Coinbase has announced that it will be adding support for the dog-themed meme coin project FLOKI.
FLOKI (FLOKI) is currently sixth in the world.th The largest meme coin by market capitalization at $2.3 billion and trades on centralized exchanges such as Binance and Bybit. On November 20, Coinbase, the largest CEX platform in the US. <a target="_blank" href="https://x.com/CoinbaseAssets/status/1859280767202824378″ target=”_blank” rel=”nofollow”>announced will include FLOKI for marketing.
Coinbase added FLOKI to its listing roadmap last week, and the meme coin's price surged 14% amid market reaction to the news. The latest announcement is that trading support for the token will open starting at 9am Pacific Time on November 21, 2024.
According to the Coinbase team, support for Floki will be on the ethereum (eth) network, the ERC-20 token. However, the exchange will open trading for FLOKI/USD once there is sufficient liquidity. Users are advised not to send their Floki through other networks as they will lose these funds.
Notably, Coinbase will add support for the FLOKI/USD trading pair on Coinbase and Coinbase Exchange. However, this will be in phases and may still be restricted in some jurisdictions where the platform operates.
FLOKI ranks as one of the top dog-themed meme cryptocurrencies on the market. In recent years, the team has sought to strengthen it as a crypto project through decentralized finance, gaming, and tokenization efforts.
These include its DeFi locker protocol FlokiFi, tokenization platform TokenFi, and money-making game Valhalla.
According to on-chain data, FlokiFi Locker has seen its total value locked skyrocket to over $189 million, reaching a new all-time high. The protocol's fee mechanism allows users to lock assets on ethereum or Binance Smart Chain to pay fees in FLOKI, with automatic token burning.
Meanwhile, FLOKI's Valhalla is expected to launch on mainnet on November 28, 2024.
