Benzinga - Binance’s announcement to list Solana's (CRYPTO: SOL) BONK (CRYPTO: BONK) has sent its value soaring, surpassing the $0.000029 mark – recording a 950% surge within a month.
What Happened: Amidst this rise,on-chain data spotted by Lookonchain shows one trader cashing out 52.3 billion BONK at approximately $927,000, securing a profit near $784,000.
Lookonchain reported that this investor had previously acquired 69 billion BONK, at roughly $0.0000021 per token, and actively staked these holdings from October 30 to November 29.
BONK rose 84% in just 24 hours. In a broader context, this surge places BONK among the top gainers within the top 100 cryptocurrencies ranked by CoinMarketCap.
The SOL meme coin experienced an upswing of 140%, touching the $681 million threshold as per CoinMarketCap’s data.
As #Binance announced the listing of $BONK, the price of $BONK rose above $0.00003, an increase of more than 1000% within a month.A trader sold 52.3B $BONK($927K) today and made ~$784K.
This trader bought 69B $BONK at ~$0.0000021 and staked from Oct 30 to Nov 29. pic.twitter.com/DxMyv7u66E
— Lookonchain (@lookonchain) December 15, 2023
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Why It Matters: Earlier this week, Coinbase said it is adding BONK on its exploration roadmap, an endorsement that typically predates actual listing on the platform.
The enthusiasm around Solana’s meme token has been further amplified by the community-driven innovation – the launch of BONKBot, a Telegram-based bot designed to streamline the trading of the token.
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