Coinbase, one of the world’s leading cryptocurrency exchanges, has officially announced its support for the Bonk token (BONK) on the Solana network (SPL token).
This announcement has triggered a significant rise in Bonk’s value and has consolidated its position in the competitive cryptocurrency market.
Coinbase will add support for Bonk (BONK) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) December 13, 2023
The listing of Bonk on Coinbase becomes a crucial milestone for this emerging asset within the Solana network ecosystem.
This news has captured the attention of investors and traders, driving an impressive 50% increase in its value on the same day it was listed on the platform, according to official data from CoinMarketCap.
This notable rise catapulted Bonk as the third-largest dog-themed memecoin by market capitalization, surpassing others like Dogecoin and Shiba Inu in the exponential speed of its growth.
The inclusion of Bonk on major exchanges such as Binance and KuCoin were catalysts for this increase
These strategic additions to renowned platforms within the cryptocurrency world have given Bonk greater visibility and accessibility to investors, generating notable interest in this token based on the Solana network.
It is essential to note that Coinbase has warned users about the importance of making transfers exclusively through the Solana network to avoid any loss of funds.
The platform has enabled the ability to transfer Bonk in regions where trading of this asset is allowed, offering users the opportunity to participate in the buying, selling and trading of the token.
Coinbase’s backing and listing on several leading exchanges have cemented Bonk’s position as a promising crypto asset.
Furthermore, this event is part of a broader context of growth in the memecoin market, where tokens such as Dogecoin, Shiba Inu, Floki and Pepe have also recorded considerable increases in value.
