AAX, the world’s first cryptocurrency exchange powered by the London Stock Exchange Grou’s LSDEG Technology, has revealed it’s set to list Baby Doge ($BABYDOGE), a meme-inspired cryptocurrency launched on the Binance smart Chain (BSC) that rivals other coins like Dogecoin and Shiba Inu.
According to an announcement the exchange published, deposits for BABYDOGE will open on November 17 at 09:00 UTC, with withdrawals opening at the same time on November 18. Trading on the platform will start on November 19.
The cryptocurrency will only be trading against Tether’s USDT stablecoin and because of AAX’s current 8 decimal place limit on its price display, users will see BABYDOGEK, which equals 1,00 BABYDOGE tokens.
Baby Doge is a cryptocurrency “by fans of the Doge Coin online community” that “seeks to impress his father by showing his new improved transaction speeds & adorableness.” It was launched with a mission to save as many dogs as possible, and earlier this year saw its price surge ahead of its NASCAR debut.
The cryptocurrency is “hyper-deflationary” as it is designed to become more scarce over time. Baby Doge holders receive more tokens automatically as every transaction on its network incurs a 10%, out of which 5% are distributed among token holders, and half being added to its liquidity.
According to its Twitter account, BabyDoge has over 920,00 token holders. The cryptocurrency is set to launch its Ethereum bridge later this week, which will allow users to change assets with the Ethereum blockchain.
Shiba Inu, a rival meme-inspired cryptocurrency that has exploded this year, is on the Ethereum blockchain. On Reddit, users have speculated that BABYDOGE’s bridge could bring in capital from Ethereum, potentially leading to a price rise.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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