In a significant expansion of its cryptocurrency offerings, Binance, the world’s premier crypto exchange by volume, has introduced new trading pairs and automated trading bots for two rising meme coins, Floki (FLOKI) and Dogwifhat (WIF). The addition of these services is a response to the growing demand for meme coins among traders.
Starting from Mar 13, 2024, at 08:00 UTC, Binance users have been able to trade the new pair FLOKI/FDUSD and utilize Spot Algo trading bots for the same pair. This development follows a remarkable 787% monthly increase in FLOKI’s value, fueled by an aggressive advertising campaign, including a high-profile New York Times Square ad. Floki’s market capitalization has soared to nearly $3 billion.
Furthermore, Binance has rolled out two new AI-powered trading tools for WIF, which are closely ranked with FLOKI regarding market capitalization. After an impressive 685% monthly surge, WIF boasts a market cap exceeding $2 billion.
Binance Welcomes WIF Trading Bots
The automated trading options for WIF, which include the Rebalancing Bot, Spot Grid Bot, and Spot Dollar Cost Average (DCA) bots, will be operational on Mar 14, 2024, at 08:00 UTC. Unlike the bots for FLOKI, those designed for WIF will conduct transactions using Tether USD (USDT).
Moreover, FLOKI has recently experienced a 500% rally, outpacing many of its competitors in the canine-themed cryptocurrency space. It is now on the cusp of entering the top 50 cryptocurrencies by market cap, with a valuation close to $3 billion. However, it remains 18.8% below its all-time high of $0.0003365, reached in Nov 2021.
Despite being a relative underdog in the memecoin market, with a smaller market cap than giants like Shiba Inu (SHIB) and Dogecoin (DOGE), Floki has made significant strides in decentralized finance (DeFi). Its staking systems have achieved a remarkable $790 million in total value locked (TVL), surpassing Shiba Inu and Dogecoin.
However, with this achievement, Floki is positioning itself as a leader in integrating Real World Assets (RWA) with TokenFi, setting a new standard for the potential of meme coins in the DeFi sector.
Related Reading | Boundaries Set: Google Election Query Limits In Gemini Chatbot
Furthermore, the author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.
Comments (No)