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HomeCrypto NewsMarketBONK Jumps 45% After Coinbase Confirmed its Listing

BONK Jumps 45% After Coinbase Confirmed its Listing

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BONK, a memecoin resident in the Solana ecosystem, has jumped by 45% after leading U.S.-based exchange Coinbase confirmed that it would add support for the token.

This BONK’s growth is one of the biggest daily jumps this month, with the price hitting a new All-Time High (ATH) of $0.00001482 following the news. The coin’s market capitalization also jumped by 45% to $879,680,908, while the trading volume’s 71.4% surge pushed it to $265,000,502.

Per the Coinbase announcement, BONK trading will commence on or after 9 AM Pacific Time on December 14, provided it achieves the liquidity requirements

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BONK Listing on Coinbase: Keynote to Traders

As a trading platform with very strict listing guidelines, Coinbase said it may restrict the trading of BONK in some jurisdictions. The asset pair supported is the BONK-USD, which the exchange said will go live in phases.

Coinbase published the contract for BONK “DezXAZ…B263” on the Solana network (SPL token) to properly guide its traders to know which asset they are interacting with. As teased earlier, one major thing to note is the “Experimental Asset” label accompanying the BONK listing. 

The trading platform typically adds this tag as a transparency move to show traders that a particular asset is new and may possess a relatively lower trading volume compared to its whole ecosystem. This will arguably help traders make more informed decisions when interacting with the asset.

As observed by CoinGecko, the Coinbase listing positions BONK as the third largest meme coin to go live on the exchange after Dogecoin (DOGE) and Shiba Inu (SHIB).

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BONK Traction: a Good Boost for Solana

While the listing of BONK is a big win for its immediate community, it is also arguably a bullish one for the broader Solana ecosystem.

According to inferences made from a post from Research and Commentary provider An Ape’s Prologue, BONK has contributed immensely to the attractive nature of Solana at the moment. Its more than 8,000% growth complements the 1,100% jump in Tensorians NFTs.

The Solana protocol is also propelled by the growing adoption of its platforms with links to impressive airdrops, as seen by the more than 10,000 new accounts created on MarginFi following the just-concluded JTO airdrop.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Godfrey Benjamin
Godfrey Benjaminhttps://thecryptobasic.com/
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web3.0. His love for crypto was birthed when as a former banker, he discovered the obvious advantaged of decentralized money over traditional payments. With his vast experience covering different aspects of Web3, Godfrey's articles has been featured on Blockchain News, Cryptonews Com, and Coingape amongst others. When not writing contents related to crypto, you can find him playing video games.

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