FLOKI And BONK Drop 5% After Revolut Listing Announcement

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Over the past weekend, FLOKI and BONK experienced significant growth following their recovery from the Bitcoin price drop at the end of last week. These two tokens have been particularly popular during this bull market, with FLOKI seeing an over 500% rise and BONK achieving a gain of nearly 87%.

In recent developments, memcoins of both varieties have been added to Europe‘s neo bank and retail platform, Revolut. Yet, this news failed to significantly influence the value of these tokens. Lately, however, the latest updates from these projects have propelled them upward in the past hour.

FLOKI And BONK To Take Over Europe

On Monday, the projects made public their availability for trading on Revolut. This new addition extends the influence of FLOKI and BONK to a larger market, since Revolut boasts a user base of 40 million individuals in more than 150 nations.

#FLOKI just got listed on Revolut, the biggest neobank and retail trading app in Europe!
With this listing, over 40 million users of RevolutApp, residing in more than 150 countries, will have the opportunity to purchase FLOKI using 25 or more fiat currencies such as GBP, EUR, and USD.
Users…
— FLOKI (@RealFlokiInu) April 22, 2024

Additionally, the list provides an option for users to purchase tokens using 25 different fiat currencies such as EUR, GBP, and USD, right from the Revolut app. As stated in the BONK X announcement, Europeans and qualified users can begin participating in the Learn and Earn program starting April 29.

Crypto trader Altcoin Gordon expressed his excitement to his 458,000 followers about the upcoming listing, describing it as significant. This event, he explained, would enable the tokens to contend with the popularity of Dogecoin (DOGE), Dogewhatt (WIF), PEPE, and Shiba Inu (SHIB).

After the announcement was made, FLOKI‘s tokens showed only modest growth. Specifically, their price went up by 2% within an hour, reaching $0.0001778. However, this uptick was short-lived, and the token’s value decreased by 5.3%, dropping to $0.0001693 just a few hours later.

Simultaneously, the price of Bonk rose by 3.7% to reach $0.0002069, but then decreased by 3.4%, touching $0.0001990.

Just like FLOKI and BONK, each token experienced a notable decline in trading activity during the last 24 hours. Specifically, FLOKI’s daily trading volume decreased by approximately 31.6%, while BONK saw a drop of more than 51%.

New Announcements Boost Prices

On Tuesday morning, the price of FLOKI was around $0.0001727, which was a 0.4% increase from its cost the previous day. In contrast, BONK was priced at approximately $0.00002019, marking a 2.6% decrease from its price the day before.

The latest updates from the project have boosted the value of its tokens. Specifically, FLOKI revealed that $18 million in $ATS tokens were secured by Alltoscan for 15 months through FlokiFi Locker’s crypto locking protocol.

Alltoscan recently obtained approximately $18 million in $ATS tokens for a term of 15 months through Floki’s sophisticated crypto vaulting method, known as FlokiFi Locker. @alltoscan is working on creating an open-source block explorer that is compatible with all rollups, allowing users to examine their L2 transactions.
— FLOKI (@RealFlokiInu) April 23, 2024

The news seemed to be met with enthusiasm by the community, possibly explaining the 5.5% increase of the token in the past hour. Likewise, FLOKI experienced a significant surge, rising by 11.2% over the previous 24 hours.

In the meantime, BONK introduced JT Liss, a well-known artist, as their “Creative Lead for BONK Art Masters” at Bonk. JT will oversee the BAM residency program and the Creator Grants scheme to expand artistic prospects within the Solana community.

After this announcement, BONK’s value rose by 4.3% within an hour and experienced a gain of 5.6% compared to its price from the previous day. Currently, the token is being traded at $0.00002164.

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2024-04-24 01:16