BONK Falls 11% After Galaxy’s $18.75M Transfer Triggers Panic Selling
The cryptocurrency BONK took a sharp hit, dropping 11% in just 24 hours. This plunge followed a massive $18.75 million transfer by Galaxy Digital to centralized exchanges, sparking widespread panic among investors. While a 500 billion token burn aimed to boost value by cutting supply, the market spiraled instead, leaving many wondering what went wrong and how this ties to the broader stock market.
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