Solana's third-largest treasury company in the ecosystem launches a Meme coin and holds 30% of the supply, with DONT's market cap currently at $22 million.

BlockBeats News, January 23rd, according to GMGN monitoring, the Meme coin DONT issued by DFDV currently has a market value of about $22 million, with a price of about $0.000052, and a 24-hour trading volume of $35.8 million. The largest current holder is the DFDV official wallet, holding approximately 31.6% of the token's total supply.

DeFi Development (DFDV) is the third-largest treasury company in the Solana ecosystem, with its treasury holding about 2.2 million SOL worth around $285 million. The DFDV official announcement at 3 a.m. today stated that all tokens held by the address sniping the token have been burned, and the profits obtained will be used to buy back and burn tokens, resulting in a cumulative destruction of about 5.1% of the total supply in this round, mainly driving the second early morning surge of the token.

DONT, short for "DisclaimerCoin," was launched last night by DFDV on Bonk fun. The company explicitly stated in its announcement that DONT has not received any official sponsorship, endorsement, or support, does not have a roadmap, team, actual functionality, or any commitments, and is only an experimental project initiated by DFDV. This makes it the first Meme coin created by a publicly traded company.

BlockBeats reminds users that Meme coin trading is highly volatile, relies heavily on market sentiment and conceptual hype, has no actual value or use case, and investors should be aware of the risks.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.