Binance Launches Margin Trading For Bonk

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

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.

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 $0.00001915i . 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.