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Following its listing on Coinbase, Binance has revealed plans to list the highly anticipated meme coin, BONK, under the seed tag section. Trading for this Solana-based meme coin is set to commence at 16:00 Beijing time.
Over the last 24 hours, the price of BONK has surged by more than 115%, contributing to an impressive 1100% increase over the past 30 days.
BONK, with a market cap exceeding $1.7 billion, now stands as the third
Cryptocurrency asset adoption is high in countries like India, and the challenge is that high crypto asset adoption could undermine macrofinancial stability, says IMF Chief @Armilu #Cryptocurrency #IMF #crypto #India https://t.co/KPXLMDmnNA
— Business Standard (@bsindia) December 15, 2023
BONK Deposits Live on Binance: Meme Coin Momentum Builds
In response to the official announcement, users on Binance can now prepare for trading with the introduction of new spot trading pairs for BONK, namely BONK/USDT, BONK/FDUSD, and BONK/TRY. Deposits for the meme coin are currently open, with withdrawals slated to commence on December 16th at 08:00 (UTC).
Additionally, within the next 48 hours from December 15, 2023, at 08:00 (UTC), Binance will include BONK as a new borrowable asset in a fresh margin pair on the Isolated Margin. This newly introduced isolated margin pair for the cryptocurrency will be BONK/USDT.
Accessing BONK on Binance: A Step-by-Step Guide
This new protocol on Binance reflects a proactive approach to risk management, requiring users to periodically demonstrate their awareness of associated risks through quizzes.
These measures, including the identification of Seed Tags and the prominent display of warning banners, contribute to a more informed user base, particularly concerning the unique risks tied to tokens with Seed Tags. The surge in the price of BONK following Coinbase’s announcement underscores the market’s responsiveness to developments in the cryptocurrency space.
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