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Football tokens shine ahead of sporting summer By Reuters

TokenTalk Staff

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Football tokens shine ahead of sporting summer By Reuters

By Lisa Pauline Mattakal

(Reuters) – As football fever grows for major tournaments in Europe and the Americas, a small but vibrant part of the cryptoverse is stealing center stage: fan tokens.

These are not your usual digital assets, they are tokens issued by national teams or individual clubs that promise fans a marketable way to interact with their teams.

Activity in tokens linked to participating national teams has increased ahead of the Euro 2024 European soccer championship, which begins on Friday, and the Copa América in North and South America, which begins a week later.

The market value of the Chiliz cryptocurrency – the native coin of the Socios blockchain that hosts most of the major fan tokens, and therefore a broad proxy for the niche sector – has risen to over $1.07 billion from around $687 million of dollars at the beginning of the year. it is approaching levels last seen around the 2022 World Cup, according to data from CoinGecko.

Fan token trading volumes have also increased in recent months, recording more than $170 million on May 24, versus between $25 million and $57 million for most of January, according to Kaiko data. According to data from CoinGecko, the total market value of listed fan tokens amounts to approximately $413 million.

This summer of sports could be a key test for the still-nascent industry of fan tokens, which typically offer perks like lottery entries, early access to tickets, discounts on merchandise or the ability to vote on smaller decisions like game songs.

Supporters praise the tokens as a rare example of real-world crypto utility, while critics highlight tensions between the stated purpose of the team’s effort and the speculative — and risky — nature of tradable assets.

A spokesperson for Chiliz said the company’s marketing was clear that “fan tokens are fan engagement tools and should be used as such.”

The price of Portugal’s fan token has risen about 2% over the past 30 days to $2.94, while Argentina’s token briefly touched its highest level since 2022 at $2.46, although both are still trading below the peaks reached during the 2022 World Cup.

“There has been a noticeable increase in trading volumes, but we expect it to be short-lived,” said Jag Kooner, head of derivatives at Bitfinex, pointing to a decline in trading after the World Cup.

Many top soccer teams and sports stars promoted crypto assets — such as non-fungible tokens (NFTs) or fan tokens — to fans during an earlier cryptocurrency boom in 2021, drawing the ire of critics who warned they could encourage financial speculation.

British lawmakers warned last year that the rise of NFTs in sport was putting fans at risk of financial harm and potentially damaging clubs’ reputations. Meanwhile, the Football Supporters’ Association of England and Wales has dismissed fan token partnerships as “an attempt to monetise trivial matters” or “the insertion of financial barriers to real fan engagement”.

COMMITMENT VS SPECULATION

Changes in token volume and price do not always correspond to team performance, noted Adam McCarthy, research analyst at Kaiko.

“I see no evidence that holders benefit from holding these tokens as some sort of bet on the success of their respective teams,” he added.

A study analyzing fan token trading at major sporting events found that it often aligns with the “buy the rumor, sell the news” model found in traditional finance. Volumes and returns typically increase before major tournaments, then decline at the start of major games.

On the other hand, another study found that fans who purchase tokens typically take advantage of the benefits of voting on club-related decisions.

“When fans are given the chance to influence club decisions, they engage in a substantial way,” said Lennart Ante, who worked on both studies and is CEO of the Blockchain Research Lab.

“The dual nature of fan tokens as both engagement tools and speculative assets creates a dichotomy,” Ante added. “The future of fan tokens may depend on how this distribution evolves between engagement-focused users and speculators.”

SLOW GROWTH EVEN WHEN THE TOKENS ARRIVE

The growth of tokens linked to clubs, rather than national teams, remains slow.

At the same time, the number of fan tokens has increased in recent years, given the ease of launching tokens on blockchains like , Bitfinex’s Kooner said. Chiliz said it has launched 80 fan tokens in the past year.

©Reuters.  FILE PHOTO: General view of a giant replica of a soccer ball outside Munich's Football Arena ahead of Euro 2024 REUTERS/Michaela Stache/File Photo

French football giant Paris Saint-Germain, which owns a fan token, announced earlier this year that it would become a network validator for the Chiliz Chain blockchain, meaning it would manage and secure part of the chain .

English club Watford FC recently offered a 10% stake in the club to investors and fans via digital stock tokens. In addition to equity participation, other perks include dinners with team members and private tours of the training grounds, depending on the level of investment.



