Crypto exchange Coinbase has announced the listing of the Solana-based meme coin Bonk for trading in New York, a day after adding support for XRP. The news has sent the BONK price soaring by over 10%.

Coinbase Welcomes Bonk to New York

In a post on X (formerly Twitter), Coinbase shared the exciting news of listing Bonk (BONK) for its New York customers. The crypto exchange expressed its support for both XRP and the Solana meme coin Bonk, showcasing an image that reads "NY Loves XRP and BONK."

Coinbase users in New York can now trade BONK on the Coinbase website, iOS app, and Android app. The exchange further clarified that customers can buy, sell, convert, send, receive, or store these assets.

This move comes a day after Coinbase listed XRP, expanding its support for the much-discussed cryptocurrency. The U.S. Securities and Exchange Commission (SEC) continues to argue that XRP is a security, potentially challenging Judge Torres' summary judgment that XRP itself is not a security.

In addition to the BONK listing, Coinbase has also expanded its support for meme coins Shiba Inu (SHIB), FLOKI, and BONK by listing 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP perpetual futures contracts, which will be tradable from May 30.

BONK's Market Performance

Bonk's price immediately reacted to the Coinbase announcement, surging by more than 10% within a few hours. This demonstrates the strong demand for meme coins. Santiment, a market analysis firm, recently revealed that the hype surrounding the spot Ethereum ETF has been a catalyst for price rallies in cryptos such as ETH, UNI, PEPE, BONK, and LDO, which saw gains exceeding 20%.

Although BONK's price jumped after the announcement, it is currently trading 3% down in the last 24 hours. The price stands at $0.00003293. Bonk has rallied over 46% in a week and 55% in a month.

On the derivatives front, Bonk futures trading has remained volatile in the last few hours. Traders have been selling 1000BONK futures on top exchanges like Binance and Bybit, as per data from Coinglass.

The Coinbase listing of Bonk, along with the recent XRP listing, highlights the exchange's commitment to expanding its support for various cryptocurrencies. As the crypto market continues to evolve, exchanges like Coinbase play a crucial role in providing access to a diverse range of digital assets for their customers.