OKX, a renowned cryptocurrency exchange, announced two new listings on January 8, 2024. The platform is expanding its spot trading market by adding two new cryptocurrencies, Bonk (BONK) and Jito (JTO), based on the Solana blockchain. Ahead of this announcement, Jito and Bonk price declines extended with significant crashes.
Bonk and Jito spot trading pairs went live on OKX at 2 a.m. UTC on Monday, January 8, 2024. The listing of JTO introduces a liquid staking protocol within the Solana ecosystem. Moreover, it will enable SOL token holders to stake their tokens and receive Jito Staked SOL (JitoSOL) in return.
In addition to Jito, OKX added Bonk, a trending Solana meme coin. Bonk represents the lighter side of the cryptocurrency domain, focusing on community participation. For easy trading, the OKX crypto exchange structured the listing with JTO/USDT and BONK/USDT spot trading pairs.
Deposits for JTO and BONK tokens were activated on the same day. On the other hand, withdrawals are set to be available from 10:00 a.m. UTC on January 9, giving traders complete control over their assets. Considering the growing popularity of the Solana ecosystem, this strategic move could enhance OKX’s position in the cryptocurrency landscape.
Also Read: BONK Price Prediction for 2024: Poised to Surge to $0.00001857
As of writing, the Jito crypto price plunged by 12.73% to $1.53 on Monday. Whilst, its market cap dipped by 12.87% to $175.19 million. In addition, the crypto’s 24-hour trading volume slumped by a massive 51.47% to $127.62 million.
In the last seven days, after registering initial gains, the JTO price dropped significantly. Hence, its 1-week losses surpass 18%. Moreover, it has lost nearly 50% in the last 30 days. Though the recent OKX crypto exchange listing news could help in a price rebound, it’s still uncertain since the market volatility has been peaking in recent times.
On the other hand, Bonk, the dog-faced meme coin, experienced gigantic declines after surging unprecedentedly. The BONK price was down by 6.91% as it traded at $0.00001016 at press time on Monday. The meme crypto’s market cap stood at $643.38 million, down by 6.88%.
However, its 24-hour trade volume soared by 24.15% to $126.02 million amid recent price declines. In the last week alone, it has lost over 23% in value. Meanwhile, the 1-month loss is 19%, which is lower due to the initial spikes recorded last month.
On December 15, 2023, it registered an all-time high of $0.00003419 but is currently trading 70.29% lower than it. The current trend for the crypto is highly bearish while the latest announcement calls for a price rebound. However, there is a high chance that Bonk could succumb to the bearish turndown in the market before a rebound.
Also Read: Crypto Exchange OKX Delists Major Privacy Tokens From the Platform
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