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Cardano Ecosystem

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06/01/2023

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MemeCoin Summer: Snek Continues to Impress

With a trading volume of over 280 million ADA (equivalent to 628.78 billion SNEK), Snek has emerged as the most traded native token on the Cardano blockchain.

MemeCoin Summer: Snek Continues to Impress

With a trading volume of over 280 million ADA (equivalent to 628.78 billion SNEK), Snek has emerged as the most traded native token on the Cardano blockchain. Not only that, it holds the distinction of being the most traded memecoin, surpassing other tokens such as Bank and Hosky with volumes of 87.95 million ADA and 28.83 million ADA, respectively. Snek’s dominance in overall trading volume within Cardano’s DeFi ecosystem has been further bolstered by the MemeCoin summer, attracting numerous DeFi enthusiasts from different blockchain networks. These impressive statistics have captured the attention of the Cardano Foundation, which actively supports the Snek team in its efforts to raise awareness about the Cardano ecosystem.

Continued Community Building

Snek’s community has experienced exponential growth, boasting 17,000 Twitter followers within just one month of its launch. Additionally, the project has verified its Twitter page and garnered support from 5,939 members on Discord, along with over 1,000 members in its Telegram channel. Snek has successfully attracted new users to the Cardano blockchain by listing itself on prominent centralized listing platforms like CoinGecko and CoinMarketCap. The loyal following of Snek has eagerly added the token to their watchlists, effectively drawing attention to its presence. Moreover, Snek’s onboarding channel has been instrumental in helping newcomers navigate Cardano’s wallets and exchanges, with the community readily providing assistance to those in need. The vibrant and meme-centric community of Snek has positioned it as the leading and unrivaled community on Cardano, creating a unique and engaging environment that has propelled the project to the forefront of engagement on Twitter.

Centralized Exchange Listings

Mexc Snek Kickstarter Graphic

Snek continues to attract interest beyond the boundaries of the Cardano ecosystem, as it secures listings on centralized exchanges. The token recently launched on MEXC Global exchange, a top-tier exchange ranking in the top 25 globally, with an average daily trading volume of approximately 600 million USD. This listing provides Snek exposure to an active trading community, potentially propelling the token to new heights. Additionally, discussions with multiple exchanges are underway, indicating that Snek’s team is actively seeking further listings. Coinex, a popular exchange based in Hong Kong, independently listed Snek on the evening of May 30th, underscoring the token’s explosive growth trajectory. Snek possesses two key attributes that attract exchanges: substantial trading volume and a dedicated community. The future will unveil the exchanges where the Snek team plans to launch their token, as well as those exchanges that decide to list it without an application process.

Future Prospects For Snek

Snek’s exceptional performance as the most traded token on Cardano, coupled with its growing community and successful listings on centralized exchanges, sets the stage for a bright future. With a solid position in the ecosystem, Snek captures the attention of the Cardano community and the wider cryptocurrency space, paving the way for partnerships and growth.

Snek’s passionate community on Twitter and Discord contributes to its expansion and creates a vibrant environment. With successful listings on reputable exchanges, Snek gains liquidity and visibility to reach a wider trading audience. The influence of influential crypto YouTubers discussing Snek further amplifies its popularity and expands its reach.

Building connections with industry leaders and gaining recognition from the Cardano Foundation, Snek opens doors for development and partnerships. With a strong foundation of robust trading volume, a loyal community, and strategic exchange listings, Snek is poised for future growth within and beyond the Cardano ecosystem.

In conclusion, Snek’s promising future, driven by exceptional performance, a dedicated community, and strategic partnerships, holds the potential to make a lasting impact on Cardano and the wider cryptocurrency landscape, fueled by the recent support of influential crypto YouTubers from outside of the Cardano ecosystem.

You can find out more about Snek at the following link: https://www.snekcoinada.com/

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ORIGINAL SOURCE

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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