S&P 500 · The Block
STONK surges 250% to $140 million market cap as stock-paired Solana launchpad StonkFun pulls volume to Raydium and Jupiter
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
STONK, the token associated with Solana launchpad StonkFun, surged on Sunday after the platform announced an integration with Raydium's LaunchLab.
Key facts
- Its market capitalization stood at roughly $140 million, with about $135 million in daily trading volume
- Its own STONK token is paired with SPYx, a token from Backed designed to track the S&P 500 through the SPDR S&P 500 ETF
- Currently, tokens paired with ZCash (ZEC), Hyperliquid (HYPE), and Bittensor (TAO) occupy the top three slots
- Kraken announced an agreement to acquire Backed Finance in December 2025
Summary
The token traded near $0.16 around 4:30 p.m. StonkFun allows users to create tokens paired with other assets, including tokenized stocks and exchange-traded funds. Pairing a token with SPYx would mean traders exchange it against the tokenized ETF in that pool. While a memecoin paired with SPYx trades against a tokenized ETF product, the pairing does not itself give the memecoin holder a claim on shares of the fund.