Snek Price increases above 16%

• Kraken’s Snek list is a great benefit to the broader Cardano ecosystem.

• Due to geographical restrictions in place, Kraken announced that the withdrawal of deposits and SNEK is already in effect.

• Snek Price has been consistently closed above the daily wedge pattern, showing even more bullish momentum.

Veteran US-based cryptocurrency exchange with over 10 million global users Kraken Exchange announced on Friday, April 25th that it will list Cardano (ADA)-based Memecoin Snek (SNEK) next week. According to the announcement, Snek’s deposits and withdrawals at Kraken Exchange are now in effect ahead of the official listing on April 28th.

Kraken announced that geographical restrictions will be applied accordingly to Snek Trading. Kraken’s Snek list is a major milestone victory for the Cardano ecosystem and faces severe criticism of low chain activity.

“It’s in itself a great achievement, but opening the door to the Tier 1 CEX list for Cardano Native Tokens is incredible. This is not only a big win for Snek, but a big win for everyone at $ADA.

Impact on Snek Price

Following the announcement, Snek Price has gathered to trade above 17% for around $0.00357 at the time of this writing. As a result, the mini-memo coin, which has earned more than 42% in the past seven days, has a fully diluted valuation of about $273 million and an average 24-hour trading volume of about $4.3 million.

The revival of SNEK FOMO in the fundamental improvements plays a key role in its bullish outlook. In the daily time frame, Snek Price has already broken from a calm wedge pattern, informing bullish feelings at the time of this writing.

Furthermore, amid a prominent gathering of the relative strength index (RSI), the daily MACD line had already passed the zero line.