The cryptocurrency market is entering the new year with new research. As the adoption of the cryptocurrency world increases, projects are adjusting their positions accordingly. The decentralized autonomous organization (DAO) that runs ENO has held a decisive vote. It has also achieved the expected result of this vote. However, this development has not had a significant impact on the price of the meme coin so far.
The decentralized autonomous organization (DAO) that governs the meme coin Floki (Floki DAO) has unanimously decided to use a portion of the 16.3 billion $FLOKI tokens in the community redemption wallet as liquidity for Floki’s upcoming exchange-traded product (ETP). The Floki ETP will launch in Q1 2025. This ETP will provide traditional finance investors in the European market with exposure to the meme coin, which is currently ranked 66th largest cryptocurrency by market cap on CoinMarketCap.
After accepting the community proposal, a Floki spokesperson said that listing the ETP would add legitimacy to the community-driven meme coin. In this regard, “The Floki ETP will be launched on the SIX Swiss Exchange, the largest exchange in Switzerland and the third in Europe, in an almost unprecedented move for the legitimacy of a meme coin.”
According to CoinGecko, meme coins were the second-best performing cryptocurrency narrative of 2024. The sector delivered an average return of 2,185% to investors over the course of the year. This comes in second only to artificial intelligence, which returned around 2,939%.
Another study from CoinGecko showed that meme coins had the highest mind share among crypto investors in 2024. In this regard, it explained that they accounted for about 31% of total investor interest. In October 2024, Google search interest for meme coins surpassed search interest for Bitcoin. Meme coins recorded a search interest of 77 out of 100 for the month, compared to 33 for Bitcoin.
