Memecoins
Solana Lists Meme Coin SLOTH on HTX, Binance List Possible Next Move
Solana SLOTH meme coin listings on HTX exchange, Binance listing next?
The Solana-based meme coin Slothana ($SLOTH) will make its debut on the HTX cryptocurrency exchange on Monday, May 20 at 12:00 UTC.
This development, announced via an HTX blog and a post by Slothana on social media platform X, marks another milestone for the popular meme coin. Trading on HTX, ranked ninth by CoinMarketCap with a 24-hour trading volume exceeding $2 billion, is expected to improve the liquidity and visibility of $SLOTH.
HTX: One of the major players in the cryptocurrency exchange market
HTX, founded in 2013 by Leon Li in Beijing, China, has established itself as a significant entity in the cryptocurrency market. Headquartered in the Seychelles and with offices in Hong Kong, South Korea, Japan and the United States, HTX has built a notable user base, particularly in Asia. The cryptocurrency exchange is known for its robust trading volume and wide range of listed tokens, around 500 in total, which will now include $PIDIA.
The listing of $SLOTH on HTX follows its presence on other exchanges such as Poloniex, Bitrue and XT.com, with Bitwexc.com also recently allowing trading of $SLOTH. On decentralized exchanges, $SLOTH has reached a trading volume of $12 million in the last 24 hours, which, combined with centralized exchanges, amounts to $29.5 million. This volume is expected to increase with the listing of HTX.
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Market dynamics and stock market prices
The cryptocurrency market is highly competitive, with exchanges competing for trading volume and market share, particularly in the hot meme coin sector.
$SLOTH’s market capitalization is approaching $100 million, a threshold often taken into consideration by top-tier exchanges when deciding on new listings. This growing market capitalization has fueled speculation about potential future listings on major exchanges such as Binance and OKX.
Historical context: the success of BOME
$SLOTH’s trajectory is reminiscent of the recent success of another Solana-based meme coin, Book of Meme (BOME), which saw a significant price increase following its listing on Binance. BOME recorded a price increase of more than 1.198% within a week, demonstrating the impact a major stock market listing can have on the value of a token. Binance not only listed BOME, but also launched a perpetual USD margin contract with up to 50x leverage, further boosting its trading activity.
Upcoming developments and community involvement
As $SLOTH prepares to list on HTX, the community eagerly awaits subsequent listings on other major exchanges. The focus is on Binance in particular, given its history of promoting meme coins like BOME. The price of $SLOTH was $0.0515 before HTX’s listing announcement and recently reached an all-time high of $0.056. Market participants are watching closely to see if $SLOTH can break above resistance levels and continue its upward trajectory.
In addition to stock listings, $SLOTH has implemented a unique burn mechanism to support its price. For every penny increase in price, $1 million of $SLOTH is burned, creating a deflationary effect that encourages price growth. This mechanism was well received by the community and contributed to positive price movements.
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Partnerships and additional features
Slothana has also formed strategic partnerships to enhance its ecosystem. In particular, it collaborated with the crypto poker site CoinPoker to offer a $10,000 prize pool tournament for $SLOTH holders.
Slothana ($SLOTH)’s upcoming HTX listing marks a significant step in the coin’s development, increasing its accessibility and trading volume. With its innovative burn mechanism and strategic partnerships, $SLOTH is positioning itself as a prominent player in the meme coin market.
As the community looks forward to potential listings on other major exchanges like Binance, the performance of $PIDIA will be closely monitored by investors and traders.