There’s a new crypto working hand-in-hand with one of the hottest meme coins out there: BONK.
Over the past 24 hours, the BONK Fun platform has exploded in activity, generating more than three times the fees it did just the day before. What’s even more impressive is how those fees are being distributed – and how that benefits a rising altcoin called Graphite Protocol (GP).
BONK Is Pumping, but GP Is the Quiet Winner
Kadense Pengu, a well-known voice in the BONK ecosystem, recently shared that 50% of BONK Fun platform fees are now going toward buying and burning $BONK, while 7.6% are allocated for buybacks and burns of $GP. Meanwhile, 8% goes to BONK strategic reserves and rewards.
The @bonk_fun platform is now generating over 3x the fees as pump over the last 24 hours
50% goes to buy/burn $BONK
8% to buying $BONK for rewards and strategic reserve
7.6% goes to buy/burn of $GPContinue to make good progress with community support
But Jobs not finished pic.twitter.com/omjfMeE3Mv
— Kadense Pengu°❗️❗️❗️ (@iamkadense) July 19, 2025
To put this into perspective, another crypto analyst, Connorr, pointed out that 791 SOL (roughly $140,000) was collected in just 24 hours – and that portion is going directly into buybacks and burns for $GP.
So what does this mean? BONK may be the face of the trend, but GP is soaking up some serious value quietly in the background. And according to Connorr, these GP buybacks have over 5x the relative impact compared to BONK due to GP’s smaller market cap.
Read also: Will DOGE Price Hit $0.42? Analyst Maps It Out
What Is Graphite Protocol?
Graphite Protocol ($GP) is more than just a token riding the BONK wave. It’s a multi-chain infrastructure project built for creators, founders, and teams who want to launch blockchain projects without needing deep technical skills.
Here’s what makes it special:
- Multi-chain ready: Works across Solana, Ethereum, and Polygon – with plans for expansion.
- Creator-friendly: Offers both no-code tools for beginners and advanced features for developers.
- Real utility: The GP token is used to pay for tools and features within the ecosystem. If someone pays in SOL, ETH, or MATIC instead, Graphite uses those fees to buy and burn $GP, creating constant demand.
- Maximum Supply: Capped at 150 million GP, which supports its deflationary structure.
It’s worth noting that $GP already pumped over 160% in the last 7 days, but market cap is still below $100 million at press time.
Why This Model Works
Graphite’s tokenomics are designed to benefit holders directly. Every time a project is launched or a feature is used, GP gets bought from the open market. And then – it gets burned. That reduces supply, which naturally creates upward pressure on the price.
What’s more, Graphite isn’t stopping at just tools. The team is also building on-chain casino games, new sub-brands, and more creator-focused features that all funnel activity – and fees – back into GP.
With BONK drawing in massive traffic and $GP getting a piece of that revenue, Graphite Protocol may be one of the most under-the-radar plays in the market right now.
It’s not just a token – it’s a working engine behind the scenes of BONK’s growing empire.
As BONK Fun’s revenue keeps climbing, so does the burn rate for $GP. And in crypto, fewer tokens with more demand usually tell you one thing:
Keep your eyes on Graphite Protocol.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