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Top 5 PolitiFi Tokens to Buy Now for MAX Profits

TokenTalk Staff

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Coinpedia - Fintech & Cryptocurreny News Media

With the US presidential election fast approaching, the cryptocurrency world is buzzing with new trends. In addition to the well-known cartoon-themed meme coins, a new category is making waves: PolitiFi tokens. Did you see that coming?

These politically themed crypto tokens are gaining attention, especially those centered around former President Donald Trump. Today, we explore the 5 trending Trump-themed PolitiFi tokens.

Stock up to benefit later!

1. Trump (Magazine)

Launched about a year ago, the Trump-themed MAGA token has caused quite a stir in the cryptocurrency ecosystem. Inspired by Donald Trump’s slogan “Make America Great Again,” the MAGA token has produced an astonishing 35 million percent return since its inception. Currently trading at $5.65, it has fallen 8.80 percent in the past 24 hours.

Despite this, the token’s trading volume increased by 23.23%, bringing its market cap to $248 million and securing the 220th spot on CoinMarketCap.

Trump Themed Political Token -TRUMP - Price ChartSource: Dexscreener

2. MAGA (MAGA)

Another token with the same ticker, MAGA, is also trending in the PolitiFi category. With 390 billion tokens in circulation, this MAGA token has seen a 11.08% price drop over the past 24 hours, but an 81.39% increase in trading volume. Currently trading at $0.0001337, it is ranked 21st on Dexscreener’s trending list and 522nd on CoinMarketCap. Despite being only two months old, it has provided early adopters with a remarkable profit of 313,373.62% at its all-time high of $0.0007354.

Source: Dexscreener

3. Super Trump Coin (STRUMP)

Super Trump Coin, a meme token depicting Donald Trump as Superman, has a circulating supply of 1.8 billion tokens. Over the past 24 hours, its trading volume has increased by 39.88%. Currently trading at $0.01112, it has dropped by 6.07% over the past 24 hours, but holds a CoinMarketCap rating of 776. From its all-time high of $0.03085, it has dropped by 64.06%. Despite this, its impressive short-term returns have made it a favorite among Trump crypto enthusiasts.

Source: Dexscreener

4. MAGA Vice President (MVP)

Launched just four months ago, MAGA VP has yet to break into the top 1000 cryptocurrencies on CoinMarketCap, currently ranked 1231st. With a value of $0.128, its trading volume has increased by 21.79% over the past 24 hours, with a market cap of $5.3 million. While it is up 110% at its current price, it is down 83.24% from its all-time high of $0.7706.

Source: Dexscreener

5. Little Trump

One of the most unique Trump-themed tokens is Baby Trump, which depicts Donald Trump as a baby president. With a circulating supply of 406 million tokens, it has a market cap of $3.5 million at a trading price of $0.008616. Although its price has dropped 9.45% in the last 24 hours, its trading volume has increased by 4.29%. At its peak, Baby Trump’s market cap was $11 million.

Notably, Baby Trump is the only token among the five analyzed to be based on the BNB Smart Chain, while the others are based on the Ethereum network.

Trump Themed Political Token - BABY TRUMP - Price ChartSource: Dexscreener

It’s an exciting time for cryptocurrencies

The current political climate in the United States is spawning a new wave of meme tokens themed around various political figures. Among them, Trump-themed PolitiFi tokens are experiencing the most significant surge in popularity. Support for Donald Trump in the crypto community seems to be a driving force behind the success of these tokens.

Do you think Trump-themed PolitiFi tokens are here to stay or just a passing trend? Share your thoughts.

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Binance Completes Render (RNDR) Token Swap and Rebranding to Render (RENDER)

TokenTalk Staff

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Binance to Delist OMG, WAVES, WNXM, XEM from 2024-06-17



Lorenzo JengarJul 26, 2024 10:26 AM

Binance has successfully completed the token swap and rebranding of Render (RNDR) to Render (RENDER), opening new trading pairs and enabling deposits and withdrawals.



Binance Completes Render (RNDR) Token Swap and Rebranding to Render (RENDER)

Binance, a leading cryptocurrency exchange, has successfully completed the token swap and rebranding of Render (RNDR) to Render (RENDER), according to an official announcement from the company. The transition marks a significant milestone for the platform and its users, as deposits and withdrawals for the new RENDER tokens are now open.

