Solana-Based $BONK Soars 15% on Upbit Listing

Solana-based memecoin Bonk ($BONK) has witnessed a notable uptick after South Korea’s largest cryptocurrency exchange, Upbit, announced a listing for the token.

In a notice on Wednesday, Upbit said it would add $BONK to the Korean Won (KRW) trading market at 12:30 on November 20. The exchange added that deposits and withdrawals will only be supported on Solana.

Upbit warned that deposits must be made from exchanges listed as eligible virtual asset operators in compliance with the Travel Rule.

$BONK Jumps 15% on Upbit Listing

Following the announcement, $BONK, which has been rallying recently, jumped 15% to hit a new all-time high (ATH) of $0.00005825. This surge extended the memecoin’s weekly gain to over 71%.

Moreover, the uptick propelled $BONK’s market cap to $4.15 billion, ranking 1st in the Solana memecoin market and 35th in the global cryptocurrency market. The listing also boosted $BONK’s 24-hour trading volume, rising by a remarkable 94% to hit $3.5 billion.

This underscores the significant impact listings from a major cryptocurrency exchange like Upbit can have on the value of a digital asset. The listing is expected to bring more visibility and accessibility to $BONK, which has also secured listings from bigger exchanges like Binance, Coinbase, and Bybit.

$BONK traded at $0.00005662 at press time, representing a 13% surge on the day.

Growing Interest in Memecoins

Meanwhile, it appears Upbit has continued to develop a significant interest in the memecoin market as the exchange has listed several top memecoins in recent months.

In August, the Korean exchange announced listings for Pepe ($PEPE) and Brett ($BRETT). Following the announcement, $PEPE jumped by 13%, while $BRETT surged by 35%, with its daily trading volume jumping by nearly 200%.

The following month, the exchange announced a listing for cat in a dogs world ($MEW). Shortly after, the token rose by 30%, entering the top 10 largest memecoins and becoming the fourth biggest memecoin on Solana. Its 24-hour trading volume also rose by nearly 400%.