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Sharps Technology Announce Plans to Stake Treasury in BONK, Analyst Projects Parabolic Rally

Sharps Technology will stake 2M SOL into BONK’s liquid staking token, fueling bullish momentum as analysts project a parabolic rally.
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Sharps Technology Announce Plans to Stake Treasury in BONK, Analyst Projects Parabolic Rally

Highlights

  • Sharps Technology to stake 2M SOL in BONK’s liquid staking token (BonkSOL) through a deal led by Cantor Fitzgerald.
  • Partnership designed to generate staking yields and strengthen liquidity within Solana and meme coin ecosystems.
  • Analysts project a parabolic BONK rally after a recent dip, citing strong risk-to-reward potential.

Sharps Technology has announced plans to stake a portion of its treasury in BONK. This has led to bullish projections from experts, as a crypto analyst projects a parabolic rally for the token.

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Sharps Technology To Stake SOL Holdings In BONK

In a recent press release, Sharps Technology announced it will allocate a portion of its recently acquired 2 million SOL into BonkSOL, BONK’s liquid staking token (LST). The initiative would be funded by a private investment deal led by Cantor Fitzgerald & Co. 

This is designed to generate staking yields while supporting liquidity within the meme coin and Solana ecosystems.

James Zhang, a strategic advisor to Sharps Technology, said the collaboration reflects the company’s commitment to backing key players across the Solana network. 

“Partnering with BONK provides us with new avenues to potentially generate increased returns for our shareholders, while amplifying our presence across Web3 and beyond,” he explained.

The meme coin’s core team echoed the sentiment, noting that the company has built one of the most active Solana treasuries in the market. 

“This partnership strengthens BONK’s institutional footprint and continues our mission to maximize distribution and value back to the Solana community,” a core contributor said.

The token has steadily evolved into a major infrastructure player on the Solana blockchain. Its products now span over 400 integrations. This includes BONKBot, which has processed over $14 billion in lifetime trading volume, and Bonk.fun, which recorded $28 million in quarterly revenue. Meanwhile, BonkSOL, its liquid staking product, has attracted close to 200,000 SOL.

The latest partnership is similar to Lion Group Holding, which recently reallocated its Solana holdings into Hyperliquid (HYPE).

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Analysts Turn Bullish on BONK

Market analysts are now projecting a potential parabolic rally for the token, particularly after its recent price pullback. A well-followed analyst on X described the latest dip as “the last dip ever before parabolic.” He suggested that the risk-to-reward setup heavily favors upside.

Source: X

Adding fuel to the bullish narrative, Tuttle Capital filed for multiple income-based ETFs tied to BONK, Sui, and Litecoin. News of the filings triggered a swift rally across all three assets, with the meme coin posting a gain of more than 3% in 24 hours. 

Furthermore, crypto expert Kadense highlighted that the token is retesting key liquidity zones. He predicted further strength as macroeconomic conditions, such as potential interest rate cuts, align with crypto’s cyclical uptrend.

The token has been gradually working its way back toward its previous all-time highs. Traders argue that institutional support, coupled with an expanding product suite, could provide the spark needed to push the token decisively higher. 

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Michael Adeleke

Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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