Kraken plans to list GIGA as meme coin market cap reaches $75 billion
Key Takeaways
- GIGA meme coin's market cap reached $600 million, reflecting an 8.5% increase in the last 24 hours.
- Kraken also announced a new DeFi blockchain, Ink, focusing on decentralized trading and lending.
Kraken announced today that the GIGA meme coin will be available for full trading on October 29.
📅 A sneak peek at next week’s listings:
Oct 28th – 14:00 UTC
Network expansions$PUFFER$PYUSDOct 29th – 14:00 UTC
Full trading$GIGA👀 Roadmap updates every Thursday ⤵️https://t.co/hv1TlhIJJf
*Geographic restrictions may apply pic.twitter.com/uDeLAU08lv
— Kraken Pro (@krakenpro) October 24, 2024
GIGA, priced at $0.062 with a market cap of $600 million, has seen an 8.5% increase over the last 24 hours, and its listing on Kraken is expected to draw even more attention.
Meme coins have surged over the past eight months, largely due to Bitcoin’s relative stability. With Bitcoin trading in a tighter range and showing less volatility, other tokens, particularly meme coins, have had room to flourish.
Since the launch of Pump.fun‘s token terminal in January, the meme coin market has exploded, with several coins posting gains in the thousands of percent, pushing the sector’s overall market cap to $75 billion, according to data from CoinGecko.
GIGA joins a crowded field of successful meme coins like GOAT, the AI-driven token that recently reached a market cap of $760 million.
Kraken has been expanding its efforts beyond meme coins. Earlier today, it announced the upcoming launch of its DeFi blockchain, Ink, which is set to go live in early 2025.
Ink will focus on decentralized trading and lending, aiming to provide a streamlined, user-friendly experience. Notably, Kraken has opted not to issue a native token for Ink, distinguishing itself from other platforms that have taken that route.
The platform will launch with over a dozen DeFi apps and plans to expand to real-world assets and advanced lending products in the future.