New trading pairs and availability

Following the rebranding, Binance has opened spot trading for several new pairs involving RENDER. These pairs include RENDER/BTC, RENDER/USDT, RENDER/FDUSD, RENDER/USDC, RENDER/TRY, RENDER/EUR, and RENDER/BRL. Trading began on July 26, 2024, at 08:00 (UTC). Users engaging in Spot Copy Trading wallets can add these pairs by enabling them in the Personal Pair Preference section of the Spot Copy Trading settings.

Token Distribution and User Instructions

The token exchange was conducted at a ratio of 1 RNDR to 1 RENDER. Users can view the token distribution history via their Binance wallet history. Additionally, there are new RENDER token deposit addresses available for users to obtain.

It is important to note that deposits and withdrawals of the old RNDR tokens are no longer supported. Users are advised to update their wallet addresses and ensure that all transactions involve the new RENDER tokens to avoid any issues.

General information and disclaimers

Binance noted that there may be discrepancies in translated versions of this announcement and that users should refer to the original English version for more accurate information.

For more detailed information, users can refer to the official announcement on Binance website. Source.

As always, Binance reminds users to be cautious with their investment decisions. The platform is not responsible for any losses incurred due to market volatility. Users should consider their own financial situation and consult independent financial advisors if necessary.

Image source: Shutterstock

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Crypto AI RENDER token soars 15.6% after rebranding. Can it hit $10?

TokenTalk Staff

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Crypto AI RENDER token soars 15.6% after rebranding. Can it hit $10?

Today, Render Network finalized the migration and upgrade of the cryptographic AI token RENDER. Following the highly anticipated rebranding, the AI ​​token has seen positive price action, rising over 15% in the past day. Investors and market observers have expressed optimism about the rebranded token and believe it could hit $10 soon.

From RNDR to RENDER

Last year, the Render Network Foundation moved from Ethereum (ETH), where it was originally launched, to Solana (SOL). The move followed a community vote that approved two major upgrades to the network.

According to announcementThe move to Solana was “proposed for faster transactions, cheaper fees, and the project’s need to achieve more ambitious goals with more data and on-chain transactions.” The community also voted to rename the token from RNDR to RENDER, which will be finalized in 2024.

This month, the foundation informed users that many cryptocurrency exchanges, including Binance, Kraken, OKX, Crypto.com, and KuCoin, would automatically replace RNDR tokens with the rebranded token at a 1:1 ratio.

Monday, the RNDR The delisting from cryptocurrency exchanges began ahead of the scheduled migration on July 26. Exchanges halted most operations with the token, negatively impacting its performance over the course of the week.

Furthermore, whales apparently contributed impact on the token price. Online reports revealed that some notable holders sold their RNDR following the news, dragging the price from above the $7 support level to below the $6.5 price range.

The token continued to plummet in the following days, falling below the $6 mark, a 17% drop in four days. However, the long-awaited migration and listing of the new RENDER token seems to have kick-started a price recovery.

AI Token Skyrockets 17% After Listing on Binance

The newly renamed cryptocurrency AI Tokens has surged over 17% today after being listed by cryptocurrency exchange Binance. On Friday, the exchange announced that RENDER had been added to Binance Simple Earn, Buy Crypto, and Binance Convert.

Additionally, he revealed that Binance Margin and Futures options will be available today for the AI ​​token. Meanwhile, the Auto-Invest option will be added on Monday, July 29. On that date, cryptocurrency exchange Kraken will also list RENDER and delist RNDR.

Investors and market observers have expressed optimism for the rebranding and listing on Binance. One user X said that as the project enters this new era, “RENDER token with this new chart of lows around $6.5 has the potential to reach unimaginable heights.”

Coinboss Cryptocurrency Analyst consider that the token could “pinball” if it makes a clean break above the $7 resistance level. A successful retest of the target could potentially lead the token to reclaim the $11 mark, further fueling a surge above RNDR’s all-time high (ATH) of $13.53.

Another cryptographic analyst pseudonym you think RENDER may soon hit $10, saying: “Thanks for the fud. See you above $10.” Some users also believe that investors will regret missing the “best buying opportunity.”

Over the past 24 hours, the AI ​​crypto token has seen a remarkable 140% increase in market activity, with a daily trading volume of $83.1 million. At the time of writing, RENDER is trading at $6.89, up 15.6% from the previous day.

