15 Dec 2023 Jane Whitmoore
Solana’s BONK Memecoin Skyrockets Amid Binance Listing
The memecoin BONK, which is Solana-based, has increased its gains to over 110% over the past day, sending cryptocurrency speculators into a new frenzy. As of the time of publication, the market capitalization of BONK is rising to $1.8 billion, with a price of $0.00002773.
Source: CoinMarketCap
Amidst this optimistic price surge, BONK has tripled in size compared to the well-known memecoin PEPE Coin. The BONK price surge coincides with Binance's announcement that the memecoin has been added to its trading list.
Binance has stated that on December 15, 2023, at 8:00 AM, spot trading for several trading pairs would begin, along with the listing of Bonk (BONK).
With the release of the spot trading pairings BONK/USDT, BONK/FDUSD, and BONK/TRY, users on the Binance platform now have a wider range of trading possibilities.
Users can now start making BONK deposits in advance of trading, which is scheduled to begin on December 15, 2023, at 8:00 (UTC). BONK withdrawals will be available on December 16, 2023, concurrently.
Notably, Binance has chosen to charge no BNB for BONK's listing, highlighting its dedication to promoting inclusivity and accessibility in the cryptocurrency space.
In addition, Binance intends to broaden the scope of its services by launching BONK as a new borrowable asset along with a new margin pair on Isolated Margin, which should be available within the next 48 hours. This calculated action is in line with Binance's ongoing attempts to improve the trading experience for its user base and diversify the assets it offers.
The possible challenger to Dogecoin (DOGE), BONK, has seen an amazing increase of 271.8% in its daily trading volume, reaching an outstanding total of about $969 million, according to the most recent data release from cryptocurrency data aggregator CoinMarketCap.
Shiba Inu, on the other hand, saw a significant rise in its 24-hour trade volume of 29.6%, totaling $232 million. The data also shows that BONK's market value has increased by an astounding 108.7%, guaranteeing its position as the 43rd-ranked digital asset.
Coinbase, a well-known cryptocurrency exchange based in the United States, recently declared that it will feature BONK among the altcoins it plans to list. This announcement served to further boost BONK's momentum. The roadmap acts as a roadmap for traders, indicating when Coinbase might support a specific digital asset.
In 2022, Coinbase notably unveiled the listing roadmap in an effort to increase openness and reduce the possibility that investors would anticipate future trading announcements.
In related news, BONK has revealed BONKBot, a cutting-edge application made to make cryptocurrency trading easier on social media and on the well-liked messaging app Telegram. With this calculated action, BONK hopes to improve user participation and accessibility in the cryptocurrency trading community. The statement mentions:
“On the third day of BONKmas, my true dog gave to me: BONKbot! Trade with ease using BONKbot on Telegram. This BONKmas, discover how BONKbot simplifies trading and managing your positions.”
