Binance Announces Memecoin (MEME) – Can It Rival Dogecoin … – BSC NEWS
Combining Impact Gaming and GameFi principles, NuggetRush (NUGX) offers a Play-to-Earn (P2E) meme coin model.
Binance launched Memecoin (MEME) as the 39th project on its Binance Launchpool. On the other hand, a dormant Dogecoin (DOGE) wallet awakened after 9.8 years, igniting speculations in the market. Yet, NuggetRush (NUGX) incorporates the principles of Impact Gaming and GameFi, offering users new investment opportunities. Can NuggetRush surge to compete with Dogecoin and Memecoin?
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On October 28, 2023, Binance introduced Memecoin (MEME) as the 39th project on its Binance Launchpool. Memecoin (MEME) is the native token for the Memeland ecosystem, a Web3 venture studio connected to 9GAG.
Binance users can stake their Binance Coin (BNB), TrueUSD (TUSD), and FDUSD into different pools to farm Memecoin (MEME) tokens over 30 days. The farming began on 2023-10-28 00:00 (UTC) and Memecoin (MEME) will list on Binance on November 3.
The listing will let Memecoin (MEME) token holders trade the token with ease, providing liquidity and flexibility to those seeking to join the Memeland ecosystem.
One of the most impressive aspects of this Memecoin (MEME) launch on Binance is the Seed Tag applied to MEME. This strategy offers security and trust for users seeking to engage with MEME.
The total supply of Memecoin (MEME) tokens is 69 billion. 8,797,500,000 MEME tokens will be floated in the market at the start of the Launchpool. That amount represents 12.75% of the total token supply. Moreover, 1.38 billion Memecoin (MEME), 2% of the total token supply, will be used as user rewards.
A dormant Dogecoin (DOGE) wallet, inactive for around 9.8 years, abruptly reappeared on October 28, 2023, igniting new speculation about the reasons behind its latest activity.
Based on Whale Alert data, the dormant Dogecoin wallet has 5,392,984 DOGE worth over $370,000. Onchain data showed that the activity was sparked by a transfer executed by this Dogecoin whale, which saw 392,000 tokens sent to another DOGE address.
The resurgence of inactive Dogecoin (DOGE) addresses has become increasingly common lately. As previously reported by Coingape, a similar reactivation happened in June, though this time, the revived wallet held just over 2 million DOGE units.
As these reactivations happen often, analysts suggest that these Dogecoin (DOGE) owners might be preparing to end their HODLing and potentially execute a sell-off soon. While this explanation seems reasonable, uncertainty surrounds the timeline and its possible effects on the overall market.
These whale actions complement retail accumulation, increasing resilience in Dogecoin’s (DOGE) price irrespective of market sentiment. On November 1, 2023, Dogecoin (DOGE) was trading at $0.06641.
Analysts expect Dogecoin (DOGE) to rise to $0.07425 by the end of 2023, supported by the bullish momentum in the whole crypto market.
NuggetRush (NUGX) ranks among the top best altcoins to invest in, incorporating the principles of Impact Gaming and GameFi.
NuggetRush (NUGX) is among the newest crypto ICOs to join the market, aiming to emulate the success of Bitcoin (BTC). While it might be new in the cryptocurrency industry, NuggetRush (NUGX) generates lots of interest and enthusiasm among investors and crypto enthusiasts.
In that context, NuggetRush readily integrates two prominent cryptocurrency trends since it is a play-to-earn (P2E) meme coin. Additionally, NUGX’s limited token supply of 500 million supports its potential for value growth.
NuggetRush (NUGX) offers a groundbreaking Play-to-Earn (P2E) gaming model that redefines the crypto experience, making it an interactive and lucrative journey. This core feature boosts user interaction and establishes NuggetRush (NUGX) as the best crypto investment, offering tangible benefits that surpass speculative trading.
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Notably, the project’s remarkable presale performance is proof of its potential. NuggetRush (NUGX) is selling at 0.012 USDT in Stage 2 of the presale – and investors can buy some right now to get in on the action.
This perfectly planned presale, progressing towards a launch price of 0.020 USDT, represents a carefully developed roadmap to push NuggetRush (NUGX) toward a $100 million market capitalization.
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Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $300. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Hashflow has garnered attention for its user-friendly approach with key features, including the Request-for-Quote (RFQ) model and bridgeless cross-chain swaps, emphasizing its competitive edge in the market.
