FOGO (Fogo) increased by 18.74% in the past 24 hours

Gate News Bot Message, January 28 — According to CoinMarketCap data, at press time, FOGO (Fogo) is trading at $0.04, up 18.74% in the past 24 hours, with a high of $0.05 and a low of $0.03. The 24-hour trading volume reached $885 million. The current market capitalization is approximately $166 million, an increase of $26.3 million from yesterday.

Fogo is an L1 blockchain built specifically for traders, equipped with a custom Firedancer client that achieves 40-millisecond block times and 1.3-second confirmation times. The platform uses a Tokyo-based delegated consensus mechanism and deploys backup nodes in multiple global locations to ensure low latency and high reliability. The FOGO ecosystem includes a series of trading applications such as Ambient Trade (perpetual contracts with up to 100x leverage), Valiant Swap (spot trading), Flux Beam (advanced limit orders), Pyron (lending protocol), Fogolend (leveraged lending), and Brasa Finance (liquidity staking). All tools are compatible with the Solana ecosystem, providing professional traders with a frictionless, zero-latency trading experience.

Important recent news about FOGO:

1️⃣ Mainstream exchange activities boost awareness Gate launched its 22nd “Crazy Wednesday” event from January 21 to January 25, distributing FOGO as one of the main prizes to users. This directly increased FOGO’s recognition and participation among platform users. The low-threshold activity design (participate with just $1 trading) expanded the potential holder base, providing liquidity and demand support for the recent price increase.

2️⃣ Enhanced financial features attract trader participation The newly launched USDT 14-day fixed-term financial product offers an annualized yield of up to 10%, aligning well with FOGO’s core positioning as “a dedicated L1 blockchain for traders.” This diversified suite of financial tools strengthens the platform’s appeal to professional traders and helps boost activity across FOGO’s trading applications.

3️⃣ Platform contract rebate activities stimulate trading enthusiasm During the same period, Gate launched a contract trading event offering up to 10,000 USDT in rebates, creating additional trading incentives within the FOGO ecosystem. This directly stimulated user demand for high-leverage trading tools like perpetual contracts, matching the 100x leverage perpetual contracts provided by Ambient Trade, which is beneficial for increasing FOGO’s trading volume.

Currently, market liquidity is ample, with a 24-hour trading volume of $885 million, indicating relatively active market participation.

This message is not investment advice. Investors should be aware of market volatility risks.