Slerf’s trading volume surpasses $2 billion on inaugural day
The trading volume of Slerf, a meme coin based on the Solana blockchain, has surpassed $2 billion. CoinGecko reports that within just over 24 hours, SLERF has achieved a market capitalization of hundreds of billions of dollars, reaching a peak of $650 million. Trading volumes also peaked at $2.7 billion. As of now, SLERF is trading at around $0.85, showing a 108% increase in the past day.
Notably, whales have been actively involved in transactions related to this new token. The largest buyer of SLERF deposited a substantial amount of 46,742 Solana (SOL) to the Binance exchange. According to Lookonchain data, an unidentified whale spent 35,953 SOL to purchase 8.2 million SLERF.
Unfortunately, some investors have suffered significant losses due to their investments in SLERF. One user, for instance, lost $564,000 after purchasing the new token.
The token’s performance began to improve following news that the SLERF developer decided to burn the tokens meant for the airdrop, thereby depriving presale participants of their rewards. The project team clarified that returning funds to investors was not feasible. Consequently, the asset was listed on various cryptocurrency exchanges, including Bitget, BingX, MEXC, and HTX.
Later on, the Slerf team initiated a fundraiser to compensate presale participants, with several of the aforementioned crypto exchanges joining this effort. According to SolScan, the fundraiser has successfully collected nearly 3,000 SOL, equivalent to $535 million.
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