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BONK, a Solana-based cryptocurrency, has seen remarkable developments in recent times. On October 16, 2024, BONK topped the cryptocurrency market, outperforming major coins such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). The coin was trading near $0.000025, recording a rise of more than 15% in 24 hours, with a 35% increase in trading volume, reflecting the growing interest from investors and traders.
In September 2024, the BONK community announced the launch of an exchange-traded product (ETP) in the United States, in partnership with Osprey Funds. This launch is expected to increase investor interest and boost the value of the coin in the long term.
Additionally, BONK has conducted several burns to reduce supply and increase scarcity. In December 2024, 1.69 trillion tokens worth approximately $52 million were burned under the “BURNmas” initiative, representing approximately 1.8% of the total supply of 92.7 trillion tokens.
Currently, BONK is trading at $0.00001722, a change of -0.00000006 (-0.03529%) from the previous price. The coin recorded a daily high of $0.00001791 and a daily low of $0.00001685.
These developments indicate that BONK continues to strengthen its presence in the cryptocurrency market through multiple strategies, including launching new products and token burns, which could help increase its value and attract more investors in the future.
