Kraken Lists Notcoin and Dogs Memecoins with Price Increases
Kraken has listed two TON-based memecoins: Notcoin (#NOT) and Dogs (#DOGS). Deposits and withdrawals for both coins were enabled on February 13, 2025. Trading will commence once liquidity conditions are met.
Market Impact
- Following the announcement, NOT rallied over 26%, reaching approximately $0.00364.
- NOT's fully diluted valuation is around $373 million, with a 240% surge in its 24-hour trading volume to about $202 million.
- DOGS gained 6.5%, trading at about $0.000187, with a fully diluted valuation of $102 million and a 69% increase in trading volume to about $40 million.
- Both tokens benefit from large Telegram communities; NOT has over 16.3 million members while DOGS has over 13.5 million.
Broader Context
- The listing may enhance Kraken's trading volume and revenue as memecoins gain traction in digital asset adoption.
- Other exchanges are also listing memecoins to increase trading options and liquidity.
- The TON network will likely see increased demand, especially as Telegram prepares to designate it as its exclusive blockchain provider next week.