STONK Jumps Over 250%, Reaches About $140M Market Cap After StonkFun Integrates Raydium

STONK, the token tied to Solana-based launchpad StonkFun, rallied more than 250% over a 24-hour period on Sunday, lifting its market capitalization to roughly $140 million. The token changed hands near $0.16 at around 4:30 p.m. ET, after hitting an all-time high of $0.212 earlier in the day. Daily trading volume was about $135 million, according to CoinGecko. The move followed StonkFun's Saturday integration with Raydium's LaunchLab, a setup the team said helped route activity to Raydium and Jupiter. StonkFun lets users create tokens paired with tokenized stocks and exchange-traded funds, alongside other markets such as cryptocurrencies, currencies and commodities. One of the flagship pairs links STONK with SPYx, a token from Backed designed to track the S&P 500 via the SPDR S&P 500 ETF. In these pools, the token trades against the tokenized ETF itself. StonkFun noted that the pairing does not give holders any claim on underlying shares; the token's dollar price is driven by SPYx's value and the token's exchange rate versus SPYx. StonkFun said future deployments will go through LaunchLab with lower deployment costs and reduced "sniper" risk. Under LaunchLab's mechanics, buyers and sellers initially trade along a bonding curve, with liquidity migrating to a Raydium pool once a token reaches a graduation threshold. Raydium's RAY traded around $1.27, up roughly 46% over 24 hours, while Jupiter's JUP rose about 21% to $0.27. StonkFun also runs a buyback program funded by trading fees. A portion of fees from v3 pools is used to buy and burn the platform's 10 largest tokens by market capitalization, with purchases executed every few minutes and weighted by market cap. ZEC, HYPE and TAO currently rank as the top three under that framework. The program has bought and burned 78 different tokens. On Sept. 2, StonkFun said a forthcoming update would address sniping, single-wallet launches and deployment costs, adding it had temporarily raised the maximum developer buy limit to deter snipers. Solana's official X account also weighed in on Friday, replying to a StonkFun post: "We stand behind Stonk Tokens."