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Bonk (BONK) Skyrockets 36% in Volume Amid Major Exchange Listing

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Thu, 16/05/2024 - 10:32
Bonk (BONK) Skyrockets 36% in Volume Amid Major Exchange Listing
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In a significant boost for Bonk (BONK), Bithumb, South Korea's second-largest crypto exchange, has announced its listing on the Korean won market. Trading for BONK, the first dog-themed cryptocurrency on the Solana network, will commence at 5:00 p.m. on May 16, sparking a bullish trend in the coin’s price and volume.

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The listing on Bithumb is a pivotal moment for BONK, providing it with exposure to one of the largest cryptocurrency markets in Asia. This development is likely to enhance liquidity and trading activity, attracting more investors and potentially driving further price increases.

Bonk price goes bullish

Following the announcement, BONK’s market performance has shown a remarkable uptrend. As of now, BONK is trading at $0.00002611, marking a 9.57% increase in the last 24 hours. This surge underscores the market’s positive reaction to the listing news. Over the past 30 days, BONK’s price has soared by 78.5%, maintaining strong bullish momentum.

Trading volume has also seen a significant uptick, increasing by 36.53% to reach $498.6 million. This spike in volume reflects heightened investor interest and activity surrounding BONK. Concurrently, the market capitalization of BONK has risen by 9.37%, now standing at $1.66 billion, further highlighting the coin’s growing market presence.

Additionally, data from CoinGlass indicates a substantial increase in Open Interest for BONK, which has surged by 13.24% to $280.82 million. Open Interest is a key metric that represents the total number of outstanding derivative contracts, such as futures and options, and its rise is often seen as a bullish indicator. It suggests that more traders are entering the market and taking positions in BONK.

The meme coin’s robust performance and the increased market activity point to a positive outlook, as it continues to gain traction and recognition within the crypto community. Overall, BONK’s recent listing on Bithumb has catalyzed a significant increase in its trading volume and price. With the bullish indicators showing strong momentum, BONK is poised for further growth and stability on the cryptocurrency market.

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