Solana Memecoin Bonk Spikes 7% Amid Potential Revolut Listing

The price of Solana-based memecoin Bonk (BONK) spiked 7% shortly after news broke about a potential listing on Revolut’s trading platform. The spike occurred within a few hours of the news spreading, showcasing the power of hype and speculation in the cryptocurrency markets.

Under a proposed partnership, the European fintech firm Revolut plans to run a Bonk “Learn and Earn Campaign.” The campaign aims to increase Bonk’s user base by a staggering 500,000 users, according to a Feb 14 note from BonkDAO, the decentralized autonomous organization behind Bonk.

Details of BONK’s Learn and Earn Campaign with Revolut. Source: Realms

Revolut currently boasts an impressive 38 million users and operates a banking license in over 50 countries, BonkDAO noted. Capturing just 1.3% of Revolut’s vast user base would help Bonk reach its ambitious goal of expanding its user base.

Revolut users will reportedly receive attractive rewards for joining the Learn and Earn campaign to incentivize participation. A substantial $1.2 million in rewards is up for grabs, making it an enticing offer for Revolut’s users.

Following the news of the potential partnership, Bonk’s price today is $ 0.00001434 with a 24-hour trading volume of $ 157.37M and a market cap of $ 908.43M; the BONK price increased 14.74% in the last 24 hours.

Source: CoinMarketCap

Solana: Bonk (BONK) Surges 7% On Revolut Speculation

BONK gained significant popularity in late 2023 when its price surged an incredible 14,000% to $0.000025. Although the meme coin has since fallen 60% from its all-time high, it remains one of the most popular meme coins by trading volume.

The Learn and Earn campaign still requires official approval from BonkDAO’s voting members. Seven out of the 12 Bonk voting members have voted in favour of the partnership, with just one more vote needed to reach the approval quorum. Notably, only a few members have voted against the campaign so far. The remaining five voters have four days to cast their decisive votes.

The Learn and Earn campaign will roll out in two waves if approved. The first wave involves BONK’s launch on Revolut’s platform, aiming for “organic growth” for one to two months. The Learn and Earn campaign will commence after this initial phase, driving further engagement and user acquisition.

Meanwhile, rumours are swirling that BONK could soon be listed on the popular trading platform Robinhood. However, neither Robinhood nor BonkDAO has publicly confirmed or denied these speculations, leaving the crypto community eagerly awaiting further developments.

Related Reading | Bitcoin Outflows From Coinbase Surge, Possible Bullish Signal

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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