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Memecoins

Memecoin Protocol Raises $5.5M – This VC Calls It Ethereum Ordinals Moment – ​​DL News

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Memecoin Protocol Raises $5.5M – This VC Calls It Ethereum Ordinals Moment – ​​DL News

general manager, Tim here.

Here’s what caught my eye about DeFi recently:

  • What are Heroglyphs and How Do They Help Ethereum?
  • Why the DoJ just shut down crypto mixer Samourai Wallet.
  • Lessons learned from Renzo’s $56 million ezETH depeg.

$5.5 million hype for heroglyphs

DeFi users are spending big on Heroglyphs, a hot new project that aims to align crypto memecoin trading and Ethereum decentralization.

The Heroglyph Protocol will give Ethereum users who manage their own validators – or solo stakers – the ability to exclusively create a special new type of token.

The idea is that these exclusive tokens will become the new, popular way for speculators to create memecoins.

If successful, the demand for Heroglyphs should encourage more solo staking, making the Ethereum network more decentralized. The centralization of Ethereum validators is a an omnipresent worry among its users and developers.

According to Andrew Kang, co-founder of Mechanism Capital, Heroglyphs could be Ethereum’s “Ordinals moment”. Ordinal tokens exploded on the Bitcoin network last year and are collectively valued at over $2.1 billion.

So far, the Heroglyph protocol has released a white paper describing how the protocol works. He also launched a website which allows users to create multiple NFTs of varying cost.

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It is not yet clear what these NFTs will do. But that didn’t stop speculators from spending almost $5.5 million on them since they began striking on April 26.

Samourai Wallet founders arrested

The news sent shockwaves throughout DeFi: Authorities arrested two co-founders of Samourai Wallet amid charges from the U.S. Department of Justice, including conspiracy to commit money laundering.

Samourai Wallet, a Bitcoin wallet and cryptocurrency mixer, has a long history of not only facilitating private transactions but also actively welcoming those flouting US sanctions.

“Welcome new users of the Russian oligarch Samourai Wallet,” the project’s X account posted last June.

The United States has previously harshly criticized those accused of aiding countries it has sanctioned. You just have to ask Virgil Griffithan Ethereum developer sentenced to more than five years in prison for advising North Korea on how to use cryptocurrency and blockchain technology, which the nation-state uses to evade sanctions.

However, going after crypto mixers like Samourai Wallet is not a good way to prevent illegal transactions, said Mikko Ohtamaa, security researcher and CEO of trading protocol DeFi Trading Strategy. DL News.

“The most effective place to stop money laundering is centralized on- and off-ramps,” he said, referring to centralized crypto exchanges.

Renzo’s ezETH depegs

These loop deposits of Renzo’s ezETH recovery token just lost $56 million after the protocol’s REZ token announcement triggered a liquidation cascade.

Investors were disappointed after Renzo revealed that ezETH holders are set to receive 5% of the total REZ supply, compared to 2.5% for Binance launch pool participants.

This discrepancy has caused frustration among ezETH users, who feel that their four-month commitment to holding ezETH deserves a larger reward than that offered to those who participate in Binance’s seven-day introductory pool.

The incident also highlights issues with launching liquid staking or restaking tokens without giving users the option to redeem them for backing Ether.

This is not the first time that ezETH loopers have been affected in recent weeks. On April 11, an unexpected code change on the Blast-based Pac Finance protocol was triggered $26 million value of liquidations.

Data of the week — Distribution of heroglyphs

Looking for the latest hero updates? Check out the breakdown of NFTs created with Daedalus’ Dune Dashboard.

This week in DeFi governance

VOTE: Arbitrum DAO decides on the beneficiaries of its long-term incentive pilot program

VOTE: HAI to distribute its first round of community rewards

VOTE: Aave will host a Cantina security competition ahead of its v3.1 upgrade

Article of the week

Ethereum co-founder Vitalik Buterin explains Binius: A way to make cryptography proof systems binary.

What we’re looking at…

Restoration protocol EigenLayer has just announced its EIGEN token, along with an airdrop for early depositors.

Do you have a tip on DeFi? Contact us at tim@dlnews.com.



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Memecoins

BODEN Token Crash Causes Traders to Lose $8 Million

TokenTalk Staff

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BODEN Token Crash

A trader suffered a loss of nearly $8 million after investing heavily in the Biden-linked Jeo Boden (BODEN) token. The incident highlights the volatile nature of memecoins, which, despite the trader’s setback, continue to attract considerable attention in the cryptocurrency market.

Massive losses due to political changes

Biden-related memecoins fell more than 60% after President Biden unexpectedly withdrew from the 2024 election race. decline had a direct impact on the trader who had exchanged a substantial amount of Jupiter (JUP) tokens for BODEN at record prices.

As a result, the value of this investment has now fallen to around $85,000, compared to a colossal initial stake of $8 million, marking an almost total loss.

Potential rise in the memecoin market

Despite these losses, the memecoin market may be on the verge of a recovery. Other memecoins, unrelated to political figures, are reaching new highs. For example, Mogcoin (MOG), an Ethereum-based meme token, recently hit a new all-time high, increasing its market cap to over $820 million.

