Main cryptocurrency trade OKX deviated from its common itemizing sample to onboard well-liked Solana memecoins Dogwifhat and Cat in a Canines World.
OKX enabled Dogwifhat (WIF) and Cat in a Canines World (MEW) deposits round 7 a.m. UTC. By 9 a.m. UTC, WIF and MEW grew to become tradable in Tether (USDT) pairs. In response to the crypto trade, withdrawals are scheduled to open for each memecoins on April 16 by 10 a.m. UTC.
Regardless of launching late final 12 months, Dogwifhat is arguably the most important memecoin in Solana’s (SOL) ecosystem. The token was impressed by a canine named Achi, whose proprietor posted an image of the canine in a hat.
WIF has peaked at a market cap of over $4 billion and traded above $4 this 12 months, however the token plunged under $3 following a sweeping market correction. Following the itemizing information, WIF declined greater than 7% in 24 hours and exchanged arms round $2.72 per CoinGecko.
Conversely, the MEW meme token surged over 51% after OKX introduced buying and selling help. MEW nonetheless traded below a cent at a $444 million market cap. The cat-themed crypto juxtaposes canine-inspired memecoins like WIF and older tasks comparable to Dogecoin (DOGE) and Shiba Inu (SHIB).
OKX pivots from strict itemizing coverage
Itemizing WIF and MEW could signal a shift from the everyday itemizing coverage on crypto buying and selling venue OKX. Final month, a person implored OKX CEO Star Xu to think about itemizing sure tasks, touting the ideas as community-oriented and “cutting-edge.”
Xu responded by saying that the platform adopted a selected itemizing technique and wouldn’t cater to on-line requests.
The explanations for the obvious pivot are unclear and stay unknown at press time, however this has not stopped crypto X individuals from speculating. A number of customers mentioned the platform was compelled to adapt to bull run demand or threat shedding cash.
“Suppose the reason being that we’re in bull season, and in the event that they don’t adapt this, they’d lose their revenues”
– X person Oliver Wong
Listing WIF and MEW also comes as the platform prioritizes its U.S. compliance efforts. Regulators within the area, just like the U.S. SEC, have continuously mentioned that the majority cryptocurrencies fall below securities legal guidelines, though these companies have but to specify their stance on memecoins.