The Web3 Transak payments infrastructure provider is adding PEPE and BONK to its platform as part of its efforts to open paths for new users to interact with various DeFi ecosystems.
The popularity of LMEs has risen recently, especially within the Solana and Ethereum ecosystems, driven by their strong ties to internet culture.
According to CoinGecko’s Second Quarter 2024 Crypto Report for the Second Quarter of 2024, meme coins are set to be a key driver of crypto adoption in the second half of the year. What’s more, Solana meme has crushed its Ethereum counterparts, making a staggering 800% gain so far this year.
‘The listing of PEPE and BONK coins is more than just adding common tokens. It’s about opening the door wide for those who are curious about cryptocurrencies, especially within vibrant communities like Solana and Ethereum. Transak is committed to making this exciting space accessible to everyone, regardless of their level of experience,” said Sami Start, CEO and co-founder of Transak.
The growing excitement around Solana’s ecosystem seems to have boosted the appeal of the PEPE and BONK memes, leading to their listing on Transak.
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PEPE jumped to the list of the 25 largest tokens by market capitalization earlier this year. The token quickly rose to a market capitalization of $1 billion just weeks after it debuted in April 2023.
Some traders believe that PEPE could eventually surpass the Shiba Inu (SHIB) token, which currently has a market capitalization of $8 billion as of Tuesday.
Although BONK started as a meme, it quickly gained momentum in Solana’s ecosystem. Many of Solana’s projects began accepting the NFT payment token, and some even implemented ‘burning’ mechanisms for NFT events in the weeks following their launch.
Transak’s payment and setup services make it easy for users to buy and sell users’ crypto assets, taking care of KYC requirements, risk monitoring and compliance for its customers such as Metamasak and COIN. Web3 startup raised $20 million in a Series A funding round last year to support its global expansion.
The Transak platform allows users to purchase meme coins with transactions worth up to $75,000, provided they complete the third level verification of ‘Know Your Customer’ verification. This feature is said to cater to serious investors and traders in the LME-currency market.
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