BONK Token Surges 17% as Solana Saga Redemption Deadline Sparks $578M Trading Frenzy on Binance

BONKUSDT experienced a 17.31% price increase over the last 24 hours, rising from 0.00001415 to 0.00001660 USDT on Binance. The primary drivers of this upward movement include the announcement that BONK token redemptions for Solana Saga device users will be suspended after July 31, with unclaimed tokens transferred to the Bonk DAO, which may have contributed to renewed market interest. Additionally, a 4.18% increase in open interest for BONK derivatives and rising funding rates indicate heightened speculative activity and strong bullish sentiment.

Currently, BONKUSDT is trading at 0.00001660 with a 24-hour trading volume of approximately $578 million, a circulating supply exceeding 80 trillion tokens, and a market capitalization around $1.38 billion. The asset has shown significant volatility and strong investor interest, supported by high trading activity and positive momentum in the broader cryptocurrency market.