Bitstamp, a well-known cryptocurrency exchange and one of the oldest in the industry, has recently announced the addition of BONK, a meme-inspired cryptocurrency that has gained popularity on the Solana blockchain. The exchange now offers BONK/USD and BONK/EUR trading pairs, allowing global users (excluding those in the United States and Singapore) to access the coin on the platform.
This move comes several months after Robinhood, renowned for its commission-free trading platform, integrated BONK, which resulted in a 19% increase in the coin’s value in March. As of the time of writing, the price of Bonk is listed at US$0.00002163, experiencing a 1% decrease in the last 24 hours.
Woof woof! $BONK is now available on Bitstamp! Explore the entertaining side of cryptocurrencies and discover this popular #memecoin from @solarium today. Start trading: [insert Bitstamp trading link here] @bonk_inu [insert Bitstamp tweet image here]
The relatively stable pricing behavior may be attributed to the ongoing regulatory challenges surrounding the cryptocurrency market. The US Securities and Exchange Commission (SEC) has increased its scrutiny, classifying several cryptocurrencies, including Solana, as unregistered securities in recent legal actions against platforms like Binance and Coinbase.
Despite the challenging regulatory environment, Robinhood appears undeterred and has announced its ambitious plans to acquire Bitstamp. The acquisition, valued at US$200 million, was announced at the beginning of the month and is expected to be finalized in the first half of 2025.
According to broker Bernstein, this acquisition has the potential to significantly expand Robinhood’s cryptocurrency portfolio. Currently, Robinhood offers around 15 tokens in the US and over 30 in Europe, while Bitstamp boasts a catalog of more than 85 tokens.
Disclaimer: The opinions expressed in this article, by the author or anyone mentioned, are for informational purposes only and should not be considered as financial, investment, or any other form of advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Editor’s Choice: Memecoins outperform Bitcoin and achieve better performance in 2024 Blockchain Toncoin emerges with growth and surpasses Ethereum in this metric; TON rises 7%