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BONK, the memecoin centered around the Solana ecosystem, achieved a significant milestone in 2023, recording the largest pump of the year on Coinbase.

The expectations and process leading up to a Coinbase listing are often more influential than the listing itself. This was evident in BONK, which saw its value increase by an incredible 18,000% during the period leading up to its inclusion on Coinbase’s listing roadmap.

BONK’s market value, which had an initial value of $20 million in late October, soared to nearly $900 million by mid-December. However, by this time, a 40% correction had occurred.

The process of listing on Coinbase typically involves three stages: announcing the initial roadmap, confirming support, and finally starting full trading.

Since the roadmap announcement, BONK has fallen by up to 27% on other exchanges, while Bitcoin’s value has remained stable. Approximately 18 hours after this announcement, Coinbase confirmed that BONK would begin trading in USD the following day around noon in New York.

In response, BONK’s value soared by up to 50%, more than doubling in just 18 hours after it was officially listed on Coinbase. However, two days after listing, BONK’s value briefly exceeded $2 billion before falling approximately 40%.

Despite the recent decline, BONK’s value is nearly twice as high as it was after its listing on Coinbase was confirmed last Wednesday.

Advantages of Bonk

1. Exchange listing: BONK is available on several well-known centralized exchanges such as Coinbase, Binance, and KuCoin, improving accessibility and reliability.
2. Solana Ecosystem Integration: As part of the increasingly popular Solana ecosystem, BONK benefits from the growing interest in this platform as a viable alternative to Ethereum.
3. impressive market performance: In 2023, the value of BONK rose noticeably, recording an increase of more than 10,000%.
4. Central role in the ecosystem: BONK is ready to be at the forefront of the expanding decentralized application (dApp) ecosystem.
5. BonkSwap launched: BonkSwap, a decentralized exchange within the BONK ecosystem, was introduced in November 2023.
6. Liquidity Provision Profit: Users have the opportunity to earn interest by providing liquidity to BonkSwap.

Disadvantages of BONK

1. large supply: The total supply of BONK reaches 100 trillion coins, which may affect its value.
2. Meme Coin Volatility: As a meme coin, BONK is subject to the vagaries of market trends and may lose popularity as new meme coins emerge.
3. market fluctuations: High volatility is a common feature of meme coins, making them a risky investment.
4. Anonymity of creators: The lack of transparency from the BONK team raises questions about BONK’s governance and future direction.
5. limited practical use: The utility of BONK beyond the speculative market is somewhat limited.

In summary, BONK presents a notable opportunity with impressive market performance, especially within the Solana ecosystem, but potential investors should also consider its high supply, inherent volatility, anonymity of creators, and limited utility before investing.

WHERE AND HOW TO BONK

1. Use your existing payment method with CEX: BONK can be conveniently purchased at the Centralized Exchange (CEX) using debit cards, credit cards, digital wallets, online banking, etc. This method allows direct fiat-to-crypto transactions, making it user-friendly, especially for those who are new to cryptocurrencies. After purchase, BONK tokens must be transferred to a cryptocurrency wallet to be used in decentralized applications (dApps).
2. DEX cryptocurrency swap: Alternatively, you can acquire BONK through cryptocurrency swap on a decentralized exchange (DEX). For example, Solana-based DEXes like Raydium allow you to exchange SOL tokens for BONK. Please note that these transactions incur gas fees payable in SOL.

BONK purchasing platform

• Centralized Exchange (CEX): BONK can be used in several CEXs, including:
  • coinbase
  • KuCoin
  • Binance
  • bybit
  • bitget
  • Mexico
• Decentralized Exchange (DEX): For those who prefer DEX, here are some places to find BONK, especially within the Solana ecosystem:
  • radium
  • killer whale
  • Jupiter
  • open ocean
  • Bonkswap

Special note for Ethereum users

Ethereum enthusiasts can participate in BONK by purchasing Wrapped BONK tokens. This token reflects the BONK market value native to the Solana blockchain.

Important Considerations

BONK’s remarkable growth of over 10,000% in 2023 naturally attracted great attention. However, if you are considering investing in this Solana-based memecoin, please do your research thoroughly (DYOR), be aware of the potential effects of FOMO (fear of missing out), and remember the inherent risks associated with memecoin trading. This is important. .

All Coinbase listings this year experienced an initial price surge

The significant price increase associated with BONK’s Coinbase listing may seem unusual, but it is part of a broader trend observed in other cryptocurrencies. This year, Coinbase added 15 different cryptocurrencies to its platform. With the exception of the Ripple-based smart contract network Flare (FLR), which held steady, each of these experienced price increases in the period between Coinbase’s listing confirmation and the actual listing event.

Interestingly, Bitcoin, which is usually the market leader, has seen gains of more than 2% alongside these cryptocurrencies on two occasions. This pattern suggests that there is minimal short-term correlation between the price movements of Bitcoin and the price movements of newly listed cryptocurrencies on Coinbase.

It is important to note that this analysis excludes liquid staking tokens or tokens with a prior trading history on other platforms, as the price reaction to Coinbase listings is less pronounced.

In a notable example, DIMO, a little-known cryptocurrency used to reward drivers for data sharing, surpassed BONK’s pre-listing surge. Following Coinbase’s listing announcement on April 17, DIMO’s value more than doubled in just two hours.

This trend indicates that the announcement of a new listing on Coinbase is generally associated with an increase in the price of the corresponding cryptocurrency. However, this correlation does not necessarily extend to the period following the actual listing.