Crypto Analyst Predicts Major Surge for BONK as DeFi Project Elluminex Emerges on TON Blockchain

Notable cryptocurrency analyst Sherif has predicted a significant price surge for the meme coin Bonk (BONK), suggesting a potential tenfold increase amid rumors of a BONK ETF approval. This forecast comes as BONK has already demonstrated strong performance with a 15% increase over the past week, reaching $0.000032.

Meanwhile, Elluminex (ELX), a new decentralized finance platform, is attracting investor attention by targeting the TON Blockchain's substantial user base of 950 million active users. The platform has already sold over 4 million tokens in its initial presale phase at $0.06 per token, with prices expected to rise to $0.08 in phase two.

The development marks a significant milestone for the TON Blockchain, which despite its massive transaction volume of over 1 billion recorded transactions, has remained relatively underdeveloped in terms of DeFi capabilities. Elluminex aims to fill this gap by introducing features such as a decentralized exchange with high liquidity, a token reward system, and AI-driven insights.

In the broader cryptocurrency market, Litecoin (LTC) has also shown positive momentum, with analyst World of Charts projecting a potential rise to $150. The token has already demonstrated a 10% increase in the past week, though its large $8 billion market cap may limit rapid price movements compared to newer, smaller-cap projects like Elluminex.

The emergence of Elluminex on the TON Blockchain could potentially mirror the impact that platforms like Uniswap, PancakeSwap, and Jupiter had on their respective blockchain networks, potentially transforming TON's capabilities and market position in the growing DeFi sector.