STONK climbs 250% to $140M market cap

• STONK has risen more than 250% in 24 hours to a market value of about $140 million.
• Trading volume has reached about $135 million, while RAY and JUP have also gained.
• The move follows StonkFun’s integration with Raydium LaunchLab for new token deployments.

STONK (CRYPTO:STONK) has risen more than 250% in 24 hours to about $0.16, lifting its market value to $140 million.

The token reached a record $0.212 earlier on Sunday before giving back some gains, while daily trading volume reached about $135 million.

The move followed StonkFun’s integration with Raydium LaunchLab, which will host new token deployments through the platform.

StonkFun allows users to create tokens paired with assets such as tokenised stocks, exchange-traded funds, cryptocurrencies, currencies and commodities.

Raydium’s RAY (CRYPTO:RAY) rose about 46% to $1.27, while Jupiter’s JUP (CRYPTO:JUP) gained about 21% to $0.27.

STONK is paired with SPYx, a token designed to track the S&P 500 through the SPDR S&P 500 ETF, but the pairing does not give holders ownership of the underlying shares.

StonkFun has also introduced changes aimed at addressing user complaints about token launches, including sniping, single-wallet launches and deployment costs.

At the time of reporting, STONK price was $0.1699.