Binance Launches BONK Futures Amidst Price Surge
Binance, the largest crypto exchange, has announced the launch of BONK futures, adding to the excitement surrounding the Solana-based meme coin. BONK has experienced a significant surge in the market, with a 50% increase in the past week alone. The token has been setting new all-time highs and currently has a market capitalization of over $270 million.
PYTH Perpetual Futures Contract Listing
In addition to BONK, Binance has also announced the listing of a perpetual futures contract for PYTH, another popular Solana-based token. Both listings are scheduled to go live on November 22.
New Listings by Binance’s New CEO
The addition of BONK and PYTH to Binance’s platform is notable given recent challenges faced by the exchange. This includes the departure of founder Changpeng Zhao (CZ) and significant outflows. The new listings are believed to be part of a marketing strategy led by the new Binance CEO, Richard Teng.
Hot Take: Bull Market Officially Here?
The listing of BONK futures amidst its price surge and the success of Solana’s native token SOL raises questions about whether the bull market is officially here. With impressive gains for both tokens, it will be interesting to see how they continue to perform in the coming days.
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