Key Highlights
- KNOTS surged 127%, moving from an intraday low of $0.019 to nearly $0.05.
- The token rewards holders with STONK through a 3% transfer tax, with eligible wallets receiving payouts when rewards are distributed.
- The token began trading on MEXC on September 10, adding another exchange for KNOTS traders.
KNOTS has jumped 127% today, with increased trading activity pushing the Solana-based token higher. This activity has sent its price from an intraday below $0.019 to nearly $0.05.
According to data from CoinGecko as of September 11 (5:18 UTC), the token is currently trading for $0.04438, pushing the market cap to about $45.032 million, while its 24-hour trading volume has reached around $17.657 million.
This surge has put KNOTS in the spotlight as trading activity around the token picks up. Its fully diluted valuation is also about $45.032 million, while both its total supply and maximum supply stand at 1 billion KNOTS.
KNOTS holders are earning STONK
KNOTS is closely tied to another token, STONK. The official website explains the link in simple terms: “$STONK spelled backward is $KNOTS.”
The project was launched through StonkFun Launchpad on Solana, and the two tokens are built around this reversed-name idea.
The token also has a reward system linked to STONK. According to the website, a 3% transfer tax is charged whenever KNOTS is transferred, with the collected amount used to reward KNOTS holders in STONK. The project says about 2.5% is taken from the tax to cover network costs and the process of sending the rewards.
Rewards are collected until they are ready for distribution. The project says wallets holding at least $20 worth of KNOTS at the time of a payout can receive the STONK rewards.
According to the KNOTS website, 5.62 million STONK has been paid to holders so far. It also lists $199,633 in payouts for the last drop, which reached 11,290 wallets. The website said that distribution happened two hours before the information was recorded.
Reward distribution has faced issues
However, this reward system has not been without problems. On September 6, the KNOTS account on X confirmed that LaunchOnSF, the system it used to pay its rewards, was aware of an issue with reward distribution and was working on a fix. The account had earlier said that $10,000 worth of STONK was waiting to be distributed to KNOTS holders.
KNOTS also highlighted its MEXC listing on September 10, adding another centralized-exchange venue for the token.
Traders are watching KNOTS momentum
The token has drawn attention from traders watching the momentum. One trader, Brandon, also posted on X that KNOTS volume is “going ballistic.” He also pointed to STONK rewards as a possible short-term issue, saying some holders appeared to be selling the rewards they receive.
The latest move leaves KNOTS at the center of a burst of trading activity around its price surge and STONK-linked reward system.
Also Read: Bitcoin Reclaims $78K After US Inflation Data Meets Expectations
