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Binance Launches Margin Trading For Bonk Among Others, BONK Price To Rally?

Crypto exchange Binance launches cross margin and isolated margin pairs for Solana meme coin Bonk. Will BONK price witness a recovery?

Published by

Varinder Singh

Updated 19 Dec, 2023 | 02:59:12 PM UTC

The world’s largest crypto exchange Binance on Tuesday said it is further expanding BONK trading on the platform by adding it to the Binance Margin. The moves after the crypto exchange announced BONK listing with three new pairs amid massive demand for the meme coin. Will the move bring a recovery in Solana-based meme coin BONK price?

Binance Launches Margin Trading For Bonk

According to an official announcement on December 19, Binance will add Bonk (BONK) to its Binance Margin. With the latest move, Binance has expanded its offerings for users looking to capitalize on the BONK price rally.

Bonk (BONK) is now available as new borrowable assets on the cross margin in BONK/USDT pair and isolated margin in BONK/USDT pair.

Binance has also added ACE/USDT, ALPACA/USDT, DATA/USDT, and FUN/USDT cross-margin pairs. Also, ACE/USDT and XNO/USDT in isolated margin pair.

“Binance Margin strives to enhance user trading experience by continuously reviewing and expanding the list of trading choices offered on the platform, allowing for greater diversification of user portfolios and flexibility with trading strategies, said Binance.

Also Read: BONK Price Notes Monthly Surge Of 750% Outshining DOGE & SHIB

Last week, Binance launched new spot trading pairs for Bonk such as BONK/USDT, BONK/FDUSD, and BONK/TRY amid amid massive demand from its users. Crypto exchanges including Coinbase and Crypto.com also listed Bonk, causing BONK price to rally over 1000% in a month.

Binance also added Bonk (BONK) to its Binance Convert service, which offers users to trade BONK with zero fees.

BONK price jumped more than 1% in the past 24 hours, with the price currently trading at $0.0000202. The 24-hour low and high are $0.0000188 and $0.0000229, respectively. Furthermore, the trading volume has decreased by nearly 40% in the last 24 hours, indicating a decline in interest among traders.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by

Varinder Singh

Updated 19 Dec, 2023 | 02:59:12 PM

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