Binance Lists New Solana-Based Meme Coin Amidst 2,500% Price Surge – Bull Market Officially Here?

Source: Adobe / Olivier Le Moal

Binance, the world’s largest crypto exchange by trading volume, has added fuel to the frenzy surrounding the Solana-based meme coin BONK by announcing the launch of a BONK futures offering.

The listing comes as BONK has seen a dramatic surge in the market, rising more than 50% in the past 7 days alone, per data from CoinGecko.

The token has been making new all-time highs on a daily basis as of late, after breaking through its previous all-time high from January this year earlier this week.

As of press time on Thursday, BONK had a market capitalization of just over $270 million, ranking it as 158th most valuable cryptoasset by market cap, per CoinGecko’s ranking.

BONK price since inception. Source: CoinGecko

Source: CoinGecko

The new listing on Binance Futures is for USDⓈ-M 1000BONK, a USD-margined and settled contract with leverage up to 50x.

The surge in BONK’s popularity is seen by some as riding the coattails of Solana’s recent success, marked by a surge in the price of the network’s native token SOL.

While SOL has experienced an impressive 80% gain over the last 30 days, BONK easily outshone its counterpart with a huge gain of roughly 1,200% over the same time period.