Solana’s memecoin Bonk sees 13% surge ahead of potential Revolut listing
Bonk (BONK), a memecoin rooted in the Solana blockchain, saw its price soar by 13% amid reports of an upcoming listing on Revolut’s trading platform.
Revolut, a leading European fintech firm, is contemplating a partnership with Bonk, encompassing a “Learn and Earn Campaign.” The initiative, unveiled in a note by BonkDAO on Feb. 14, aims to bolster the memecoin’s user base by an ambitious 500,000.
BonkDAO, the decentralized autonomous organization steering the Bonk project, highlighted Revolut’s expansive user base of 38 million across more than 50 countries. Capturing just 1.3% of Revolut’s clientele would enable BonkDAO to achieve its user base expansion target.
The campaign is designed to incentivize Revolut users through rewards totaling $1.2 million. The price of BONK has responded positively to these developments, climbing to $0.00001425, with a 7% increase in the last five hours and a 12.6% rise over the past 24 hours, as per data from CoinMarketCap.
Revolut’s strategy includes distributing BONK tokens as rewards to users engaging with the platform’s educational content about the memecoin.
The governance council of Bonk, which manages a treasury exceeding $100 million in BONK tokens, has officially sanctioned the “learn” campaign. With eight out of 12 voting members in favor, the campaign has surpassed the necessary approval quorum without any dissenting votes.
Scheduled to unfold in two phases, the campaign will initially focus on BONK’s launch on Revolut to foster organic growth. This will be followed by the rollout of the Learn and Earn initiative, further promoting user engagement and knowledge about the memecoin.
Amid these developments, there are also unconfirmed reports about a potential listing of BONK on Robinhood, another mainstream crypto trading venue.
The speculation adds to the momentum BONK has been gaining, especially after its price soared by 19,000% since Nov. 1, 2023. The token’s remarkable journey has been marked by listings on leading exchanges like Coinbase and Binance, underscoring its growing appeal in the cryptocurrency landscape.
Originating as a token by Solana enthusiasts post-FTX’s collapse in November 2022, BONK aims to inject a sense of optimism into the Solana ecosystem. It has quickly risen to prominence within Solana’s community, serving as an incentive for various applications built on the blockchain.
Meanwhile, the latest development on Bonk coincides with Bitcoin’s remarkable ascent past the $52,000 threshold, pushing its market capitalization over the $1 trillion mark. The surge is attributed to the approval of spot Bitcoin ETFs and the anticipation surrounding Bitcoin’s expected halving event in April, signaling a buoyant period for the cryptocurrency market.
