The platform operates across Solana, ethereum, and Polygon, with plans for further expansion.
• User-Friendly Tools: It provides no-code solutions for beginners while also offering advanced features for seasoned developers.
• Real-World Utility: The GP token is essential for accessing tools and features within the ecosystem. If payments are made in SOL, ETH, or MATIC, Graphite uses those fees to buy and burn $GP, ensuring consistent demand.
• Deflationary Model: With a maximum supply capped at 150 million GP, the tokenomics are designed to support a deflationary structure.

Despite a recent increase of over 160% in the past week, GP’s market cap remains below $100 million.

The Effectiveness of Graphite’s Model

The tokenomics of Graphite Protocol are structured to directly benefit its holders. Each time a project is launched or a feature is utilized, GP is purchased from the open market and subsequently burned, reducing supply and creating upward pressure on its price.

Moreover, Graphite is not limiting itself to just tools; the team is also developing on-chain casino games, new sub-brands, and additional creator-focused features that will funnel activity and fees back into GP.

With BONK attracting significant traffic and $GP receiving a share of that revenue, Graphite Protocol is emerging as one of the most promising yet overlooked opportunities in the market today.

As the revenue from BONK Fun continues to rise, so does the burn rate for $GP. In the world of cryptocurrency, a decreasing supply coupled with increasing demand typically signals one thing:

Keep an Eye on Graphite Protocol

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Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research before making any investment decisions.