Solana meme coin SLOTH lists on HTX exchange, Binance listing next?
The Solana-based meme coin Slothana ($SLOTH) is set to make its debut on the cryptocurrency exchange HTX on Monday, May 20th at 12pm UTC.
This development, announced via an HTX blog and a Slothana post on social media platform X, marks another milestone for the popular meme coin. Trading on HTX, which is ranked ninth by CoinMarketCap with a 24-hour trading volume exceeding $2 billion, is expected to enhance the liquidity and visibility of $SLOTH.
HTX: A Major Player in Crypto 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, with offices in Hong Kong, South Korea, Japan and the US, HTX has built a substantial user base, particularly in Asia. The cryptocurrency exchange is known for its robust trading volume and a wide range of listed tokens, around 500 in total, which will now include $SLOTH.
The listing of $SLOTH on HTX follows its presence on other exchanges such as Poloniex, Bitrue, and XT.com, with Bitwexc.com also enabling $SLOTH trading recently. On decentralised exchanges, $SLOTH has achieved a trading volume of $12 million in the past 24 hours, which, combined with centralised exchanges, totals $29.5 million. This volume is expected to increase with the HTX listing.
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Market Dynamics and Exchange Listings
The cryptocurrency market is highly competitive, with exchanges competing for trading volume and market share, particularly in the hot meme coin sector.
The market capitalisation of $SLOTH is nearing the $100 million mark, a threshold often considered by top-tier exchanges when deciding on new listings. This growing market cap has fueled speculation about potential future listings on major exchanges like Binance and OKX.
Historical Context: BOME’s Success
The trajectory of $SLOTH is reminiscent of the recent success of another Solana-based meme coin, Book of Meme (BOME), which experienced a significant price surge following its listing on Binance. BOME saw a price increase of over 1,198% within a week, demonstrating the impact that a major exchange listing can have on a token’s value. Binance not only listed BOME but also launched a USD margin perpetual contract with up to 50x leverage, further boosting its trading activity.
Upcoming Developments and Community Engagement
As $SLOTH prepares for its HTX listing, the community is eagerly anticipating subsequent listings on other major exchanges. The focus is particularly on Binance, given its history of boosting meme coins like BOME. The $SLOTH price was $0.0515 before the HTX listing announcement and recently reached an all-time high of $0.056. Market participants are watching closely to see if $SLOTH can break through resistance levels and continue its upward trajectory.
In addition to exchange listings, $SLOTH has implemented a unique burn mechanism to support its price. For every cent that the price increases, $1 million worth of $SLOTH is burnt, creating a deflationary effect that encourages price growth. This mechanism has been well-received by the community and has contributed to positive price movements.
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Partnerships and Additional Features
Slothana has also formed strategic partnerships to enhance its ecosystem. Notably, it has teamed up with the crypto poker site CoinPoker to offer a $10,000 prize pool tournament for $SLOTH holders.
The upcoming HTX listing of Slothana ($SLOTH) 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 $SLOTH will be closely monitored by investors and traders.
