BONK exchange rate rises by 45% after the listing announcement on Coinbase

The asset will be added to the platform labeled Experimental, which warns of the risks of price and liquidity fluctuations

14.12.2023 - 08:04

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3 min

What’s new? US crypto exchange Coinbase has announced the listing of the “dog” meme token BONK based on the Solana blockchain. Trading in the asset will open on December 14, at 17:00 UTC or later, depending on the amount of liquidity. The exchange’s representatives warned that BONK may not be available in some jurisdictions, and urged not to send the asset from networks other than Solana to avoid losing funds.

Source: Twitter.com

What else is known? BONK will be added to the platform with the Experimental label. It means that the asset is new to Coinbase or has a low trading volume compared to other markets on the exchange. Coinbase urges traders to be cautious when working with such assets, as they are associated with the risk of price fluctuations or cancel orders due to a decrease in volume.

At the same time, such a mark does not impose any restrictions on the use of the assets: they can be sent, received, bought, sold, or stored on Coinbase just the same.

BONK is the first “dog” meme token on Solana, it was launched at the end of December last year. The developers position the project as a meme coin “created by people for people.”

5% of the total 99 trillion coin offering at launch was distributed to the Solana community, including developers, creators, and users, to increase liquidity on the ecosystem’s decentralized exchanges (DEXs).

Solana-based Zebec protocol team has launched fee-free crypto card

For now, the product is only available to holders of native tokens ZBC

On December 6, the capitalization of BONK jumped by 36% in 24 hours, as a result of which it moved up to third place in the ranking of “dog” coins, overtaking FLOKI. BONK’s rate began to grow actively back in early November, and since the beginning of the year, it has added 1346%.

As of December 14, 07:20 UTC, BONK is trading at $0,00001466, having added 45% in 24 hours.

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