Popular meme coin BONK (BONK) saw its price surge over 26% today following two key announcements that have generated further enthusiasm amongst the project’s passionate community.
Exchange Listing Drives Price Action
On December 25th, decentralized derivatives exchange Zeta Markets announced it would be listing BONK perpetual contracts for trading between December 25th and December 31st. In a Christmas Day tweet, the exchange stated:
“Merry BONKmas, manlets $BONK Perpetuals are now live for trading on Zeta Trade $BONK perps between now and the 31st of December and earn 2x Z-Score! ‘Tis the Season of giving, after all…”
The listing of BONK on a derivatives exchange allows traders to speculate on the token’s future price movements. The ability to trade futures and options contracts typically leads to increased volume and price action for an asset.
Community Campaign Offers BONK Rewards
In addition to the exchange listing, the BONK project itself generated buzz by launching a creative year-end community campaign offering BONK token rewards.
In a December 29th tweet, the official BONK Twitter account announced a 500 million BONK giveaway contest seeking users to share their 2023 BONK stories:
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +“Ready to share your 2023 BONK story before the year is over? 500 million $BONK will be distributed by @racket_wtf for some of you to earn with your personal story…”
The tweet goes on to outline a few simple steps for participants to take in order to potentially earn a share of the BONK rewards. This includes posting their BONK story for 2023 on another platform, amplifying it through an app called Racket, with the top 100 stories earning BONK by December 31st.
Initiatives like these that encourage user participation and highlight personal connections with the meme token serve to strengthen BONK’s passionate community. And it’s the vibrant community that gives BONK its staying power even amidst the volatility and ups-and-downs in the cryptocurrency markets.
As one BONK fan put it:
“BONK is one of the best things that happened to me all year.”
With key exchange exposure driving price action in the short-term and creative community-building campaigns keeping users engaged in the long-run, BONK continues to capture interest and carve out its niche in the expanding meme coin sector
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