After the signature of a strategic cooperation input output, Cardano-based meme coin is increasing its support to the snake. The purpose of this partnership is to pursue the cardano ecosystem, which is still recovering disappointing ETFs.
Input output unveiled cooperation with snakes for the development of ecosystems
The company behind the development of Cardano, input output Hong Kong (IOHK) has announced a partnership with Meme Coin Snake. according to a Press releaseIOHK and Snake have made a strategic support to carry forward the ecosystem of Cardano, in a step that can be mutually beneficial for parties.
It is not clearly stated, input output can take advantage of the active community of snake to run increased activity on the cardono network. In contrast, IOHK is likely to support the efforts of the meme coin to adopt the utility and the real world.
IOHK’s decision to partner with snake is not far -fetched. Snake is the largest meme coin on Cardano and the second largest token by market capitalization after ADA. On-chain data indicates that Meme Coin Cardano is 16% of all trading volumes.
Input output cited the first principles of the project as the main cause of the partnership. In particular, the snake has no inner allocation of tokens for its development team or enterprise capital firms. Additionally, the token claims over 40,000 holders and is integrated with 60 decentralized applications (DApps) within the cardano ecosystem.
Cardano founder Charles Hokinson said, “Snake’s community approach align with the IO’s mission to promote such innovations on Cardano.” “This cooperation supports our shared goal of increasing the ecosystem.”
In the press statement, IOHK expressed its commitment to supporting projects that promote decentralization throughout the network. Comes as the latest system SEC delays Cardano ETF of Grassscale decision.
After cooperation, the snake value rallies from 6%
The partnership with the input output has triggers a rally for snakes, with the meme coin more than 6%. Currently, Snake is trading at $ 0.002744, while its daily transaction volume has declined.
The market capitalization of snake has increased by $ 200 million, putting it in shape between the top 15 meme coins. On the other hand, the price of ADA has been reduced by about 2%, it continued Falling prices streak,
The price of the ADA diverted the SEC ETF delays its vanning ecosystem activity levels. In Lead-up for spot ETF decision, Cardano daily transactions exceeded 50,000But they fell Below 35,000 in early June.
Aliu pokima
Aliyu Pokima is a journalist of an experienced cryptocurrency and emerging technologies with a neck to cover the needle-moving stories in space. Aliyu distributes news stories, regulatory updates and practical analysis with depth and accuracy. When he is not working on the chart or on the following lead, Aliu enjoys playing bass guitar, lifting weight and running a marathon.
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