The altcoin market is abuzz with the news that Bonk Coin (BONK), a popular emerging cryptocurrency, is potentially on the brink of being listed by a new exchange. The European financial tech company Revolut is contemplating a $1.2 million promotional campaign aimed at adding Bonk to its offerings, which is anticipated to enhance the coin’s visibility among its users.
Revolut Campaign Fuels BONK’s Ascent
BONK’s governing body is currently reviewing the proposed campaign. The initiative has already gained widespread support, garnering eight affirmative votes, which exceeds the necessary 75% majority. Despite the endorsement, voters still have over three days to cast their ballots. Should the listing proceed, BONK could further bolster its market presence, adding to a series of significant exchange listings in recent months.
BONK’s Market Performance Shows Promise
In November, BONK caught the attention of the cryptocurrency community when it was added to the rosters of leading exchanges like Binance and Coinbase. Recent market activity has reflected a positive investor reaction to the news of the potential Revolut listing. On February 14th, Bonk’s value soared by more than 14%, marking the month’s second most substantial increase and lifting its Relative Strength Index (RSI) above 60.
Despite a slight over 2% dip in its trading price at the time of reporting, the altcoin remains in the spotlight. The anticipation surrounding the potential new listing and a surge in new user sign-ups could elevate trading volumes and foster expectations of price growth. Bonk’s trade volume surged by more than 75% over the prior 24 hours, indicating heightened investor interest following the listing news, as shown on CoinMarketCap’s volume chart.
Yet, according to data from cryptocurrency analytics firm Santiment, the recent volume spike, while impressive, doesn’t match the highest levels seen in the recent past. With a current trade volume of $194 million, BONK has seen even higher activity earlier in the month, crossing the $300 million threshold. The final approval of the listing could, therefore, usher in significant volume and price increases for the cryptocurrency.