Additionally, the memecoin named after US Vice President Kamala Horris (KAMA) surged over 100% on July 21, hitting a new all-time high of $0.02571 according to data from Coingecko. This comes after President Joe Biden endorsed Kamala Harris for the US presidency.

These trends are fueling traders’ expectations of an impending altcoin season, which could see many cryptocurrencies reach new all-time highs in value. While the volatility of memecoins linked to political figures could lead to losses, the broader memecoin market could be preparing for a dynamic recovery.

Read also : Boden meme drops 62% after Biden withdraws from 2024 race



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Memecoins

Will Matt Furie’s ‘Boy’s Club’ Memecoins See a 100x Increase in This Crypto Bull Run?

TokenTalk Staff

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Will Matt Furie's 'Boy's Club' Memecoins See a 100x Increase in This Crypto Bull Run?

The cryptocurrency market has continued to move in a bullish mood, adding 1.11% to its valuation over the past day, and it is currently valued at $2.47 trillion. Additionally, major tokens have managed to surpass their important levels, indicating increased positive sentiment.

On the other hand, Matt Furie’s low-cap memecoins have gained considerable attention in recent days. This underlines the growing interest of investors in this type of cryptocurrency. Tokens such as SPIKE, Wolf Skull, Molly, and Boy’s Club are gaining considerable popularity.

I plan to become one of the first investors for the next cryptocurrency bull market? Dive into this article as we uncover the best altcoins to stack that have strong potential to dominate top-tier crypto tokens in the coming months.

Grandpa (PEPE):

The best performing memecoin from Matt Furie’s Boys Club, Pepe cryptocurrency is the third largest memecoin by market cap and is currently valued at $5.1 billion. The memecoin is consistently trading above its important support level of $0.00001150.

TradingView: PEPE/USDT

Moreover, the technical indicators, RSI and MACD are registering a consistent bullish sentiment, highlighting that the Pepe coin price will continue to gain value in the times to come.

If the market continues to trade under a bullish sentiment. This could lead to the PEPE Award is preparing to test its upper resistance level of $0.00001718 this month. Conversely, if the bears regain momentum, the memecoin will plunge towards its low of $0.00000880.

Brett (BRETT):

Brett memecoin first appeared in the cryptocurrency market on May 1, 2024 with the help of the BASE chain. After its launch, this memecoin has gained considerable attention and is trading at around +700% from its all-time low (ATL) of $0.01945.

In addition, the Brett project is one of the most important cultural icons and the mascot of the BASE channel. It is worth noting that the BASE ecosystem is rapidly developing with many unique and fundamentally strong projects.

With a trading price of $0.142, a circulating supply of 9.910 billion, and a total supply of 10 billion, this memecoin has secured the 65th position in the global cryptocurrency list with a market capitalization of $1.407 billion.

Andy (ANDY):

Launched on the Ethereum blockchain during the memecoin craze in the early months of 2024, this memecoin instantly caught the attention of the crypto space in a short span of time. This has allowed it to register a 52,287% increase in the last four months.

With a massive circulating supply of 1 trillion ANDY tokens and a trading price of $0.0001438, Andy (ETH) price has reached 293rd place with a market cap of over $143.5 million at the time of writing.

EarthWolf (WOLF):

One of the most recent launches of the ERC20 block. The $WOLF token made its first appearance on March 7th of this year. The token is inspired by LandWolf, who claims to be the best friend of PEPE from the Boy’s Club. Each transaction is subject to a 1/1 fee which is used for marketing and stock market listing.

With a jump of over 80% from its ATL, the memecoin is currently trading at #3,447 with a trading price of $0.01129 and a circulating supply of 420.69 million WOLF tokens.

Hoppy (HOUPPY):

Built on the Ethereum blockchain, the Hoppy project is inspired by Matt Furie’s 2012 comic book series The Night Riders. Notably, Hoppy Meme Coin’s roadmap is divided into 3 phases. The first phase includes building its community and increasing its visibility in the cryptocurrency market.

The second phase is to reach over 100,000 unique holders. This will be followed by phase 3, which includes the memecoin taking over the meme universe.

With a trading price of $0.00009453, this memecoin secured the 614th position. It has a market cap of $39.76 million and a circulating supply of $420.69 billion.

Conclusion:

With the increased price volatility in the cryptocurrency market, the memecoin category has regained momentum and recorded a massive uptrend in its valuation over the past few days.

Additionally, with Bitcoin price hovering near its $68,000 mark. Additionally, with the potential listing of Ethereum ETF This WeekThe market is about to experience a new bullish rally.

Note: This article is not financial advice or an investment strategy and has been written for educational purposes only. The tokens selected in this article are based on their market history and social sentiments and are not promoted.

Also see: Joe Biden’s Departure Sends Kamala Harris Meme Coin to New Heights

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Memecoins

Cryptocurrency Analyst Says This New Meme Currency Could Be The Next Pepe

TokenTalk Staff

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Russian flag mounted of a mountain full of crypto

Step aside Pepe, a new phenomenon has entered the arena. The meme coin market has been nothing short of exciting this year, and one leading analyst is backing The Meme Games ($MGMES) as the next big thing.

