- The global cryptocurrency market capitalization has stabilized at around $1.47 trillion with minimal volatility, but Bonk (BONK), a Solana-based memecoin, has stood out with a 12% increase following its inclusion on KuCoin exchange as a BONK/USDT trading pair.
BONK has experienced significant growth, with its value skyrocketing by over 650% in the past month, outperforming other assets in the crypto industry.
Factors contributing to BONK’s surge include the generally bullish crypto market in early November and its association with Solana (SOL), which itself saw a notable increase to nearly $70, marking a substantial gain over the month.
The global cryptocurrency market capitalization has consolidated around $1.47 trillion (per CoinGecko’s data), with most digital assets recording little-to-no volatility on a 24 hour basis. However, one token defied the current trend, and its name is Bonk (BONK).
The Solana-based memecoin has soared by over 12% on a daily basis following an announcement coming from the cryptocurrency exchange KuCoin. The latter revealed on X (Twitter) that the trading pair BONK/USDT is now available to customers.
BONK has been among the best-performing assets in the crypto industry lately, with its valuation exploding by more than 650% in the past month.
One reason behind its rally could be the overall bullish condition of the market that reigned during the first half of November. Recall that Bitcoin reached a yearly high of $38,000 following the arising rumors that a spot BTC ETF might soon go live in the United States.
Another factor playing a role in BONK’s surge could be its connection to Solana (SOL). The latter spiked to almost $70 (a price last seen in the spring of 2022), outpacing the gains recorded by BTC and ETH. Despite its consecutive decline, SOL is still 75% up on a monthly basis.
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