Benzinga - Crypto.com Crypto Exchange Listed FLOKI (CRYPTO: FLOKI) perpetuals in a USD pair, marking a first for the meme-based cryptocurrency.
What happened: This development comes a month after Bybit activated the Floki USDT perpetuals, highlighting the growing adoption of the project.
The Floki token has caught the eye in the crypto world, following in the footsteps of cryptocurrencies such as Dogecoin and Shiba Inu. With the addition of perpetual Floki to the Crypto.com platform, users can now trade the cryptocurrency with increased liquidity and flexibility in a USD pair.
Perpetuals are a popular type of derivative in the crypto trading market, allowing traders to buy or sell assets without a set expiry date. This provides traders with the opportunity to take advantage of market fluctuations and potential price growth. The listing of perpetual Floki in a USD pair allows users to trade against the US dollar, increasing accessibility for a wider audience of traders and investors.
See also: Bitcoin Crosses $30,000, Ethereum and Dogecoin Flash Green: Analyst Says 11 Mysterious, Identical Transactions Drive Apex Crypto to Rally
Floki Core Team member "B" told Benzinga, "This is Floki's first USD perpetual pair and a major milestone for the project. Crypto.com's USD perpetual pair further legitimizes Floki and shows that the biggest exchanges increasingly view it as a mature cryptocurrency.
"Additionally, it makes the Floki token much more liquid, making it easily accessible to more people, which helps a lot with adoption."
Why is it important: The listing of Floki perpetuals on Crypto.com signifies the continued growth of the cryptocurrency and reflects the growing demand for the token. The expansion of trading options for Floki suggests the project's potential to establish itself among high-profile, meme-based cryptocurrencies.
FLOKI Price Action: At press time, Floki is trading at $0.00003442, down 0.89% on Tuesday afternoon.
Read next: Unstoppable Bitcoin reigns supreme with incredible entries, dominating altcoins like Uniswap, Polkadot, Polygon
Image credits: RODWORKS and Satheesh Sankaran on Shutterstock + Middjourney
This content has been partially edited using AI tools and has been reviewed and published by Benzinga editors.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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