Why Is Bonk Price Up Today?

Bonk, a cryptocurrency that originally customary as a memecoin, a part of the Solana ecosystem, curated a cyclone of speculations throughout the cryptocurrency universe on Thursday. The frenzy arose because the Solana-backed cryptocurrency illustrated a noteworthy upward trajectory in its worth throughout the broader crypto market.

The upswing momentum illustrated by the token seems to align with a big itemizing announcement made by one of many main crypto exchanges not too long ago.

Moreover, an eminent crypto analyst drew merchants’ consideration to the numerous surge witnessed by the token.

Bonk’s Itemizing On Coinbase

Coinbase, a number one crypto trade, not too long ago introduced that the agency plans to construct up assist for Bonk (BONK) buying and selling on the platform. Furthermore, as per the trade’s announcement, the buying and selling for BONK on the platform commences as we speak, December 14.

In its announcement, Coinbase additional emphasizes to not commerce the asset on networks aside from Solana to mitigate customers’ losses. Moreover, the trade navigated its itemizing towards a extra clear method, including the Experimental label subsequent to BONK. With the amalgamation of this label subsequent to BONK, Coinbase goals to inform its customers to train warning whereas buying and selling.

In the meantime, the agency commences buying and selling for BONK-USD buying and selling pairs on the Solana community.

Additionally learn: Former Credit Suisse Exec Revolutionizes Crypto Trading With BTC & ETH Spot Launch

BONK Worth Spikes Whoppingly

On the time of writing, the Bonk worth famous a colossal surge of 45%, reaching $0.00001525. Furthermore, prior to now seven days, the token famous a 65% surge in its worth escorted by a month-to-month upswing of 681%.

The numerous worth upsurge witnessed by the token prior to now 24 hours comes primarily as a result of Coinbase’s itemizing chronicle. As well as, even the token’s market cap recorded a considerable enhance of 45%, evaluating $928 million. The upsurge in Bonk’s market cap additionally comes concurrent to Coinbase’s itemizing announcement.

Nonetheless, the worth surge famous by the token over the previous few days aligns with different market traits as properly.

Solana, the backup behind BONK, additionally seems to have gained substantial traction because the token recorded a worth upsurge. Whereas writing, the Solana price recorded a big 9% enhance prior to now 24 hours, presently resting at $72.33. Moreover, the token seems to have surged notably by 14% prior to now week, accompanied by a month-to-month surge of 33%.

The rise in Bonk’s worth in current days is also attributed to the numerous surge witnessed by the Solana community. Furthermore, a widely known crypto analyst, Coinskid, additionally amassed crypto lovers’ consideration in the direction of the Bonk worth upsurge. In his assertion, the analyst illuminated Bonk’s 7,000% rise for the reason that final 4-hour purchase sign, famous 53 days in the past.

With the Bonk worth hovering amid ongoing developments, the token seems to have stockpiled an array of bullish sentiments throughout the international crypto market.

Additionally learn: Cathie Wood’s Ark Invest Sells $43M Coinbase & $1.6M GBTC Shares As Prices Hit New High