STONK crypto surges 18% after Netflix pairing – Why $0.25 matters now

STONK rallied more than 18% in the past 24 hours at press time, as the broader crypto market extended its uptrend.

STONK’s daily gains were ahead of Pump.fun [PUMP], its biggest competitor in the Solana [SOL] ecosystem. However, the launchpad continues to climb higher in the ranks of the top platforms by revenue in the Solana ecosystem.

Why is STONK crypto up today?

STONK’s rally over the past 24 hours has been largely driven by a new feature that allows users to launch tokens paired with Netflix (NFLX). The move will increase interactions on the platform, which in turn fuels its revenue generation.

The trading volume of both the derivative and spot markets hit $229 million, up about 185% from the previous day. Derivatives account for the biggest spike in volume, about 113%, with Open Interest (OI) rising with it.

Stonk generated in excess of $1.163 million in daily revenue. Of this amount, more than $703K was spent on buying back 2.75 million STONK tokens. This amount was burned, representing 0.275% of the total supply.

As a result, about 1.30% of the token’s supply was burned over the past seven days.

Basically, STONK has bought back $17.37 million while burning a total of 189.92 million STONK, equivalent to $50.996 million.