TL;DR
- 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.
