Binance Announces MONKY Airdrop for FLOKI and APE Holders
Binance has announced support for the Wise Monkey (MONKY) airdrop aimed at holders of FLOKI and ApeCoin. Eligible users will receive MONKY tokens directly in their Binance wallets, reflecting the platform's focus on value-driven initiatives.
According to the announcement on December 2, distribution ratios are set at 0.35 MONKY per FLOKI token and 804,828 MONKY per APE token. Users must hold at least 1 FLOKI or 1 APE in their Spot, Funding, or Margin accounts to qualify. A snapshot for APE was taken on November 29, while FLOKI holders have until December 15 for the exchange's snapshot. Ongoing deposits or withdrawals during these periods will not count, emphasizing the need for active holdings.
This initiative is anticipated to increase interest in both FLOKI and APE, potentially enhancing trading activity. FLOKI remains a popular memecoin among retail investors, while APE’s significance in the NFT ecosystem indicates its long-term potential. Binance's involvement adds credibility, but MONKY's listing on the platform depends on passing the exchange's review process.
FLOKI and APE Performance
The meme coin market has experienced significant growth in 2024, with total market capitalization reaching $117 billion, a sixfold increase within a year. A report by DWF Labs indicates that despite rising demand for cryptocurrencies linked to emerging technologies like artificial intelligence (AI), the meme coin sector recorded the highest gains recently.
Dogecoin has surged over 150% in November, highlighting the sector's increasing traction. FLOKI, the sixth-largest meme coin by market cap, has a market cap of $2.2 billion and a 24-hour trading volume of $701 million. Its price was $0.0002239, down 5% in 24 hours but up 70% over the past month following its Coinbase listing, although it remains 35% below its all-time high of $0.0003462 from June.
ApeCoin (APE), based on Ethereum, trades at $1.50 with a 2% decrease in 24 hours. It has a market cap of $1.1 billion and a trading volume of $367 million, ranking 96th among the largest cryptocurrencies. In October, APE doubled its value shortly after launching its mainnet blockchain, Apechain.
The MONKY airdrop has generated excitement within the FLOKI and APE communities, offering a chance to enhance visibility for these tokens. As the memecoin market continues to rise, such initiatives contribute to solidifying their position in the broader crypto landscape.