Coinbase Catalyzes FLOKI's Surge with New Listing Announcement
by aria-crypto.com
November 22, 2024 at 20:35
Coinbase Catalyzes FLOKI's Surge with New Listing Announcement
FLOKI, a dog-themed cryptocurrency that competes with Dogecoin (DOGE) and Shiba Inu (SHIB), has experienced a notable uptick following its support by the major US crypto exchange, Coinbase.
Coinbase's recent announcement on the social media platform X indicated the addition of FLOKI, originally inspired by Elon Musk's pet, to its trading platform.
The exchange plans to enable trading of FLOKI as an ERC-20 token on the Ethereum network starting November 21, 2024, conditional on adequate liquidity.
Initially, FLOKI will be traded against USD, with the launch occurring in several phases once a sufficient supply is secured.
However, access to FLOKI may be limited in certain jurisdictions supported by Coinbase.
This listing announcement had a swift impact on FLOKI's market price, which soared from $0.000234 to a high of $0.000283, stabilizing later at $0.000256—a 10.3% increase within 24 hours.
FLOKI also serves as a utility token within its ecosystem, facilitating various decentralized finance (DeFi) services across the Ethereum and Base blockchains.
Coinbase had earlier indicated the inclusion of FLOKI in its roadmap for upcoming listings, aimed at enhancing transparency and mitigating potential front-running of the token.
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