Following Coinbase, Binance has made an announcement to list the highly talked-about meme coin, BONK, under the seed tag section. Trading for this Solana-based meme coin is set to commence at 16:00 Beijing time.
BONK has experienced a remarkable surge in price, recording an increase of over 115% in the last 24 hours and an astounding 1100% in the last 30 days. With a market capitalization exceeding $1.7 billion, BONK now ranks third, following Dogecoin and ShibaInu, in the meme coin category.
BONK Deposits on Binance Go Live
According to the official announcement, Binance is introducing new spot trading pairs for BONK, including BONK/USDT, BONK/FDUSD, and BONK/TRY. Users are already able to deposit the meme coin on Binance in preparation for trading, and withdrawals for BONK will be enabled on December 16th at 08:00 (UTC).
Furthermore, Binance plans to include BONK as a new borrowable asset in connection with the new margin pair on Isolated Margin. This addition will take place within 48 hours from December 15, 2023, at 08:00 (UTC). The new isolated margin pair for BONK will be BONK/USDT.
How to Access BONK on Binance
Binance has implemented a new policy regarding tokens labeled with a Seed Tag on its Spot and Margin platforms. Users are now required to successfully complete relevant quizzes every 90 days, in addition to accepting the Terms of Use, in order to access these tokens. The quizzes have been designed to assess users’ awareness of associated risks before engaging in trading activities involving Seed Tag tokens.
Identification of Seed Tags can be done on the respective Binance Spot and Binance Margin trading pages, as well as on the Markets Overview page. In a further effort to emphasize risk awareness, a warning banner will be prominently displayed for all tokens featuring the Seed Tags. This comprehensive system aims to inform and educate users about the unique risks associated with these specific tokens.
It’s worth noting that the move comes after Coinbase’s announcement to list BONK, leading to a significant surge in the price of the meme coin.
Solana’s Saga Mobile Phones Sold Out Amid BONK Rally
The recent surge in the value of the Bonk token has resulted in a rapid sellout of Solana’s Saga mobile phones in North America, leaving only a limited number available in Europe. Each Saga mobile phone comes with 30 million Bonk tokens, valued at approximately $900 at the current BONK price, effectively covering the cost of the phone itself.
In an interesting turn of events, Anatoly Yakovenko, the co-founder of Solana Labs, recently expressed regret on a podcast regarding the initially underestimated success of Saga mobile phone sales. The popularity of the Bonk token has evidently contributed to a surge in demand for these phones.
