Essential Insights
- The market capitalization of GIGA meme coin has hit $600 million, demonstrating an 8.5% rise over the past day.
- Kraken has also unveiled a new decentralized finance blockchain, named Ink, aimed at enhancing decentralized trading and lending.
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Kraken announced today that the GIGA meme coin will be available for full trading on October 29.
📅 A preview of next week’s listings:
Oct 28th – 14:00 UTC
Network expansions$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, trading at $0.062 with a market cap of $600 million, has experienced an 8.5% increase in the last 24 hours, and its introduction on Kraken is expected to attract even more attention.
The meme coin sector has surged over the past eight months, primarily due to the stability of Bitcoin. With Bitcoin trading within a narrower range and exhibiting less volatility, other tokens, especially meme coins, have thrived.
Since the launch of Pump.fun‘s token terminal in January, the meme coin market has skyrocketed, with numerous coins experiencing gains in the thousands of percent, elevating the sector’s overall market cap to $75 billion, according to data from CoinGecko.
GIGA enters a competitive arena alongside successful meme coins like GOAT, an AI-driven token that recently achieved a market cap of $760 million.
Kraken has also been broadening its initiatives beyond meme coins. Earlier today, it announced the imminent launch of its DeFi blockchain, Ink, which is scheduled to debut in early 2025.
Ink is designed to prioritize decentralized trading and lending, aiming for a simplified, user-centric experience. Remarkably, Kraken has chosen not to issue a native token for Ink, setting itself apart from other platforms that have opted for that route.
This platform will come equipped with over a dozen DeFi applications and intends to grow into real-world assets and sophisticated lending products in the future.