AI, RENDER, RENDERUSDTRENDER Performance on 3-day chart. Source: RENDERUSDT on Trading View

Featured image from Unsplash.com, chart from TradingView.com

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New Play-to-Earn Meme Token Nears $6M Pre-Sale Milestone, Offering Millions of Dollars of In-Game Rewards

TokenTalk Staff

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New Play-to-Earn Meme Token Approaching $6 Million Presale Mark, Features Million-Dollar Gaming Rewards

The cryptocurrency market is experiencing a recovery and amidst this positive trend, PlayDoge it emerged as an exceptional project.

Currently in its pre-sale phase, PlayDoge has already raised over $5.8 million in funding, cementing its position as one of the most successful and fastest-growing pre-sales companies on the market.

This result is particularly impressive considering the prevailing uncertainty among investors.

PlayDoge: Reveals Game’s Appeal, Key Features, and Investment Information

PlayDoge is a cash-winning mobile game that brings the iconic dog meme to life as a Tamagotchi-style virtual pet.

Players can feed, entertain, train, and make sure their Doge gets plenty of sleep as they embark on classic side-scrolling adventures that hark back to 90s nostalgia.

The game also includes retro arcade mini-games, similar to Space Invaders, where players can earn PlayDoge tokens. The earning potential in PlayDoge is substantial, with millions of dollars set aside for community rewards.

The roadmap indicates that the PlayDoge app and minigames will be released in the fourth phase, with further centralized listings and community airdrops planned.

Interested PlayDoge investors can easily purchase tokens by connecting their wallets. Using Wallet Connect, investors can scan a QR code to proceed with the purchase.

For example, buying one Ethereum of PlayDoge will yield approximately 600,000 $PLAY tokens. Considering the current token price of $0.005, the potential profits could be significant if the price reaches $0.01, $0.05, or even $0.10.

Larger purchases are also easy, with over 5 million $PLAY tokens costing 8.9 Ethereum. Tokens can be purchased via card, Ethereum, Binance Smart Chain, or USDT.

PlayDoge Pre-Sale Raised Over $5 MillionPlayDoge Pre-Sale Raised Over $5 Million

Notably, PlayDoge offers an annualized rate of return of 81% for those willing to invest their tokens, providing an additional incentive for investors seeking long-term gains.

PlayDoge: Huge Reward Potential for Early Investors

PlayDoge Tokenomics is meticulously designed to support long-term growth and foster community engagement.

The token allocation is as follows: 50% for presale, 6.5% for community rewards, 11.5% for liquidity, 10% for marketing, 10% for project funds, and 12% for staking rewards.

This strategic distribution ensures a solid foundation for project development, while encouraging active community participation.

If PlayDoge reaches a valuation of $100 million, the 6.5% community rewards would amount to $6.5 million. If the valuation were to rise to $1 billion, the community rewards would increase to $65 million.

This significant potential for financial rewards represents a lucrative opportunity for players, making PlayDoge an attractive investment in the cryptocurrency market.

PlayDoge has successfully built a vibrant community with over 6,000 followers on X (formerly Twitter) and 11,000 members on Telegram.

As part of its engagement strategy, PlayDoge is running a 150 USDT meme contest. To participate, participants need to follow the official PlayDoge Twitter account and follow the instructions provided.

PlayDoge Twitter PostPlayDoge Twitter Post

Source – PlayDoge Twitter

The winner will be announced next Wednesday. This strong community growth has also occurred during times of extreme fear, as indicated by the Fear and Greed Index. With the index now rising to a level of 59, investor confidence is steadily increasing.

The PlayDoge Pre-Sale is well positioned to capitalize on this renewed market optimism. To participate in the $PLAY token pre-sale, visit playdoge.io.

Conclusion

A new era of meme coins is emerging and PlayDoge stands out for its innovative approach that transcends traditional concepts.

Introducing a Tamagotchi-style play-and-earn model, featuring the iconic Doge meme as a 2D virtual pet, PlayDoge offers a new and engaging investment opportunity.

Currently in pre-sales, the project is generating considerable excitement and anticipation for its potential growth upon market launch.

With its mix of nostalgic charm and innovative mechanics, PlayDoge is poised to attract significant interest from cryptocurrency enthusiasts and investors, marking a promising new chapter in the era of meme coins. For those looking for alternative investments, check out our 2024 Guide To The Best Meme Coins To Buy.

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