Memecoin Bonk Rockets 1,000% Amid Surprising Binance Listing

Binance’s unexpected listing fuels Solana’s memecoin 1,000% monthly surge.

The Solana-based memecoin Bonk (BONK) has seen a staggering 1,000% surge in a month, following its unexpected listing on the premier cryptocurrency exchange, Binance. This development comes hot on the heels of Coinbase’s listing of BONK, triggering a wave of enthusiasm within the community and a sustained rally for the burgeoning memecoin.

Bonk's debut on Binance comes with a unique classification known as the Seed Tag, typically assigned to emerging cryptocurrencies prone to heightened volatility. As per the official communication from Binance, the initial trading pairs on the Spot markets include BONK/USDT, BONK/FDUSD, and BONK/TRY, all of which are now active. Withdrawals in BONK are slated to commence on 2023-12-16 at 08:00 (UTC), while the coin will also be introduced as a borrowable asset on the Isolated Margin after 48 hours from its listing on Spot trading.

The remarkable surge in Bonk's value triggered an outpouring of enthusiasm from Solana's online community, notably highlighted by the well-known crypto influencer and entrepreneur, David Gokhshtein. Gokhshtein took to Twitter to celebrate the victory for Solana's ecosystem and the broader crypto domain while expressing regret for missing the chance to capitalize on Bonk's rise.

As #Binance announced the listing of $BONK, the price of $BONK rose above $0.00003, an increase of more than 1000% within a month.

A trader sold 52.3B $BONK($927K) today and made ~$784K.

This trader bought 69B $BONK at ~$0.0000021 and staked from Oct 30 to Nov 29. pic.twitter.com/DxMyv7u66E

— Lookonchain (@lookonchain) December 15, 2023

Conversely, astute analysts like LookOnChain detected a crypto whale who strategically offloaded 52.3 billion $BONK, reaping profits of $784,000, according to blockchain records. Initially acquiring 69 billion $BONK at an estimated price of $0.0000021 and staking it for a month, this prominent investor unlocked substantial funds and swiftly transformed into a crypto millionaire by selling a significant portion of their holdings.

With the backing of two major crypto exchanges, Bonk swiftly ascended to the top 50 by global market capitalization, continuing its parabolic surge of over 1,000% within the last 30 days. At the time of writing, BONK is trading at $0.00002838, marking a remarkable 121% surge in the past 24 hours.