Bonk
About Bonk
Introduced as the first dog-themed cryptocurrency on the Solana platform, Bonk serves for and by the community. Launched in December 2022, the coin has whipped up substantial excitement within the crypto circle and even caused a significant increase in the price of the SOL token. The primary intent behind its creation is to revive liquidity to Solana-based decentralized exchanges (DEXs) and establish a coin that is utilized across all the Solana-based dApps. Bonk has been airdropped to Solana NFT collectors, developers, and artists at random.
In the last hour, Bonk's price has seen a change of +1.85%, and over the past 24 hours, its price has moved by +6.88%. Over the previous week, Bonk's price has moved by +34.59%. The current price of Bonk is BHD 0.000001349, accompanied by a trading volume of 58.24M in the last day. Bonk's price is currently 93.95% below its all-time high of BHD 0.00002230, which remains the highest price Bonk has achieved since its launch. The circulating supply of Bonk stands at 87.99T, translating to a total market capitalization of 118.7M.
Market stats
Frequently asked questions
What is Bonk?
Bonk and its trading symbol (BONK) is a new cryptocurrency built on the Solana blockchain and is a token of the Solana Protocol Library (SPL). The coin relies on the Proof of History (PoH) consensus mechanism and the Proof of Stake (PoS) consensus mechanism, and is also considered the first Dogecoin-like cryptocurrency on this network, having been specifically designed and developed for the user community. The BONK project was launched with a total supply of approximately 93 trillion coins. This supply includes allocations for team development, marketing, initial liquidity, the decentralized autonomous organization (DAO) of BONK, and others. As of January 2024, there were approximately 56 trillion BONK tokens in circulation.
How does Bonk work?
Bonk operates as an SPL token on the Solana network, leveraging its high-speed, low-cost infrastructure. It uses a unique consensus mechanism known as the Proof of History mechanism, integrated with the Proof of Stake mechanism, which enables thousands of transactions per second at minimal fees. This technical architecture enables Bonk to be transferred and traded efficiently, making it suitable for various decentralized applications and community activities. The token’s smart contracts were built using Solana’s native programming capabilities, ensuring seamless integration with the broader Solana ecosystem.
How do you buy BONK on the Rain platform?
Buying BONK on Rain involves a few simple steps:
- Ensure you have funds in your fiat account or add your card in the payment methods section.
- Click “Trade” and select “Buy”.
- Select the cryptocurrency you wish to buy.
- Enter the amount you wish to buy in your preferred currency.
- Choose your payment method, either using a bank card or the cash balance in your fiat wallet.
- Click “Next” to review your transaction details.
- Click “Buy Now” to complete the purchase.
BONK will be added to your wallet after the transaction is executed. At Rain, we use cold storage to keep the majority of our clients’ assets offline.
Rain is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). This provides customers with a regulated framework for trading digital assets in the region.
What are the risks and considerations?
Before purchasing BONK, it is important to understand the associated risks:
• Price volatility risk: the token may be subject to sharp price fluctuations.
• Risk of lack of intrinsic value: there is no intrinsic value behind meme coin projects, which may mean they offer no real value beyond price speculation, a factor that could affect the token’s long-term viability.
• Liquidity risk:liquidity may affect the coin’s price movement.
• Governance and regulatory risks:the coin’s value may be affected by legislation and regulation.
• Security risks: you must protect your account with a strong password and two-factor authentication, and choose an appropriate storage method after thoroughly researching your options.
You should not buy BONK based solely on price predictions. Instead, you should study the whitepaper, the currency’s use cases, the project behind it, and your risk tolerance before making any decision.
Who is the development team behind Bonk?
The coin was developed within the Solana blockchain community by a group of anonymous individuals, meme coin developers often use this approach to conceal their identities.
What is the total supply of BONK?
The total supply of BONK is approximately 100 trillion tokens.
What is the total supply of Bonk?
The total supply of Bonk is 1 million coins. This limited supply helps to create scarcity and drive value for holders of Bonk.
How can one acquire Bonk tokens?
Bonk tokens can be acquired through decentralized exchanges or by participating in yield farming. Users can also earn Bonk tokens by providing liquidity to the Bonk ecosystem or by staking their tokens.
What is the utility of Bonk tokens?
Bonk tokens have various utilities within the ecosystem. They can be used for governance, allowing holders to vote on proposals and changes. Additionally, Bonk tokens can be staked to earn rewards, providing an incentive for long-term investment in the project.
