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$BONK, the first dog-themed coin on Solana, is seeing a surprising 20% jump as the entire crypto market received a positive boost in the wake of $XRP positivity.
Ripple scored a huge win in the SEC lawsuit, as the judge ruled that $XRP is not a security. The news gave hope to crypto investors, who breathed a sigh of relief that other altcoins may not be considered securities after all.
$BONK, just like the rest of the crypto market, celebrated the win as it sent a congratulatory message to $XRP via its official Twitter account.
Owing to the positivity, $BONK traded higher. At the time of writing, $BONK was up 19% in the last 24 hours to $0.0000004. The token hit intraday highs of $0.00000042 in a two-day rise, breaching above the critical barrier at $0.00000037, which had hampered its price growth for weeks. $BONK is up 18.27% in the last seven days.
$BONK has largely engaged in sideways trading shortly after setting an all-time high of $0.000004922 in January. Save for a few price bursts, $BONK's price has remained mostly stagnant, down 91.58% from its ATH.
$BONK teases new releases
Via its official Twitter handle, $BONK hints at ongoing development on a fully-on-chain Solana game powered by $BONK. It highlights the possibility of a testnet release this weekend.
Testnet this weekend btw 🐕 https://t.co/qQyD0z4uH5
— Bonk! (@bonk_inu) July 13, 2023
Likewise, $BONK teases BonkSwap 2.0, which will introduce a few innovations to the DEX game on Solana.
In April, Bonk developers launched the dog-themed protocol's native decentralized exchange (DEX), called BonkSwap, in one of its first major releases.
Users can swap Solana SOL, $BONK and stablecoins via the BonkSwap DEX, which makes use of Solana smart contracts. About 80% of fees on BonkSwap will be used to reward locked stakers of Bonk and BonkSwap LP positions as well as liquidity providers.