BONK Continues Its Rise
BONK, which is a Solana-based meme-inspired cryptocurrency, has continued to outperform the broader cryptocurrency market over the past day, surging more than 52% and seeing year-to-date gains of 1,350%.
Listing on Coinbase Boosts BONK
The cryptocurrency’s price recently rose after Coinbase, a Nasdaq-listed cryptocurrency exchange, announced it was listing BONK on the Solana network. The listing has further boosted its performance amid a wider cryptocurrency market rise.
Coinbase’s Move Comes Shortly After
Coinbase decided to list BONK after the cryptocurrency exchange placed the meme-inspired cryptocurrency on its experimental phase.
Surge Due to Exchange Listings and Solana Adoption
BONK’s price surged from around $0.00000016 in October. This upward move has been driven by various listings on major cryptocurrency exchanges and the increasing adoption of Solana.
Market Capitalization and Rise in Popularity
BONK now ranks among the 100 largest digital assets by market capitalization, with an estimated market capitalization of $925 million, ranking sixty ninth place.
Strengths and Rising Use of Solana Blockchain
BONK’s popularity comes as developers appreciate the strengths of the blockchain. While SOL has seen an 85% increase over the past 30 days, BONK, the leading meme coin on the network, has witnessed even more substantial gains.
BONK’s Team and Its Actions
The team behind BONK refers to it as the first Shiba Inu-themed Solana-based cryptocurrency created “for the people, by the people”. In 2023, BONK moved to burn a total of 5 trillion tokens allocated to them at a time when the digital asset’s price was dropping after moving up significantly after launch.
Hot Take: BONK – The Rising Meme Coin
With the recent surge in BONK’s price due to widespread adoption and exchange listings, the meme cryptocurrency’s performance on the Solana blockchain is on an impressive upward trajectory, signaling growing interest and use of meme-inspired digital assets in the cryptocurrency space. The move to list BONK on Coinbase further cemented its rise and comes as a bullish signal for meme cryptocurrency enthusiasts.
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