OKX Lists Bonk and Jito: A New Addition to the Spot Trading Market
On January 8, 2024, OKX, a well-known cryptocurrency exchange, made an exciting announcement. The platform has added two new cryptocurrencies, Bonk (BONK) and Jito (JTO), to its spot trading market. Both of these digital assets are built on the Solana blockchain.
Jito: A Liquid Staking Protocol
Jito, one of the newly listed coins, introduces a liquid staking protocol within the Solana ecosystem. This means that SOL token holders can stake their tokens and receive Jito Staked SOL (JitoSOL) in return. The listing of Jito on OKX opens up new opportunities for users to participate in this innovative protocol.
Bonk: A Trending Meme Coin
In addition to Jito, OKX has also listed Bonk, a meme coin that has gained popularity on the Solana blockchain. Bonk focuses on community participation and represents the lighter side of the cryptocurrency world. To facilitate easy trading, OKX has structured the listing with JTO/USDT and BONK/USDT spot trading pairs.
Deposits and Withdrawals
Traders can deposit JTO and BONK tokens on OKX from the day of the listing. Withdrawals, on the other hand, will be available starting from January 9 at 10:00 a.m. UTC. This gives traders complete control over their assets and allows them to manage their holdings efficiently.
Jito and Bonk Price Updates
As of now, Jito’s price has experienced a significant decline of 12.73% to $1.53. Its market cap has also decreased by 12.87% to $175.19 million, and the 24-hour trading volume has plummeted by 51.47% to $127.62 million.
Bonk, on the other hand, has seen a decline of 6.91% in its price, currently trading at $0.00001016. The market cap of this meme coin stands at $643.38 million, a decrease of 6.88%. Despite recent price declines, Bonk’s 24-hour trade volume has increased by 24.15% to $126.02 million.
Hot Take: Will the Listings Boost Prices?
The addition of Bonk and Jito to OKX’s spot trading market brings new opportunities for traders and investors alike. While the recent listing news may provide some support for a price rebound, it’s important to note that the overall cryptocurrency market has been highly volatile.
Both Jito and Bonk have experienced significant price drops in recent days, with Jito losing over 18% in the past week and Bonk losing over 23%. Although there is a possibility of a price rebound following the OKX listing announcement, it is uncertain whether these coins will overcome the current bearish trend in the market.
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