In recent weeks, BONK has been breaking records, with its price soaring to new heights almost daily.
The latest surge saw the coin explode by 100% in the last 24 hours, and an impressive 1,000% increase over a 30-day period.
BONK is now approaching a staggering market capitalization of $2 billion.
Binance’s Influence
A significant factor contributing to BONK’s rally is its interaction with Binance, the world’s leading cryptocurrency exchange by trading volume.
Binance announced its plans to list BONK on December 15, introducing spot trading pairs such as BONK/USDT, BONK/FDUSD, and BONK/TRY. Following the listing, withdrawals will be available from December 16.
Furthermore, Binance has set the BONK listing fee at 0 BNB and intends to include the memecoin in its Isolated Margin program as a borrowable asset from December 17.
Risk warning
Despite its decision to list BONK, Binance has issued a warning regarding the token. The exchange noted that BONK “poses a higher than normal risk” and is likely to be subject to significant price volatility.
Binance urged users to exercise caution, conduct thorough research on BONK’s fundamentals, and fully understand the project before trading.
Other exchange support
It’s important to note that Binance is not the first crypto exchange to support Bonk Inu. Previously, Coinbase had added the asset to its “roadmap” program, followed by a listing on its platform.