How does Bonk contribute to decentralized finance (DeFi)?
Bonk plays a role in the DeFi space by providing users with opportunities to participate in yield farming, liquidity provision, and staking. By offering these avenues for users to engage with the protocol, Bonk contributes to the growth and innovation of decentralized finance.
How to invest in Bonk?
Rain offers you a number of ways to start investing in Bonk, including buying Bonk through bank transfers or by using your bank card. To purchase Bonk on Rain, you can select Bonk in your Rain account, then click Trade and select Buy. Enter the amount you wish to buy and click Next to review and confirm your purchase.
How to buy Bonk with card?
Once you add your bank card to your Rain account, you can use it to buy Bonk directly. You can start by adding your card to your payment options on your Rain account. To purchase Bonk using your bank card, you can select Bonk, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.
note: The purchase option with debit or credit card is not available for our users in Turkey
How to buy Bonk through bank deposit?
Rain enables you to buy Bonk using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.
Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing Bonk. To do that, you can select Bonk in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.
How to sell Bonk?
This is an easy process that requires only a few clicks. Here are the steps needed to sell Bonk successfully:
On your Rain account, select Bonk then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.
How to convert Bonk into cash?
Rain gives you the opportunity to sell Bonk and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.
Once your bank account is added, you can sell Bonk and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.
Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.
How to receive Bonk?
If you would like to receive Bonk in your Rain account, simply click on Receive and select Bonk from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.
Make sure that you are using the correct network when receiving Bonk to avoid possible loss of funds.
How to send Bonk?
You can easily send your Bonk from your Rain account to any external wallet by clicking on Send and selecting Bonk from the list at the top of the page. Enter the amount you wish to send and add the external wallet address you are sending to. Click Next to review and confirm your send transaction by entering an OTP.
Why buy Bonk with Rain?
When you buy Bonk with Rain, you ensure that your assets are going to be safely stored on a regulated platform that follows strict compliance standards and is subject to periodic audits. Rain also uses bank-grade security measures like Cold Storage systems. Trading and storing Bonk on Rain also means that your asset is going to be stored on 1:1 basis, which means your assets will always be available to you.
What is a Bonk wallet?
A Bonk wallet is where you can securely store Bonk. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a Bonk address?
A Bonk address is a string of unique characters that is tied to your Bonk wallet. The address functions just like a bank account number and it is what you use in order to send Bonk from your wallet, or to receive Bonk to your wallet.
What trading pairs available for Bonk?
There are over 200 currency pairs available on Rain for you to trade with. You can trade Bonk with Bahraini dinar, Kuwaiti dinar, Emirati dirham, Omani rial or US dollar, depending on your location. Additionally, you can swap Bonk with 200 other assets like BTC, LTC, XRP, ETH. You can explore your options by visiting the market page on your Rain account: https://www.rain.com/market
What is the minimum order size to buy Bonk?
You can trade Bonk with any amount above $30 or equivalent in your account's currency. You can start trading Bonk now by clicking the Trade button on your Rain account.
What are the most popular cryptocurrencies besides Bonk?
Besides Bonk, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What blockchain is Bonk built on?
Bonk is built on the SOL blockchain. This determines how transactions are verified, fees are structured, and how compatible it is with wallets and other decentralized applications (dApps).
How do I keep my Bonk safe?
To keep your Bonk safe, make sure to use trusted wallets that support SOL. Enable two-factor authentication (2FA), store long-term assets in cold wallets, and never share your private keys with anyone. You can always refer to our Security & Policies section for more tips.
What will the price of Bonk be in next 5 years?
Price predictions for Bonk over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading Bonk taxable?
Trading Bonk may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is Bonk's ATH?
Bonk’s all-time high (ATH) was BHD 0.00002230 on 20 Nov 2024. This represents the highest recorded market price of the asset to date.
What is the market cap of Bonk?
With a market capitalization of 118.7M, Bonk is ranked 100 among other crypto assets.
What is the all-time high of Bonk?
The highest valuation of Bonk since its launch was at BHD 0.00002230, marking its all-time high.
What is the 24-hour trading volume of Bonk?
The trading activity of Bonk over the last 24 hours was at 58.24M, highlighting its liquidity in the market.
How many Bonk are there in circulation?
There are approximately 87.99T units of Bonk currently in circulation, affecting its market dynamics.
What is the relative popularity of Bonk?
Bonk market cap is around 118.7M.
When was Bonk created?
Bonk was introduced on 25 Dec 2022.
Website
White paper
Source Code
