The official integration of BONK onto Robinhood Crypto in certain European Union regions has sparked enthusiasm within the community and among traders in the area.
Positive Market Reaction to BONK
The announcement, communicated through the official Robinhood Crypto EU X channel, marks a significant achievement for BONK as it becomes part of a respected selection of digital currencies open for trading on the platform.
After the news, the value of BONK surged by a notable 19% as investors demonstrated their interest. Analysts note that this increase aligns with BONK’s recent performance, where it outperformed PEPE in terms of market capitalization. Despite PEPE’s impressive 184.9% rise over the past week, its market cap of $1.34 billion was eclipsed by BONK’s $1.4 billion, showcasing a remarkable 90.5% spike in BONK’s value during the same timeframe.
According to information from CoinMarketCap, Bonk has experienced a consistent bullish trend, akin to its recent pattern that witnessed a noteworthy 10% value surge within a single day last month. This uptick was closely tied to Solana’s (SOL) recovery from its recent market struggles.
Expansion of Robinhood Crypto Platform
Robinhood, the online trading venue, reported earnings of $30 million, translating to three cents per share based on January data. This milestone represented its fastest-growing month since early 2021, with roughly $4 billion in crypto deposits in January alone.
Robinhood has been actively making headway in capturing market share from traditional brokerage behemoths.
With the addition of BONK, a meme coin functioning on the Solana blockchain, traders now have the ability to buy, sell, and exchange BONK round-the-clock, providing them with increased adaptability and accessibility in managing their cryptocurrency portfolios.
Robinhood Crypto has also integrated more than 30 other digital assets onto its platform. By including BONK, it elevates the coin to the status of premier cryptocurrencies accessible through Robinhood Crypto, alongside mainstream assets like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and numerous others.
In the future, Robinhood Crypto has signaled its intent to introduce additional digital currencies to its platform, broadening the range of choices accessible to traders and investors.