Coinbase announced it will start trading the Bonk (BONK) in New York, following its recent listing of XRP for New York City residents.
The cryptocurrency exchange Coinbase announced on Friday that it will be launching the Solana-based meme coin Bonk for trade in New York. Coinbase made yet another exciting statement for the cryptocurrency world, following the listing of XRP for residents of New York City the day before.
Coinbase Lists Bonk for New York Customers
Traders responded swiftly to the announcement, causing the price of BONK to surge by more than 10% within a few hours. Coinbase announced the listing of Bonk on its platform on May 24. They stated that this is significant news for users in New York.
Through the use of a picture that depicts the phrase “NY Loves XRP and BONK,” the cryptocurrency exchange demonstrates its support for the XRP and Solana joke coin Bonk. Coinbase customers in New York begin trading BONK on the Coinbase website, as well as via the Coinbase apps installed on their iOS and Android devices.
Additionally, Coinbase consumers can log in and purchase, sell, convert, send, receive, or store these financial assets. The Securities and Exchange Commission (SEC) continues to argue that XRP is a security and may appeal Judge Torres’ summary judgment that XRP in and of itself is not a security.
This action comes a day after the cryptocurrency exchange listed XRP, boosting support for the coins that have also been the subject of considerable discussion.
Additionally, Coinbase has increased its support for meme coins Shiba Inu (SHIB), FLOKI, and BONK by selling 1000 BONK-PERP, 1000 FLOKI-PERP, and 1000 SHIB-PERP perpetual futures contracts that will be tradable beginning on May 30.
BONK Market Performance
Following Coinbase’s news, Bonk saw a tremendous surge, rising by more than 10% in just a few hours. This suggests that there is a significant demand for meme currencies.
Santiment recently disclosed that the excitement surrounding the spot Ethereum ETF has driven price increases in cryptocurrencies such as ETH, UNI, PEPE, BONK, and LDO, all of which have seen gains of more than 20%.
While BONK’s price increased after the news, it is still trading at a 3% loss over the past 24 hours. The item is currently trading at $0.00003293. Bonk has experienced a rise of more than 46% in a week and 55% in a month.
According to Coinglass’s data, bonk futures trading has been tumultuous over the past few hours. This is due to the fact that traders have sold 1000BONK futures on leading exchanges such as Binance and Bybit.