The trading volume of the Solana-based meme coin Slerf crossed the $2 billion mark.
According to CoinGecko, SLERF, active for just over 24 hours, has reached a market capitalization of hundreds of billions of dollars, peaking at $650 million, with trading volumes peaking at $2.7 billion. SLERF is trading near $0.85 when writing, with a 108% increase in the last 24 hours.
Whales of the new token were also actively making transactions. The largest buyer of SLERF deposited all 46,742 Solana (SOL) to the Binance exchange. According to Lookonchain data, an unknown whale spent 35,953 SOL to buy 8.2 million SLERF.
However, some investors have lost significant amounts on investments in SLERF. One user lost $564,000 by purchasing a new token.
The token’s performance began to increase after the news that the SLERF developer burned the tokens intended for the airdrop, depriving presale participants of rewards. The project team stated that they could not return funds to investors. Subsequently, the asset was listed on Bitget, BingX, MEXC, HTX, and other cryptocurrency exchanges.
Later, the Slerf team opened a fundraiser to compensate presale participants, with some of the previously mentioned crypto exchanges joining this initiative. According to SolScan, the fundraiser has collected almost 3,000 SOL worth $535 million.
