News
Over 1 million new crypto tokens launched since April
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The crypto community has created over a million tokens across all chains in the last month, with Solana and Ethereum leading the crypto token frenzy. According to the director of Coinbase, these numbers doubled the tokens created Ethereum between 2015 and 2023.
Over 22,000 new crypto tokens created every day
Coinbase director Connor Grogan shared on X that 1 million tokens have been launched since April 1, 2024. Tokens created in the Ethereum network represent 36% of the total number, with 372,642 tokens launched in the last month and a half.
According to Dune Analytics, 327,553 tokens have been launched on the Base Layer-2 blockchain, approximately 88% of the total. The surge was apparently driven by the memecoin frenzy that has taken over this cycle.
Since April, token creation has increased exponentially. Source: Dune analysis
Additionally, Ethereum and Arbitrum saw significantly fewer new crypto tokens launched, with 21,474 and 19,284 new tokens respectively.
However, Solana took the crown after seeing the creation of 643,227 tokens since April 1st. Of these, 464,563 are memecoins, according to Dune analysis. Grogan also highlighted that Solana sees an average of 20,000 new tokens per day.
As reported by Solana Floor, the blockchain hit a new all-time high (ATH) of newly created tokens on Monday, with 23,000. This could be attributed to the market pump fueled by the return of popular cryptocurrency trader Roaring Kitty. Since his return to social media, several new memecoins have been created and the major ones have increased.
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🚨 BREAKING: Over 23,000 new SPL tokens created on @solana new all-time high in the last 24 hours. pic.twitter.com/cn4ARy0KwC
— SolanaFloor | Powered by Step Finance (@SolanaFloor) May 14, 2024
The crypto community reacted to the surprising numbers, expressing many concerns. A user he underlined that most of these tokens are “just spam for farming sniper bots”. He said some people flip tokens “just to eliminate auto-purchased bots.”
Another user jokingly added, “The moral of the story is don’t buy projects created after February 2024.” This year, investors witnessed the launch of numerous projects that promised big returns. Instead, investors suffered manipulation and other scams.
Altcoin Overabundance?
In late April, DeFi researcher and Web3 investor Thor Hartvigsen he underlined that, just four months into the year, the market had seen a massive increase in altcoin supply.
As a result, this increase represented $8.6 billion in additional liquid supply entering the market. Hartvigsen added that crypto projects will unlock $70.5 billion over the years, with many tokens launched in 2023 “unlocking again this year with many cliffs finishing.”
Furthermore, the market observer highlighted that the average market capitalization float and fully diluted valuation (FDV) for the tokens thrown in the first quarter of 2024 it was just 13.6%.
List of some altcoins launched in Q1 2024. Source: Thor Hartvigsen
For him, this is just “the tip of the iceberg,” as the cryptocurrency market will continue to be flooded with new supplies and tokens. He offered a list of categories that he thinks will see the most new pitches this year.
Its list included modular infrastructure protocols, liquid restaging tokens (LRTs), bridge and cross-messaging solutions, and perpetual decentralized exchanges (DEXs).
Tuesday, DeFi researcher Ignas shared a list based on the recently launched low-float tokens shared by Hartvigsen. According to him, these tokens are down an average of 63.6%.
According to the researcher, tokens such as JUP, ONDO and STRK have seen a decrease of 49.2%, 30.5% and 74.2% compared to ATH prices.
According to the weekly chart, the total capitalization of the cryptocurrency market stands at $2.28 trillion. Source: TOTAL assets TradingView
Featured image from Unsplash.com, chart from TradingView.com
News
Top 5 PolitiFi Tokens to Buy Now for MAX Profits
![Coinpedia - Fintech & Cryptocurreny News Media](https://tokentalk.top/wp-content/uploads/2024/07/1722051907_Top-5-PolitiFi-Tokens-to-Buy-Now-for-MAX-Profits.png)
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.
Source: 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.
Source: 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.
News
Brett Token Price Soars 12%; Analyst Expects Further 30% Upside
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Brett, the largest meme coin in Blockchain Base, rose more than 12% on Friday, as sentiment in the cryptocurrency and stock sectors improved.
Brett (BRETT) the token rose to $0.133, up 31% from its low this month. Some traders believe the meme coin has more upside potential in the future.
Analyst is bullish on Brett
In an X-post, Michael van de Poppe, a trader with over 721,000 followers, said he is optimistic that the token will rise to $0.1712, up 30% from Friday’s trading level.
I’ve been a day trader for a long time and memes are a great way to gain that perspective.
Lots of volume.
And there’s a lot of volatility.When it comes to $BRETTI would look for long positions in this area between $0.125-0.1325 and $0.170 as a clear identification of a potential bull run. photo.twitter.com/hWmSjCZGJa
— Michaël van de Poppe (@CryptoMichNL) July 26, 2024
If he is right, Brett’s market cap will surpass Floki’s (FLOKI), which has a market capitalization of $1.7 billion.
Brett’s bounce came at the start of the Bitcoin 2024 conference today. In a statement at the event, Robert Kennedy, an independent presidential candidate, noted that he is a big supporter of Bitcoin (BTC).
The main protagonist of the event will be Donald Trump, leading in most polls, included in Polymarket. Trump is expected to reiterate his support for cryptocurrencies. Analysts are divided on whether he will announce a Bitcoin reserve at this event.
Blockchain Base is doing well
Brett token also recovered as Base blockchain ecosystems continued to perform well. Launched in 2023 by Coinbase, Base has accumulated over $1.6 billion in DeFi assets, making it the sixth largest chain in the industry. It has surpassed popular networks like Cardano (ADA), Avalanche (AVAILABLE) and Polygon (MATIC).
At the same time, Brett and other altcoins jumped as the U.S. stock market rebounded, signaling that investors have embraced risk-on sentiment. The Dow Jones Industrial Average rose more than 600 points, while the S&P 500 and Nasdaq 100 jumped more than 80 basis points.
Brett Price Chart | Source: Trading View
Technically, Brett formed a morning star pattern, which is a popular reversal sign. In the past, the coin has risen by double digits when it has formed this pattern. For example, it formed on July 12 and then rose by 40%.
On the other hand, this bounce could be a dead cat bounce, where an asset briefly rises and then resumes its downtrend.
News
Top 5 PolitiFi Tokens to Buy Now for MAX Profits
![Coinpedia - Fintech & Cryptocurreny News Media](https://tokentalk.top/wp-content/uploads/2024/07/1722051907_Top-5-PolitiFi-Tokens-to-Buy-Now-for-MAX-Profits.png)
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.
Source: 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.
Source: 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.
News
Binance Completes Render (RNDR) Token Swap and Rebranding to Render (RENDER)
![Binance to Delist OMG, WAVES, WNXM, XEM from 2024-06-17](https://tokentalk.top/wp-content/uploads/2024/06/Binance-will-remove-OMG-WAVES-WNXM-XEM-from-06172024.jpeg)
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, 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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