Solana-based Meme coin GP’s market capitalization briefly surpassed $30 million, rising over 101% in 24 hours
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AT A GLANCE
Solana-based Meme coin GP briefly surpassed a market capitalization of $30 million, rising over 101% in 24 hours.
Article
Solana-based Meme coin GP’s market capitalization briefly surpassed $30 million, rising over 101% in 24 hours
BlockBeats reported that on September 24, according to GMGN data monitoring, Solana-based Meme coin RuneScape Gold (GP) briefly surpassed a market capitalization of $30 million, reaching an all-time high. It is currently valued at $27.4 million, up over 101% in 24 hours.
GP is themed around the gold coins of the classic game RuneScape and is paired with tokenized gold GLDx. Each GP transfer incurs a 3% tax. After accumulating, the related fees are periodically converted by StonkFun and distributed proportionally in the form of GLDx to eligible holders, creating a mechanism that provides holders with exposure to gold-price appreciation through rewards. It is a highly volatile Meme asset combining gaming nostalgia, transaction-tax dividends, and the concept of tokenized gold.
BlockBeats reminds users that Meme coins often have no practical use cases and can be highly volatile. Investment requires caution.
Original link https://m.theblockbeats.info/flash/368781
Key points
01
BlockBeats stated that, according to GMGN data monitoring, RuneScape Gold (GP) briefly surpassed a market capitalization of $30 million, reaching an all-time high.
02
At the time of reporting, GP’s market capitalization was $27.4 million, representing a gain of more than 101% over 24 hours.
03
GP is themed around the gold coins of RuneScape and is paired with tokenized gold GLDx.
04
Each GP transfer incurs a 3% tax. The related fees are periodically converted by StonkFun and distributed proportionally in the form of GLDx to eligible holders.
05
The report warned that Meme coins may lack practical use cases and can be highly volatile.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
GP is a Meme coin operating on Solana. The mechanism described in the report is that a 3% fee is charged on transfers, after which the related fees are converted into GLDx and distributed proportionally to eligible holders.
Why it matters to readers
GP’s market capitalization and short-term gain rose rapidly, indicating heightened market attention toward the asset; however, assets of this type can be highly volatile.
Beginners need to distinguish between a rise in market capitalization and actual returns. Transaction taxes, GLDx distributions, and price volatility can all affect the actual outcome.
Risks and unknowns
The evidence explicitly cites only GMGN data and does not provide independent sources for cross-verification.
The evidence does not confirm whether the 3% transaction tax and GLDx distribution mechanism are actually being implemented.
The evidence does not indicate whether GP can sustain a $30 million market capitalization or whether its gains will be given back.
The practical use cases and long-term value of the Meme coin cannot be confirmed from this report alone.
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Market capitalization
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