Binance Supports MONKY Airdrop for FLOKI and APE Holders as Meme Coin Popularity Rises

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As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed the rise and fall of numerous trends and assets. The recent announcement by Binance to support the Wise Monkey (MONKY) airdrop for FLOKI and ApeCoin holders is an intriguing development that warrants closer examination.

Cryptocurrency exchange leader Binance has declared its participation in the Wise Monkey (MONKY) airdrop, focusing on holders of FLOKI and ApeCoin. This action allows eligible users to receive MONKY tokens directly within their Binance wallets, further emphasizing the platform’s dedication to projects that add value.

According to the public statement released on December 2nd, the allocation scheme will give FLOKI token holders 0.35 MONKY for each of their tokens, and APE token holders will be rewarded with a total of 804,828 MONKY per token they possess.

To use a wallet with our platform, you must possess at least one unit of either FLOKI or APE in your Spot, Funding, or Margin account. As for those who own APE, the eligibility snapshot was taken on November 29. On the contrary, FLOKI holders still have some time before the snapshot event, which is set for December 15. It’s important to note that any ongoing deposits or withdrawals during these dates will not be included in the eligibility check, as it demands active ownership at the time of the exchange.

As a researcher, I anticipate that this move could draw more focus on both FLOKI and APE, possibly leading to a surge in trading activities. FLOKI, popular among retail investors for its unique appeal, continues to be a significant player in the memecoin market. On the other hand, APE’s robust presence within the NFT ecosystem underscores its long-term potential. Binance’s involvement lends credibility to this development. However, whether or not MONKY will be listed on their platform hinges upon it successfully passing Binance’s rigorous review process.

FLOKI and APE Performance

2024 witnessed extraordinary growth in the meme coin market, with its total market value soaring to an impressive $117 billion – a sixfold increase over the course of just one year. As per a recent study by DWF Labs, a significant player in the crypto market, despite the escalating interest in cryptocurrencies tied to cutting-edge technologies such as artificial intelligence (AI), meme coins have still managed to record the most substantial growth in recent times.

As a researcher, I’ve been observing the dynamic performance of the foremost meme coin, Dogecoin (DOGE). In the month of November, it has experienced an impressive surge, rising over 150%. This growth underscores the increasing attention and traction that the sector is garnering. Here are some key metrics:

In simpler terms, FLOKI is one of the six largest meme coins by market value, currently boasting a market cap of approximately $2.2 billion and trading volume of about $701 million within the last 24 hours. At this moment, its price is around $0.0002239, representing a 5% decrease over the past day but a significant 70% increase during the past month. This growth is attributed to its recent listing on Coinbase. Nevertheless, it still falls short of its all-time high of $0.0003462 reached in June by 35%.

Currently, ApeCoin (APE) is being traded at around $1.50, representing a 2% decrease over the past 24 hours. With a market capitalization of approximately $1.1 billion and a daily trading volume of $367 million, ApeCoin ranks as the 96th largest cryptocurrency. Interestingly, in October, the NFT-centric altcoin saw its value nearly double within a short period after the debut of its mainnet blockchain, Apechain.

word on the street is that the MONKY airdrop has been generating excitement within both FLOKI and APE communities, offering a chance to boost the profile of these digital tokens. Given the soaring trend of memecoins, initiatives such as this one help secure their relevance in the expansive crypto world.

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2024-12-02 18:39