It is currently in its pre-sale phase, allowing investors to buy at a fixed, discounted rate before its stock market launch.

ClayBro Backs The Meme Games For A Spot On The Meme Coin Podium

Pepe has managed to become one of the top three meme coins, but now The Meme Games has its eyes on the prize.

Famous cryptocurrency analyst ClayBro is one of the most vocal proponents of $MGMES, suggesting that it could be the “next Pepe.”

Such a prediction cannot be ignored. Pepe has a market capitalization of about $5 billion. Meme Games has already raised $200,000.

The repricing of $MGMES to catch Pepe would be monumental, and current holders would accumulate life-changing wealth.

With that in mind, let’s take a look at ClayBro’s thoughts on why The Meme Games might explode.

“If you’re looking for the meme of all memes, you need to check out The Meme Games.” Those were ClayBro’s opening remarks.

He then highlighted key features of the project’s ecosystem, such as a 25% bonus on pre-sale investments for those who win the “169-meter sprint.”

After praising the project’s unique perspective, ClayBro pointed out that crypto’s Fear and Greed tracker is back in the “greed” zone.

According to the analyst, these figures are bullish for the market. They indicate that investors’ risk appetite is increasing, paving the way for projects like The Meme Games to attract significant liquidity.

Meme Games Could Be the Official Currency of the Olympics

Let’s talk about being fast!

Although it has only just been launched, The Meme Games is considered the official meme currency of the 2024 Olympics.

The opening ceremony of the Olympic Games will take place on July 26, and an estimated 1 billion viewers will watch the event this year.

Given that The Meme Games is based on the Olympics, it’s the perfect time for this new project to emerge. This won’t be the first time a meme coin has benefited from the Olympics’ popularity.

The memetic-Olympian crossover dates back to 2014, when the Dogecoin community sponsored the Jamaican bobsled team to compete in the Sochi Winter Olympics.

It was the first concrete example of the powerful enigma of meme coins. But today, it’s The Meme Games that holds the torch.

This is a global project featuring five very impactful meme coin characters: DogePepe, Brett, Turbo and Dogwifhat.

When investors purchase the pre-sale, they are asked to select which of the roster members they think will win a virtual “169-meter sprint.”

They get a free 25% bonus on their pre-sale investment if they make the right choice. And don’t worry. Even if they miss their goal, they get unlimited trials because there is no minimum pre-sale investment.

Each meme coin character has unique strengths, but they all have a 20% chance of winning.

The 169-meter sprint reflects the Olympic spirit, introducing fun, competitiveness and excitement to the Meme Games.

Get a head start with 1,200% APY staking rewards. $MGMES launches on decentralized exchanges on September 10, but presale investors get a rare perk.

They can stake their tokens to reap additional rewards, even before the exchange launches. Staking is live and currently offers a mind-blowing 1,200% APY.

Indeed, the rewards won’t stay that high: they will decrease as the staking pool grows. But based on the current APY, it would only take 30 days to double your stake.

And with the Olympics likely to be a hot topic in the coming months, the potential for capital appreciation should also be considered.

As mentioned earlier, ClayBro believes that $MGMES could rival Pepe. In the meantime, YouTube channel 99Bitcoins said its value could increase by 100x.

This would turn a $10,000 investment into $1 million.

It’s unclear how far meme games can go. However, with a trending use case and massive support from analysts, the future looks bright.

Currently, investors can buy $MGMES for $0.00905, but this price will increase throughout the campaign. The next increase will take place in three days.

Visit the Meme Games pre-sale

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Memecoins

Memecoins are the best performing stories this year, with Base and Solana leading the way: Binance Research

TokenTalk Staff

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Memecoins are the best performing stories this year, with Base and Solana leading the way: Binance Research

The research arm of the leading cryptocurrency exchange by trading volume claims that a growing sector of digital assets is far outpacing others.

According to a new study Memecoins to Drive Cryptocurrency Awareness in 2024, Binance Research Finds

“Memecoins have generated significant activity among traders and have attracted notable attention within the crypto community. Considering that memecoins have been the best performing sector year-to-date, returning a staggering 279%, it’s hardly surprising that this is a sector that has generated so much interest.”

Source: Binance Research

Coinbase Ethereum (ETH) Layer 2 Base chain and ETH Solana competitor (GROUND) are the two blockchains driving the rise of memecoin, according to Binance Research.

Binance notes that crypto projects associated with emerging artificial intelligence (AI) technologies have also driven consumer interest in cryptocurrencies.

The study also reveals that the decentralized finance (DeFi) sub-sector has found new life in 2024.

“2024 has seen a substantial influx of capital into decentralized finance (“DeFi”), driving TVL (total value locked) up 72.8% year-to-date (“YTD”) to $94.1 billion, up from $54.4 billion at the start of the year. This surge has benefited nearly every sector of DeFi, from major to niche markets, leading to the emergence of protocols that make previously inaccessible financial primitives available on-chain.”

Looking ahead to the rest of the year, Binance is highlighting the tokenization of real-world assets and the growth of Bitcoin (Bitcoin) an ecosystem like other crypto sectors to watch.

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