2 December 2024

OKX Expands Offerings with New Memecoins Including Dogecoin-Related Altcoin

Seychelles-based cryptocurrency exchange OKX has announced support for three new memecoins, including a newly launched altcoin associated with Dogecoin (DOGE).

OKX Expands Offerings with New Memecoins Including Dogecoin-Related Altcoin

Seychelles-based cryptocurrency exchange OKX has officially announced its support for three new memecoins, prominently featuring a newly launched altcoin associated with the popular Dogecoin (DOGE).

In a recent announcement, OKX revealed that it is introducing perpetual futures trading for three meme tokens: BasedBrett (BRETT), Simon’s Cat (CAT), and Neiro on ETH (NEIROETH).

BasedBrett (BRETT) has emerged as the largest memecoin on Base, the blockchain developed by Coinbase, the leading cryptocurrency exchange in the United States. Currently, BRETT boasts a market capitalization of $683 million, although it has experienced a decline of over 40% since the beginning of August.

Simon's Cat (CAT) was initially launched on the BNB Smart Chain (BSC) and was airdropped to holders of Floki (FLOKI), a rival to Dogecoin, last month. CAT has a market cap of $187 million and has surged by 152% since hitting an all-time low of $0.00001099 shortly after its launch.

In addition, the Neiro project claims to be “the official sister of DOGE,” now making its debut on the Ethereum (ETH) network with the aim to “make history.” NEIROETH currently holds a market cap of $128 million and has skyrocketed by over 449% since reaching an all-time low of $0.0232 on September 3rd.

All three memecoins will be available for trading on USDT margin perpetual futures.

Last year, OKX CEO Star Xu mentioned that he was receiving numerous requests to list more BRC-20 altcoins from the Bitcoin (BTC) ecosystem. However, he emphasized that the exchange is not looking to adopt an overly aggressive approach to its listing strategy.

“A lot of friends are urging me to list more BRC-20 tokens. I appreciate these suggestions. I want to clarify that as an exchange, if we simply list all tokens, it might generate quick profits, but it could also harm the market,” Xu stated.

“OKX does not aspire to be the most aggressive listing exchange in the industry. While we may not be the largest player, we adhere to our long-term philosophies, which include building infrastructure, maintaining ethical practices, ensuring transparency, and being driven by technology.”

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Source: The Daily Hodl