The announcement of Binance adding the FLOKI memecoin to its listing in Thailand has had a significant impact on its value. FLOKI, which has been gaining popularity in Thailand, made the announcement with great excitement.
Following the announcement, the FLOKI price experienced a surge of over 7%, reaching $0.000205. However, as of now, it has lost most of its gains and is currently trading at $0.0001869, showing a modest increase of 0.54% in the last 24 hours according to data from CMC.
Thailand is at the forefront of crypto acceptance, with approximately 12% of its estimated ten million residents using cryptocurrency in their daily transactions. The country’s ranking as the tenth on Chainalysis’ “2023 Global Cryptocurrency Adoption Index” highlights the widespread use of digital assets in Thailand.
According to the Global 2022 Digital Overview Report, Thailand is one of the countries with the highest ownership of cryptocurrencies among internet users worldwide. Binance Thailand operates as a regulated company under the Thai Ministry of Finance and is overseen by the Office of Securities and Exchange Commission due to the existing regulatory framework in the region.
With the listing on Binance Thailand, FLOKI has the potential to become one of the top cryptocurrencies in the market. Thai residents can access Floki Inu memecoin without the need for VPN or other encryption tools.
Despite listing FLOKI, Binance remains a strict exchange for underperforming assets. In recent weeks, Binance has made increased efforts to remove several other digital asset offerings from its platform.
Additionally, Floki Inu’s decentralized autonomous organization, Floki DAO, has proposed burning 15 billion tokens to permanently eliminate them from circulation. This news has made investors more optimistic about the future value of the meme coin.
In other crypto news today, there has been a surge in inflows for spot Bitcoin ETFs.