GOAT soars nearly 30% after OKX listing announcement

OKX announced that it will list the viral Solana-based meme coin, GOAT, for spot trading on its platform on Dec. 12 at 10:00 UTC. Shortly after the notice, the token saw its price rise by 28.8%.

OKX, one of the largest crypto exchanges by trading volume, has announced that it will be listing the popular meme coin Goatseus Maximus (GOAT) on Dec. 12. Deposits for the token will open at 6:00 UTC, while spot trading for GOAT/USDT pairs will begin at 10:00 UTC. Users will be able to withdraw GOAT starting from 14:00 UTC.

After the notice was published, the Goatseus Maximus token saw a boost in its price. According to data from crypto.news, GOAT skyrocketed by 28.8% in the past 24-hours. The token is currently trading hands at $0.83. In the past week, the token has gone up by 9.47%.

GOAT holds a market cap of $809 million, landing at number 21 among the top meme coins based on market cap. The token has maintained a 24-hour trading volume of $492 million and a circulating supply of more than 999 million tokens.

OKX stated that it will restrict market orders during the first five minutes after trading starts to protect traders from price volatility. Each order is limited to a maximum value of $10,000.

According to the notice, the crypto exchange will hold a call auction system for GOAT which is scheduled to take place on Dec. 12 from 9:00 UTC to 10:00 UTC. The call auction mechanism will allow users to submit buy and sell orders at desired prices based on trading parameters before the trading pair officially launches.

The trading system will generate an opening price based on submissions and call auction rules. At the end of the call auction, OKX will showcase the project team’s opening price as spot trading begins. The project team’s opening price is intended as information only, it will not determine the opening price set by the call auction mechanism and will not impact trading prices.

Goatseus Maximus was born out of an idea generated by Truth Terminal, an AI chatbot created by Andy Ayrey that operates semi-autonomously with human moderators managing its X posts. GOAT sprung up on one of Truth Terminal’s self-conversations. It did not take long before the GOAT token was created on pump.fun. GOAT’s market cap soared rapidly after its creation.