Coinbase to List FLOKI on the Ethereum Network

Coinbase, one of the largest U.S.-based cryptocurrency exchanges, has announced plans to list FLOKI, a popular dog-themed meme coin, on its platform. This comes after the coin’s listing was added to Coinbase’s roadmap last week, causing a 14% rise in the token’s price. FLOKI, which is currently the 6th largest meme coin by market cap at $2.3 billion, will be listed as an ERC-20 token on the Ethereum network, expanding its reach in the broader crypto ecosystem.

Trading Details and Timeline

Coinbase confirmed that trading for FLOKI/USD will commence on November 21, 2024, at or after 9 am Pacific Time, pending sufficient liquidity. However, the listing will be rolled out in phases, and users are advised that trading support might be restricted in certain jurisdictions. Additionally, Coinbase cautioned users not to send FLOKI tokens from other networks, as this could result in the loss of their funds.

FLOKI’s DeFi and Gaming Efforts

FLOKI has been working to enhance its standing as a significant crypto project beyond being a meme coin. The FLOKI team has developed various decentralized finance (DeFi) and gaming initiatives, including:

• FlokiFi: A DeFi locker protocol that allows users to lock assets on Ethereum or Binance Smart Chain (BSC). The protocol’s fee structure requires payments in FLOKI, which also includes an automatic token burn mechanism.
• TokenFi: A tokenization platform aimed at offering more use cases for the FLOKI token.
• Valhalla: A play-to-earn game with a planned mainnet launch scheduled for November 28, 2024.

FLOKI’s Market Position

Over the past years, FLOKI has been positioning itself as a more functional cryptocurrency by expanding into sectors like DeFi and gaming. Its success is evident in the growth of its FlokiFi Locker, which recently saw its total value locked (TVL) reach a new all-time high of $189 million. These developments are aimed at increasing the token’s utility and value beyond just meme-based speculation.

With the new listing on Coinbase, FLOKI’s exposure is set to increase further, potentially attracting more institutional and retail investors, and solidifying its place in the meme coin market.