BONK Bounces Onto Coinbase's Radar!

Coinbase has included BONK in its roadmap, causing the price of the meme coin to spike.

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Here's what we've got for you today:

🐾 Solana Meme Coin BONK Added To Coinbase Roadmap

🌐 BTC Outperforms Tech Giants and Soars in Inflation-Hit Nations

🩹 NFT Market Shows Signs of Recovery with Increased Trading Volume

💎 Coinbase Unveils Project Diamond for Institutional Asset Management

BONK’s price jumped after Coinbase’s announcement, but an analyst believes the meme coin might face headwinds soon.

Coinbase's recent inclusion of the meme coin BONK in its roadmap ignited a surge of interest, resulting in a swift 17% price hike right after the announcement was made. BONK has since climbed to become the third-largest meme coin by market capitalization, overtaking PEPE. Despite its remarkable growth in recent months, market analyst Ali Martinez has warned that BONK could be nearing a potential reversal.

Throughout 2023, BTC displayed great resilience, achieving remarkable year-to-date gains of more than 153% and outperforming major tech companies.

BTC recently reached new all-time highs in countries dealing with very high inflation rates, such as Argentina, Turkey, Egypt, Nigeria, Lebanon, and Pakistan. Nonetheless, it's important to acknowledge that BTC is still trading about 39% below its previous all-time high against the U.S. dollar, which was reached in November of 2021.

🩹 NFT Market Shows Signs of Recovery with Increased Trading Volume

NFT transaction values surged by 114%, suggesting that things could be changing for the better for the struggling NFT market.

Industry experts and Web3 executives are approaching the recent NFT market resurgence with cautious optimism. Reports from analytical firms like Nansen indicate a consistent uptick in NFT sales, with consecutive weekly gains observed throughout October and early November. Jonathan Perkins, co-founder of SuperRare, also remains hopeful and believes that the market has endured the worst of its downturn, and expects further improvements in the months to come.

Initially, Project Diamond will have limited access and will be exclusively available to registered institutional users situated outside of the United States.

Coinbase's assessment indicates that blockchain infrastructure currently represents only a fraction, less than 0.25%, of the total global assets, leaving substantial untapped potential. In response to this, the exchange aims to address this disparity by allowing institutional access to cutting-edge financial technology. Project Diamond will leverage Coinbase's technology stack and Base to facilitate the creation, purchase, and sale of digitally native assets.


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