BONK Price Soars As Coinbase Lists Solana Meme Coin After XRP

Crypto exchange Coinbase on Friday said it is listing Solana-based meme coin Bonk for trading in New York. This was another exciting announcement for the crypto community by Coinbase after the listing of XRP for New York residents a day earlier. Traders responded immediately to the announcement as BONK price began upside momentum by rising more than 10% in a few hours.

Coinbase Lists Bonk for New York Customers

In an X post on May 24, Coinbase announced the listing of Bonk (BONK), saying it’s big news for the New York users. The crypto exchange shows support for the XRP and Solana meme coin Bonk with an image depicting “NY Loves XRP and BONK.”

Coinbase customers in New York start trading BONK on Coinbase website, as well as in the Coinbase iOS & Android apps. It further added that Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.

The move comes a day after the crypto exchange listed XRP, expanding support for the much-discussed coins as the SEC continues to argue that XRP is a security and may challenge Judge Torres’ summary judgment that XRP in itself is not a security.

Meanwhile, Coinbase has also expanded support for meme coins Shiba Inu (SHIB), FLOKI, and BONK by listing 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP perpetual futures contracts tradable from May 30.

Also Read: Coinbase Appeals SEC Suit, Leverages Ripple Case As Precedence

BONK Market Performance

Bonk jumped immediately after the announcement by Coinbase, rising more than 10% in a few hours. This indicates a massive demand for meme coins. Santiment revealed recently that the hype surrounding spot Ethereum ETF has been a catalyst for price rallies in cryptos such as ETH, UNI, PEPE, BONK, and LDO, which saw over 20% gains.

BONK price jumped after the announcement, but still trading 3% down in the last 24 hours. The price is currently trading at $0.00003293. Bonk has rallied over 46% in a week and 55% in a month.

On the derivatives front, Bonk futures trading has remained volatile in the last few hours as traders sold 1000BONK futures on top exchanges such as Binance and Bybit, as per data by Coinglass.

Also Read: Solana & XRP ETF Are Next After Ether, Here’s The Potential Approval Timeline

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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