Cryptocurrency trading has become a compelling avenue for profit generation, particularly in the wake of the bullish market trends witnessed in recent times. In this landscape, both centralized and decentralized exchanges vie for attention. Hashflow stands out as a compelling contender for those looking for a decentralized exchange (DEX).
With the promise of facilitating seamless and hassle-free crypto transactions, Hashflow has garnered attention for its commitment to providing a decentralized platform that minimizes fees and eliminates the complexities associated with slippage.
Hashflow allows users to link their crypto wallets to their Hashflow accounts, facilitating instant and secure asset exchanges. Therefore, Hashflow has become an attractive option for crypto enthusiasts and investors seeking a convenient and streamlined way to trade cryptocurrencies.
While it may not cater to every trader's needs, its distinctive benefits warrant a closer look. But before we go further, let's learn more about the Hashflow team and its funding.
The driving force behind Hashflow's success lies in its accomplished team, comprising individuals with diverse backgrounds and extensive experience in their respective fields.
Varun Kumar, the CEO and founder of this venture, has prior experience working as an aerospace engineer at NASA, demonstrating his commitment to precision and innovation. Assisting him in steering Hashflow forward is Victor Ionescu, a seasoned software engineer who has worked for companies like Facebook and Airbnb.
Further, Vinod Raghavan, whose rich consultancy experience at renowned financial institutions like Morgan Stanley, JPMorgan Chase, and Goldman Sachs, provides strategic insight. Additionally, Hashflow's technical prowess can be attributed to the diligent efforts of its software developers and engineers.
With its successful Series A funding round in July 2022, Hashflow's journey to become a prominent player in the decentralized exchange arena received a significant boost. An impressive $25 million was raised from prominent backers in the crypto and finance sectors, including Jump Crypto, Wintermute Trading, Electric Capital, Dragonfly Capital Partners, and Balaji Srinivasan. Notable participation from key industry players, including Coinbase Ventures, Kraken Ventures, LedgerPrime, GSR, Kronos Research, Altonomy, Meltem Demirors, Anthony Sassano, and Jason Choi, further solidified the project's credibility and potential.
To date, Hashflow has received $28.2 million in funding, which signals investor confidence.
Hashflow stands out by offering a user-friendly trading system that combines on-chain and off-chain trading methods. Now let's get into the details.
At the heart of Hashflow's system is the Request-for-Quote (RFQ) model, a departure from the automated market maker (AMM) model utilized by many DEXs. Hashflow connects users with private market makers who act as liquidity providers. These market makers are individuals or entities responsible for creating liquidity pools and offering competitive quotes. When users initiate a trade, they are connected to these market makers, who execute the transactions. This approach streamlines the trading process and ensures that users enjoy competitive prices without the need for complex automation.
Hashflow's flexibility shines through with its bridgeless cross-chain swaps. These swaps enable users to exchange one cryptocurrency for another across different blockchains without intermediaries or token bridges. For example, you can trade Ethereum (ETH) for Bitcoin (BTC) directly. This convenience is further enhanced by eliminating the requirement for blockchain bridges, which often introduce security risks such as hacks and scams.
One of Hashflow's core principles is the assurance of transparent and upfront pricing. The platform operates with zero slippage protocols, meaning that the price users see when initiating a transaction is the price they pay.
This approach eliminates the risk of sudden price fluctuations during the transaction process, ensuring a seamless trading experience. Moreover, Hashflow significantly reduces trading fees, sparing users from incurring a percentage of their transaction value as fees, making it an ideal choice for traders looking to capitalize on minor market movements without additional costs.
A noteworthy addition to Hashflow's ecosystem is the Hashverse, a decentralized autonomous organization (DAO) and governance platform. What sets the Hashverse apart is its innovative integration of gamification and storytelling elements. The Hashverse was created in collaboration with Superconductor, a renowned Hollywood creative team that transports players into a dystopian future where token staking maintains their health.
The platform gives users the opportunity to vote on upgrades and operational aspects.
Let's find out how the Hashflow platform has been performing lately.
Hashflow has recently celebrated significant milestones while weathering the storm of fluctuating market conditions. Let's delve into the comprehensive analysis of Hashflow's current performance and key metrics across various deployments and network activities.
In the midst of a challenging quarter that witnessed a general decline in trading volumes across the crypto landscape, Hashflow showcased resilience. Notably, Hashflow surpassed $15 billion in lifetime trading volume, a testament to its enduring popularity and user confidence.
