Coinbase to list FLOKI on the Ethereum network

Coinbase announced that it will add support for dog-themed meme coin project FLOKI.

FLOKI (FLOKI) is currently the 6th largest meme coin in the world with a market cap of $2.3 billion and is traded on centralized exchanges such as Binance and Bybit. On November 20, Coinbase, the largest US-based CEX platform, announced that it would list FLOKI for trading.

Coinbase added FLOKI to its listing roadmap last week, and the price of the meme coin increased by 14% upon the market reaction to the news. The latest announcement is that trading support for the token will open on or after 9 a.m. Pacific Time on November 21, 2024.

According to the Coinbase team, support for Floki will be provided through the Ethereum (ETH) network, an ERC-20 token. However, the exchange will open for FLOKI/USD trading once sufficient liquidity is available. Users are advised not to send their Floki through other networks as they will lose these funds.

Specifically, Coinbase will add support for the FLOKI/USD trading pair on Coinbase and Coinbase Exchange. However, this will be done gradually and may still be limited in some regions where the platform operates.

FLOKI ranks as one of the best dog-themed meme cryptocurrencies on the market. Over the past few years, the team has sought to strengthen this as a crypto project through decentralized finance, gaming, and tokenization efforts.

These include DeFi locker protocol FlokiFi, tokenization platform TokenFi, and win-win game Valhalla.

According to on-chain data, the total value of FlokiFi Locker has reached an all-time high of over $189 million. The protocol’s fee mechanism allows users who lock assets on Ethereum or Binance Smart Chain to pay fees on FLOKI through automatic token burning.

Meanwhile, FLOKI’s Valhalla is expected to launch on the mainnet on November 28, 2024.