Binance Lists Meme Coin BONK Under Seed Tag Section
Binance, following in the footsteps of Coinbase, has announced that it will list the popular meme coin BONK under its seed tag section. The trading for BONK, which is based on the Solana blockchain, will begin at 16:00 Beijing time.
BONK Price Soars
The price of BONK has experienced a significant surge, rising over 115% in the last 24 hours and over 1100% in the last 30 days. With a market capitalization of over $1.7 billion, BONK currently ranks third behind Dogecoin and Shiba Inu.
BONK Deposits and Trading Pairs on Binance
According to the official announcement, users can now deposit BONK on Binance in preparation for trading. The new spot trading pairs for BONK include BONK/USDT, BONK/FDUSD, and BONK/TRY. Withdrawals for BONK will be available starting from December 16th at 08:00 (UTC).
In addition, within 48 hours from December 15th at 08:00 (UTC), Binance will add BONK as a new borrowable asset with a margin pair on Isolated Margin, specifically BONK/USDT.
Accessing BONK on Binance
Accessing tokens labeled with a Seed Tag on Binance Spot and/or Binance Margin platforms now requires users to complete quizzes every 90 days and accept the Terms of Use. These quizzes are designed to ensure users are aware of the associated risks before engaging in trading activities involving Seed Tag tokens.
Users can identify Seed Tags on the respective Binance Spot and Binance Margin trading pages, as well as the Markets Overview page. A warning banner will also be displayed prominently for all tokens featuring Seed Tags to further emphasize risk awareness.
Hot Take: Binance Embraces Meme Coin Craze
Binance’s decision to list BONK under its seed tag section reflects the growing popularity and demand for meme coins in the crypto market. By providing access to BONK and implementing risk awareness measures, Binance aims to cater to the interests of its users while prioritizing their safety and education regarding these unique tokens. The significant price surge of BONK following its listing announcement on Coinbase demonstrates the power of meme coins in capturing investor attention and driving market excitement. As the meme coin craze continues, it will be interesting to see how exchanges like Binance adapt and evolve to meet the demands of this emerging trend.
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