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29 May 2024
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BONK Price Jumps 7% Amid Major Listing Announcement

In a significant development for the cryptocurrency market, Bonk (BONK) has seen a remarkable 7% price jump following the announcement of its listing on Bithumb, the second-largest cryptocurrency exchange in South Korea. According to the official announcement, Bithumb will launch Bonk (BONK) and Zeta Chain (ZETA) in the Korean won market on May 16. The anticipation surrounding this listing has already led to increased trading activity and market enthusiasm, reflecting the influence major exchange listings can have on cryptocurrency prices. The listing on such a prominent platform is expected to further enhance BONK’s market visibility and attract a broader investor base.

BONK Trading Activity and Market Reaction

Bithumb, the second-largest cryptocurrency exchange in South Korea, will officially launch trading for Bonk (BONK) and Zeta Chain (ZETA) in the Korean won market on May 16. Trading for BONK is scheduled to begin at 17:00, followed by ZETA at 18:00. The announcement has generated substantial excitement and trading activity among investors, driving BONK’s price surge. The base price for the BONK listing is set at 0.0336 won, with the number of deposit confirmations required at 20.

The price of Bonk (BONK) has surged to $0.00002592 today, accompanied by a significant 24-hour trading volume of $334.2 million. This represents a 6.87% price increase in the last 24 hours and a 7.19% price increase over the past seven days. The listing on Bithumb, a major exchange in the highly active South Korean market, has provided a substantial boost to BONK’s visibility and trading volume. This move not only enhances BONK’s liquidity but also attracts new investors, contributing to its upward price momentum.

Also Read: GameStop (GME) Frenzy Spreads Into Crypto Meme Coins, Caution Ahead?

Market Cap, Supply, and Future Prospects

With a circulating supply of 66 trillion BONK, the cryptocurrency is currently valued at a market cap of $1.7 billion. The open interest in BONK has shown an upswing of over 30.60% in the past 24 hours, reaching a valuation of over $8.4 million. Additionally, the Relative Strength Index (RSI) has indicated strong buying pressure, standing at 67.53%, signaling active bullish sentiment.

The significant price movement following the Bithumb listing underscores the market’s positive reception and the potential for further growth. As BONK continues to gain traction, its listing on a prominent exchange like Bithumb is expected to foster greater investor confidence and broader market adoption. The increased accessibility and exposure provided by Bithumb could lead to sustained interest and higher trading volumes for BONK. The ongoing developments and investor interest point to a promising future for BONK, with the potential for further price appreciation and market expansion.

Also Read: BNB Price Soars 3% Amid Binance’s Latest Spot Trading Update

The post BONK Price Jumps 7% Amid Major Listing Announcement appeared first on CoinGape.

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