The speed at which Bonk gained market share isn't necessarily a bullish sign; it primarily demonstrates the market's low barriers to entry and lack of lasting competitive advantage on any of this launchpads.
Even Opensea vs Blur or Magic Eden vs Tensor was way more interesting.
Mainly because Pump or Bonk don Ìt own the trading terminal or the eyes of the user.
Axiom might launch one, Jupiter might gain market share etc because they have front end.
Paying a multi-year multiple on this business might not be a great idea, by the way.
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