31 May 2023 16:15, UTC
Reading time: ~2 m
Snek (SNEK) makes waves in the Cardano ecosystem, rising to become the second-largest asset as its listing on CoinEX comes amid a 22% surge.
In a recent exciting development for the Cardano community, an AI service has captured the listing of the recently launched Cardano-based meme coin, Snek (SNEK), on a leading trading platform.
CryptoExchangeListingBot, a popular Twitter account known for its real-time updates on crypto listings, revealed that Snek had been listed on the CoinEx exchange, one of the leading crypto exchanges in Hong Kong.
We’ve detected that Snek $SNEK has been listed on CoinEx!
View on CoinEx: https://t.co/24rgOoKbtN
— Crypto Exchange Listing Bot (@crypto_alerting) May 31, 2023
The disclosure comes shortly after CoinEX officially confirmed plans to list SNEK on its platform. The exchange had revealed that it would open up deposits and withdrawals for the asset today at 2:30 (UTC) and enable SNEK/USDT trading at 3:30 (UTC).
Snek’s listing on a well-known exchange represents a significant feat for the coin. It illustrates its growing popularity within the crypto community, particularly as the meme coin was launched only about three weeks ago.
Cardano Ecosystem Ambassador Reacts
Yevhen Dedotfi, a Cardano Ecosystem Ambassador, took to Twitter to express his surprise and intrigue about Snek’s monumental success.
He remarked: “SNEK rises as the 2nd largest asset in the Cardano ecosystem out of nowhere. How did this meme coin achieve such rapid success?”
🐍💸 $SNEK rises as the 2nd largest asset in #Cardano ecosystem out of nowhere!
How did this meme coin achieve such a rapid success?
Dive into my thread for more info🧵
It will change how you see $ADA projects.🚀🔥 pic.twitter.com/jyLSJFGCaP
— Yevhen |👾| De.Fi (@yevhen_dedotfi) May 30, 2023
In the series of tweets, Dedotfi highlighted some of Snek’s outstanding achievements and its impact on the Cardano ecosystem. He noted that with a market capitalization of 150 million ADA, approximately $56 million, Snek surpassed several well-established tokens within the Cardano ecosystem.
According to the Cardano ambassador, Snek remarkably overtook the SingularityNET token, AGIX, becoming the second-largest asset in the Cardano ecosystem, behind only the native ADA token.
Dedotfi attributed Snek’s success to the power of market-wide narratives. While AGIX gained popularity due to its association with artificial intelligence, Dedotfi believes Snek thrived on its memetic appeal, leveraging the recent widespread fascination with meme coins in the crypto space.
Interestingly, the largest crypto exchange, Binance, recently issued a comprehensive manual on purchasing SNEK, as reported by The Crypto Basic two weeks back. Data from CoinMarketCap shows that SNEK has gained over 22% in the last 24 hours. The coin currently trades at $0.001428.
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