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Following the listing of the trend memecoin Bonk (BONK), based on Solana, by leading cryptocurrency exchanges Coinbase and Binance, the price of the altcoin has shown an increase of about 200 percent over the past week and a thousand percent over the past month. Other popular cryptocurrency exchanges have also joined the BONK listing frenzy. Amidst this commotion, on-chain data reveals that some large investors who have reaped high gains have started selling.
Sales of BONK after Major Listings
On-chain data provider Lookonchain reported today from its official X (formerly known as Twitter) account that the listing of Bonk on major cryptocurrency exchanges has triggered the “buy the rumor, sell the news” reaction among whale-level BONK investors.
According to data provided by Lookonchain, a cryptocurrency whale purchased 52.3 billion BONK for $927, gaining over $750,000 in profit. The whale added another 69 billion BONK to their holdings when the altcoin was trading at $0.0000021. Furthermore, the whale staked all of the BONK purchased between October 30 and November 29. As of the writing of this article, the whale holds Solana (SOL) worth $362,598 but no BONK, as they have transferred and sold all of their BONK to cryptocurrency exchanges.
Moreover, it was identified that the leading market maker DWF Labs recently transferred 50 billion BONK worth $1.6 million to Binance, switching to the selling side of the altcoin.
BONK AirDrop Causes Saga Stocks to Sell Out
On the other hand, people have been competing to benefit from the Bonk AirDrop carried out via Solana’s smartphone Saga. Following the rush towards Saga, Solana Mobile announced today that the smartphone’s stocks have sold out in the US.
This high interest in Saga followed the recent rally, making the Bonk AirDrop more valuable than the phone itself. Currently, those who purchase the Saga phone, selling at $599, can benefit from 30 million BONK AirDrop worth over $900.
