The Arbitrum-based token, REKT, has only been around for a few days but gained a large number of followers. Like most memecoins, it has no specific purpose. The project’s website also has only a few lines of brief explanation: “At REKT, we believe that investing should be thrilling, not boring. That’s why we’ve created a token that’s designed for people who want to take risks, have fun, and maybe even get a little bit rekted along the way.”
Of course, anyone who has been in the crypto market long enough and is familiar with memecoins knows that investing in these coins comes with a lot of risk. In social media posts, the developers of REKT even described this memecoin as high-risk investments that often get people “rekted”. However, they insist that their project is not a scam. “We won’t trick you, we’ll just REKT you,” they said on Twitter. “Rekt” is a popular crypto slang term for losing all your money.
Despite the lack of clear use cases, this memecoin has been listed on several centralized exchanges. AscendEX announced that it has listed the REKT/USDT trading pair. The company said users can start withdrawing money from April 24. Another lesser known exchange, Lbank.com, also announced that they have listed REKT.
The largest exchange to list this coin meme is Poloniex, which is backed by Justin Sun. The platform says it’s excited to welcome REKT, adding that users can trade it instantly. Meanwhile, MEXC Global also listed REKT for futures trading with 10x leverage. Other exchanges that have listed REKT include BitGet and decentralized exchange, Uniswap.
After being listed on exchanges, REKT price value skyrocketed to a new ATH of $0.000000003935, according to CoinMarketCap. However, it then has dropped to $0.000000001611 at the time of writing.
