Kraken Lists New Tokens: LIT, MEME, MOG, LOCKIN, MICHI for Trading
Kraken has announced the availability of five new cryptocurrencies for trading: LIT, MEME, MOG, LOCKIN, and MICHI. LIT, MEME, and MOG began trading on August 29, 2024, while LOCKIN and MICHI commenced on January 21, 2025. LIT is a decentralized identity aggregator token; MEME is a meme coin with staking features; MOG is an Internet culture coin available on ERC-20 and Bitcoin networks. LOCKIN and MICHI are Solana-based memecoins with community-driven features. LOCKIN is inspired by crypto slang and provides a profile picture generator. MICHI is associated with a memeable cat image with meme creation tools. All tokens can be traded against USD and EUR, with specific order and deposit requirements, initially available on Kraken and Kraken Pro. Trading through Kraken App and Instant Buy will be enabled with sufficient liquidity. LOCKIN and MICHI are not available in DE, potentially attracting memecoin enthusiasts and increasing trading activity on Kraken.
Bullish
The announcement of new token listings on Kraken is generally perceived as bullish for the cryptocurrency market. The introduction of tokens like LIT, MEME, MOG, LOCKIN, and MICHI can stimulate trading activity due to their unique features and community-driven aspects, particularly memecoins that might attract enthusiasm from retail investors. The support for multiple trading pairs increases market liquidity, while the additional engagement tools offered by LOCKIN and MICHI could lead to increased user retention on the platform. Consequently, this diversification and potential rise in trading volume are likely to have a positive impact on the market.