Bonk, a memecoin, experiences a 13% increase prior to potential listing on Revolut.
Bonk, a memecoin that operates on the Solana blockchain, experienced a significant price increase of 13% following reports of an upcoming listing on Revolut’s trading platform. Revolut, a leading European fintech company, is considering a partnership with Bonk that involves a “Learn and Earn Campaign.” This campaign, which was announced by BonkDAO on February 14th, aims to attract 500,000 new users to the memecoin.
BonkDAO, the decentralized autonomous organization responsible for overseeing the Bonk project, emphasized Revolut’s extensive user base of 38 million people across more than 50 countries. By capturing just 1.3% of Revolut’s clientele, BonkDAO would be able to achieve its goal of expanding its user base.
The campaign is designed to incentivize Revolut users by offering rewards totaling $1.2 million. As a result of these developments, the price of BONK has risen to $0.00001425, with a 7% increase in the past five hours and a 12.6% increase over the past 24 hours, according to data from CoinMarketCap.
Revolut’s strategy involves distributing BONK tokens as rewards to users who engage with the platform’s educational content about the memecoin. The governance council of Bonk, which manages a treasury of over $100 million in BONK tokens, has officially approved the “learn” campaign. With eight out of twelve voting members in favor, the campaign has received the necessary approval without any dissenting votes.
The campaign will unfold in two phases, with the initial focus being on the launch of BONK on Revolut to encourage organic growth. This will be followed by the rollout of the Learn and Earn initiative, which will further promote user engagement and knowledge about the memecoin.
In addition to these developments, there are rumors of a potential listing of BONK on Robinhood, another popular cryptocurrency trading platform. This speculation adds to the momentum that BONK has been gaining, especially after its price increased by 19,000% since November 1st, 2023. The token’s impressive journey has included listings on major exchanges such as Coinbase and Binance, highlighting its growing popularity in the cryptocurrency market.
Originally created by Solana enthusiasts after FTX’s collapse in November 2022, BONK aims to bring optimism to the Solana ecosystem. It has quickly gained prominence within the Solana community and serves as an incentive for various applications built on the blockchain.
The latest development surrounding Bonk coincides with Bitcoin’s surge past the $52,000 mark, pushing its market capitalization over $1 trillion. This surge is attributed to the approval of spot Bitcoin ETFs and the anticipation of Bitcoin’s expected halving event in April, signaling a positive period for the cryptocurrency market.