Despite the overall decline, Hashflow experienced notable growth on the Ethereum network, with trading volume reaching over $1.18 billion, marking a 22% increase from the previous quarter. This growth was notable, especially considering the 24% decline observed in DEX volumes on the Ethereum network during the same period.
While Hashflow's performance on the Ethereum network remained robust, its deployments on Polygon, BNB Chain, and Avalanche experienced a decline in trading activity. The combined trading volume from these three deployments fell below $50 million, indicating a significant downturn from the $600 million recorded in the same quarter of the previous year. However, Hashflow's deployment on Arbitrum, the second largest by volume, saw a relatively marginal decline of 31% to $295 million.
An interesting shift was observed in the share of Hashflow volume from aggregators, increasing from 70% to 78% in the third quarter. This rise can be attributed to the platform's unique Request-for-Quote (RFQ) model, which consistently delivers lower prices compared to its competitors.
The month of October brought encouraging news for Hashflow, with trading volumes soaring to over $84 million on October 24, marking the highest trading activity in the past 12 months. This surge points to the sustained momentum and growing user interest in the platform's offerings.
The HFT token lies at the heart of Hashflow's ecosystem, serving as the native token for both the Hashflow protocol and the Hashverse governance platform. As part of the Hashflow ecosystem, this intrinsic token system shapes the governance framework, incentivizes active participation, and fosters a thriving community.
HFT holders wield significant influence within the Hashflow protocol, actively participating in the governance process and decision-making mechanisms. The voting power is directly tied to the amount of HFT staked and the duration of the stake, empowering users to contribute to the evolution and development of the platform. By staking HFT, users play a pivotal role in shaping the trajectory of Hashflow, contributing to its continued growth and strategic development.
Hashflow is committed to fostering community participation and engagement through its ongoing incentive program. Approximately 8% of the entire HFT token supply is allocated to this initiative. Users can earn rewards by actively trading on Hashflow, with incentives varying based on the type of trading. Whether trading stablecoins or other cryptocurrencies, liquidity providers and market makers can earn their fair share of incentives, enhancing the platform's sense of community and collaboration.
With an initial supply of 1 billion tokens, the distribution of HFT tokens is meticulously structured to ensure balanced ecosystem development and sustainable growth. The allocation of tokens spans diverse categories, including core team allocation, early investor allocations, future hires, and a comprehensive ecosystem development plan that encompasses various strategic initiatives.
The token distribution is as follows:
In a strategic move aimed at solidifying its revenue model and fortifying the Hashflow ecosystem, the platform announced the implementation of fees on November 1. This pivotal decision not only establishes the first revenue stream for the protocol but also offers added benefits to the community of HFT token stakers, as directed by the Hashflow DAO.
Hashflow's focus on enhancing accessibility and user convenience was exemplified through its strategic partnership with MoonPay, a leading Web3 infrastructure company, announced in May. This collaboration facilitated the seamless integration of crypto on-ramps to the exchange, enabling users to purchase digital assets using credit cards and bank transfers across 160 countries.
A recent milestone in the HashFlow ecosystem was the unlocking of 160 million HFT tokens, valued at $44.8 million. This unlocking event marked a significant phase in the platform's growth trajectory, as it allocated these tokens for various purposes within the ecosystem. Notably, the distribution of unlocked tokens encompasses allocations for early investors, ecosystem development, the core team, and community rewards.
Hashflow's comprehensive roadmap highlights incorporating cutting-edge features and fostering a dynamic ecosystem.
From cross-chain NFT trades to the introduction of exchange-traded funds (ETFs) in the road map, Hashflow aims to revolutionize the trading experience, facilitating seamless and secure transactions that transcend traditional boundaries and enable users to capitalize on a diverse range of investment opportunities within the crypto landscape.
At its core, Hashflow remains dedicated to facilitating seamless and secure trading experiences, exemplified by its commitment to commission-free transactions and transparent market pricing. By leveraging an RFQ mechanism that empowers expert market makers to control liquidity pools, Hashflow enhances the efficiency, security, and accessibility of financial products within the DeFi ecosystem.
Through innovation, user-centric features, and transparent trading practices, Hashflow continues to pioneer a new era of decentralized trading. By advancing the future of decentralized finance and empowering users to navigate the complexity of the digital asset landscape, it strives to be a leader in cryptocurrency trading.
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Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
Sponsored
Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.