In the bull rally in 2021 Bitcoin (BTC) outside meme tokens also experienced a tremendous increase.
Among these meme tokens, two more stood out: Dogecoin (DOGE) and Shiba Inu (SHIB)
However, another meme token may be coming to rival these meme tokens.
Chinese crypto journalist Wu Blockchain This post is on Upbit, South Korea’s largest cryptocurrency exchange. Metal Pay (MTL) The meme announced that the token has seen a huge increase in transaction volume.
MTL accounted for more than 67% of Upbit’s trading volume, while MTL/KRW transaction volume was stated to be $260 million.
Wu Blockchain is also the world’s largest cryptocurrency exchange. Binance’s He added that the annual negative funding rate for the MTL contract has also reached a staggering 1430%.
MTL becomes the new Korean MEMECOIN. Upbit MTL/KRW, South Korea’s largest exchange, had a trading volume of $260m. Binance MTL contract annualized negative funding rate is as high as 1430%. MTL is the token of Metal Pay, which allows users to buy, sell, transfer, and pay for… https://t.co/SnQqO3nFXC
— Wu Blockchain (@WuBlockchain) February 20, 2023
This spike in MTL’s trading volume at Ubit, MTL‘ has become the new Korean memecoin of the crypto money industry.
While South Korean investors’ interest in MTL drove the price, MTL’s price plunged to $2.29.
However, unable to maintain this level MTL It continues to be traded at $1.54 at the time of writing, with a decline of about 30%.
*Not investment advice.
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