Benzinga - Crypto.com crypto exchange has listed FLOKI (CRYPTO: FLOKI) perpetuals in a USD pair, marking a first for the meme-based cryptocurrency.
What Happened: This development comes one month after Bybit enabled Floki USDT perpetuals, highlighting the project's growing adoption.
The Floki token gained attention in the crypto world, following in the footsteps of cryptocurrencies such as Dogecoin and Shiba Inu. With the addition of Floki perpetuals 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 with no set expiration date. This offers an opportunity for traders to capitalize on market fluctuations and potential price growth. The listing of Floki perpetuals in a USD pair enables users to trade against the U.S. dollar, increasing accessibility for a wider audience of traders and investors.
See Also: Bitcoin Crosses $30K, Ethereum And Dogecoin Flash Green: Analyst Says 11 Mysterious, Identical Transactions Caused 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. The Crypto.com USD perpetual pair further legitimizes Floki and shows that the biggest exchanges are increasingly regarding it as a mature cryptocurrency.
"Furthermore, it makes the Floki token a lot more liquid thereby making it easily accessible to more people, which helps a great deal with adoption."
Why It Matters: The listing of Floki perpetuals on Crypto.com signifies the ongoing growth of the cryptocurrency and reflects the increasing 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 the time of publication Floki is trading at $0.00003442, down 0.89% Tuesday afternoon.
Read Next: Unstoppable Bitcoin Reigns Supreme With Incredible Inflows, Dominating Altcoins Like Uniswap, Polkadot, Polygon
Image credits: RODWORKS and Satheesh Sankaran on Shutterstock + Middjourney
This content was partially edited with the help of AI tools and was reviewed and published by Benzinga editors.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.