Reacting to Coinbase’s announcement, BONK quickly took to its heels, gaining nearly 8% in value to reach $0.00001132.
Solana-based memecoin Bonk (BONK) is set to be listed on Coinbase, a major US-based cryptocurrency exchange. This was revealed in an announcement by the exchange on Wednesday as it unveiled its listing roadmap via a blog post.
According to Coinbase’s statement, it will henceforth use blogposts such as the latest one, to announce every asset listing decision. This is aimed at increasing transparency by providing some sort of information balance, the platform says.
Coinbase also seized the opportunity to warn users against rushing to deposit these experimental assets. The exchange instructed them to wait until they got an official announcement about a full listing before attempting to do so. It says that the instruction is to help users avoid a potential permanent loss of their funds.
Recall that Coinbase has recently drawn up a new policy that is aimed at customer protection. It introduced an “Experimental” tag, that applies to assets that are just listed or those with rather low trading volumes. At the time, Coinbase explained that it aims to use the tag as a cautionary indicator to users. That is to let them know that the assets have only been recently launched and are still in their infancy.
So, it will come as no shock that some assets mentioned in the roadmap may be listed with the cautionary tag. Even BONK is expected to have the tag.
BONK Surge Continues
Reacting to Coinbase’s announcement, BONK quickly took to its heels, gaining nearly 8% in value to reach $0.00001132. It is worth noting, however, that the dog-themed token has been experiencing a massive boom in recent times. Other similar tokens such as DOGE and SHIB are also seeing significant gains, but BONK’s gains have been significantly greater.
As Coinspeaker previously reported, the memecoin saw an over 6000% increase in its value in the last three months alone. So significant was the increase, that it was enough for it to displace PEPE on the list of the largest memecoins. That is in terms of market capitalization.
Additionally, its over 400% increase in value in the last 30 days has also made it the top-performing dog coin. As of publication though, the price of the token has suffered a little setback. According to CoinMarketCap data, it is currently valued at $0.00001056, down 18.65% in the last 24 hours.
It remains to be seen whether BONK will continue in its tracks and recover its previous gains. That is considering the current air of excitement around the Solana ecosystem in general.
