The cryptosphere is buzzing with the name Bonk (BONK), a Solana-based meme coin that’s experiencing a meteoric rise. It is fueled by a recent embrace from exchange giant Binance and the savvy maneuvers of a whale trader who bagged a cool $9 million.
Binance announced the expansion of its BONK offerings, adding the meme coin to its Convert service. This move allows users to effortlessly swap BONK for other cryptocurrencies like Bitcoin (BTC) and Tether (USDT) – and all without incurring fees. As if that wasn’t enough fuel for the Bonk fire, Binance Auto-Invest will start offering BONK purchases on December 19.
But Binance isn’t the only one making waves. On social media, particularly X, Bonk is the talk of the town. And amidst the chatter, one particular whale trader’s story is captivating the crypto community. According to on-chain data sleuths at Lookonchain, this investor spent the past 10 months strategically accumulating a whopping 371.4 billion BONK tokens.
Then, with the Binance announcement acting as a catalyst, the whale made a calculated move. They sold 48 billion BONK, pocketing a hefty 17,677 SOL ($1.36 million) in profit – a testament to their foresight. Yet, they remain a major BONK player, holding onto a staggering 274.4 billion tokens, currently valued at a mind-boggling $8.33 million. This whale’s success story is a stark reminder of the potential rewards and risks associated with navigating the volatile waters of meme coins, suggested by this tweet:
Bonk’s surge isn’t just about whales and exchanges. A deep dive into a prominent Solana address, dubbed “EXPERT NFT MINTER,” revealed another facet of the story. This hefty wallet holds over $1.8 million in SOL and a diverse portfolio of Solana Program Library (SPL) tokens, including Bonk. The “EXPERT NFT MINTER” moniker hinted at their involvement in the NFT space, and their transaction history paints a picture of active participation in both minting and trading activities. It seems this whale is riding the Solana wave, adeptly navigating the world of NFTs and DeFi protocols.
BONK recently underwent a remarkable surge that captured the interest of both investors and traders. The driving forces behind this rapid ascent were the coin’s recent listing on Binance and its addition to Coinbase. These pivotal events propelled BONK’s market capitalization to an astonishing 116% growth within a mere 24 hours.
