Binance announces a list of two new cryptocurrencies

One day after paying a R$21 billion fine to the US, the broker Binance continues to add cryptocurrencies to its platform. On Wednesday (22) it was memecoin’s turn Bonk (1000BONK) be made available on the Binance derivatives market.

With the listing, BONK is up 11.8% daily, with a market value of $235 million. Memecoin volume also saw a slight increase of 5%.

Another cryptocurrency added to the Binance futures market was Pyth Network (PYTH), which rose 37% this Wednesday, after jumping from US$0.32 to US$0.45. Both projects are only available on the futures market and can be traded with up to 50 times leverage.

Bonk (1000BONK), new memecoin tradable on Binance

According to information on its website, the Bonk (1000BONK) is a memecoin that was airdropped to the Solana (SOL) community at Christmas 2022. About a year later, the cryptocurrency already has more than 473 thousand investors.

“The people’s dog coin.”

Bonk website (1000BONK) with some information about the project.  Reproduction.
Bonk website (1000BONK) with some information about the project. Reproduction.

Since it is a memecoin, it is difficult to find more details about the project. Bonk’s website only contains some art made by his fans and nothing else. Its main competitors are Dogecoin (DOGE), Shiba Inu (SHIB) and Floki Inu (FLOKI), also based on dogs.

Pyth Network (PYTH) gains ground after listing on Binance

Although not available on the Binance spot market, the Pyth Network (PYTH) has benefited greatly from its listing on the futures market. In the last 24 hours, the project has increased in value by 37% and trading volume has increased by 35%.

Unlike Bonk, PYTH is a more serious project, focused on the oracle sector. Its main competitors are Chainlink (LINK), Band Protocol (BAND) and Tellor (TRB), with the latter up 1,000% in value over the past three months.

“Secure your smart contracts with reliable, low-latency market data from institutional sources”points to the description on the official Pyth Network website. “Build applications with high-fidelity oracle feeds designed for mission-critical systems.”

Finally, both PYTH and BONK can now be traded on the Binance futures market. The official listing announcement can be found on the broker’s website, which contains additional information about the new trading pairs.

Source: Live Coins