Cardano

Memecoin

Snek

In the realm of cryptocurrency, $SNEK, a popular memecoin residing within the <a href="https://cryptosnewss.com/cardano-reclaims-development-dominance-santiments-latest-findings/" rel="noopener noreferrer nofollow">Cardano</a> ($ADA) ecosystem, has recently experienced an impressive surge. Over the past week, its price has soared by more than 56%, and within the last 24 hours alone, it recorded a significant gain of over 16%, surpassing the broader cryptocurrency market’s performance.Market data reveals that SNEK’s trading volume in the last 24 hours exceeded $770,000, with a fully diluted market capitalization resting at a modest $16.8 million, making it a relatively minor player in the crypto landscape. Billing itself as the “chilliest meme coin on Cardano,” SNEK has set its sights on nurturing community engagement, stimulating decentralized finance activities within the Cardano network, and generously rewarding its loyal holders.The notable price upswing of this memecoin can likely be attributed to growing demand, despite the limited liquidity it has previously encountered. Worth noting is the proactive effort by its community to develop the SNEK ecosystem over time.SNEK’s community proudly reports that it holds the title of the most actively traded asset within the Cardano ecosystem, which, at the time of writing, boasts a total value locked of $196.6 million. A significant portion of these funds, exceeding $90 million, is locked within the decentralized exchange Minswap and the collateralized debt protocol Indigo, according to <a href="https://defillama.com/chain/Cardano" rel="noopener noreferrer nofollow">DeFiLlama</a>._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/cardanos-memecoin-snek-rockets-56-amidst-new-ventures/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on October 28, 2023.

Cardano’s Memecoin SNEK Rockets 56% Amidst New Ventures

Cryptos Newss

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