BONK Swings for the Fences
Is the Solana-based memecoin's rise a sign of outsized SOL enthusiasm?
Memecoin season returns. Solana's ecosystem “culturecoin,” BONK, surged on its Coinbase debut, setting new all-time highs and pushing towards a $1.2 billion market cap. The doggy coin du jour is up 92% week-over-week, and its parent network's native token is also up over 9%, while ETH and BTC are still in the 7-day red after this weekend's slump.
After Solana broke into mainstream crypto’s consciousness in October, BONK went on an epic run, ripping 7770% in just two short months! Today’s Coinbase listing, which follows up on last month’s Binance listing, makes it easier for retail to purchase BONK, circumventing crypto savviness needed to acquire the token on a Solana DEX.
Trading will begin on or after 9AM PT on 14 December 2023, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our BONK-USD trading pairs will launch in phases. Support for BONK may be restricted in some supported jurisdictions.
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Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
