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Memecoin

Pepe and BRETT Surge After Upbit Trading Announcement

by Ouess
written by Ouess

Pepe and BRETT have seen impressive price increases following a major announcement from the Upbit cryptocurrency exchange. Starting at 19:30 on August 20th, Upbit will offer trading support for these two meme coins, driving significant market activity.

Upbit Adds BRETT and Pepe Coin to Trading Platform

Upbit’s latest announcement marks a key step in diversifying its asset offerings. BRETT, which operates on the Base Chain, and Pepe Coin, running on the Ethereum network, have been added to the platform. These coins aim to attract investors with their unique appeal.

To encourage user engagement, Upbit has waived withdrawal fees for the first 24 hours after deposits and withdrawals begin. This strategic move is expected to boost trading activity as users take advantage of the fee waiver.

Initial Trading Restrictions for Market Stability

To ensure a smooth launch, Upbit has implemented several trading restrictions. In the first five minutes, buy orders will be restricted, and selling prices cannot drop more than 10% below the previous day’s closing price. Additionally, market and reservation orders will face restrictions an hour after trading begins. These measures are designed to prevent market manipulation and create a fair trading environment.

Market Response: Pepe Coin and BRETT See Price Surges

The market reacted positively to the news, with Pepe Coin experiencing a 12% price increase, trading at $0.000008088 at press time. A report by Coin Gape suggests that PEPE could see further gains, potentially rising to the $0.00002250 level—a 200% increase from its current price.

Similarly, BRETT saw a 30% surge, reaching $0.1031 shortly after the trading support announcement. The rapid price movement indicates growing optimism among traders about the future potential of these meme coins.

Historical data from Upbit shows that BRETT’s price was $0.07887 USDT at the previous day’s close, rising to $0.08394 USDT just before the announcement. This illustrates the immediate impact of Upbit’s listing on these digital assets.

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Press Release

Binance Lists Toncoin: TON Price Surges Ahead of Spot Trading

by Ouess
written by Ouess

Binance, the world’s leading cryptocurrency exchange, has announced the upcoming listing of Toncoin (TON) for spot trading on August 8, 2024.

This move has already driven a 12% surge in TON’s price, highlighting the market’s excitement. Investors are eagerly anticipating the new trading pairs, which include TON/BTC, TON/USDT, and TON/FDUSD.

Impact of the Listing on TON

The announcement has significantly boosted TON’s market presence, even though the initial price surge has slightly corrected to 6.9%. Binance’s decision to waive the standard listing fee, setting it at 0 BNB, shows strong confidence in Toncoin’s potential. Additionally, TON will receive a “seed” tag, marking its status as a newly listed asset on the platform.

To prepare for the trading launch, Binance has already opened deposits for TON, allowing users to transfer their tokens. Withdrawals will be enabled 24 hours later, starting on August 9, 2024, at 10:00 UTC.

Significance for the TON Ecosystem

The spot listing on Binance, one of the largest cryptocurrency exchanges globally, marks a major milestone for the TON ecosystem. This development is expected to boost TON’s liquidity, visibility, and overall market exposure, potentially driving further growth and adoption in the future.

Binance’s Recent Developments Amid Expansion

While expanding its offerings, Binance is also facing regulatory challenges. The Indian government recently issued an $86 million tax bill to the exchange, related to Goods and Services Tax (GST). Despite these headwinds, Binance Labs, the venture capital arm of Binance, continues to invest in promising projects. Recently, it invested in Solayer, a leading restaking network on Solana, aimed at enhancing on-chain dApps and network security.

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Altcoin

ONDO Token Soars 8% After OKX Listing Announcement

by Ouess
written by Ouess

Ondo Finance’s native token, ONDO, surged nearly 8% today following the announcement of its spot market listing on a prominent crypto exchange.

Major Listing Boosts ONDO Price

Coinbase-backed Ondo Finance has garnered significant investor interest, securing a major spot market listing on the globally renowned CEX, OKX. The announcement led to a nearly 8% rally in ONDO’s price, sparking discussions among crypto market participants.

OKX Announces ONDO Listing

On July 29, OKX officially revealed plans to list the Ondo Finance token on its spot market, paired with USDT (ONDO/USDT). Trading began today at 8 AM UTC, with deposits opening an hour earlier at 7 AM UTC.

Ondo Finance’s DeFi Platform

Ondo Finance is a DeFi platform specializing in the tokenization of real-world assets (RWA). The project’s tokenomics and distribution are as follows:

  • 5.21 billion for ecosystem growth
  • 3.3 billion for protocol development
  • 1.29 billion for private sales
  • 198 million for community access sales

ONDO Price Rallies

As of writing, the ONDO token has soared 7.68%, trading at $1.04. The 24-hour lows and highs were $0.9639 and $1.05, respectively.

Derivatives Data Indicates Further Growth

According to Coinglass, the Ondo Finance futures open interest (OI) surged 10.52% to $146.88 million, indicating further inflow of money into the crypto. This listing, combined with recent market stats, has shifted market sentiment to an optimistic outlook.

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Altcoin

Banana Gun (BANANA) Token Surges to New All-Time High

by Ouess
written by Ouess

Banana Gun (BANANA), a Telegram bot that helps users purchase tokens on the Ethereum Network, experienced a massive bullish move yesterday. The token crossed its major hurdle of $60, reaching a new all-time high (ATH) of $75.73. This surge was fueled by a sharp volume increase of over 1436%, following the news of its Binance listing.

Strong Uptrend and Chart Patterns

BANANA was already in an uptrend, forming a rounding bottom pattern on the chart. After three months of range-bound moves and multiple attempts by the bulls to cross the $60 hurdle, sellers failed to hold the cluster this time. This resulted in a new ATH.

Bullish Indicators and Potential Upside

A long bullish marubozu candlestick was observed on the daily chart, accompanied by a massive volume spike. This signifies accumulation and the potential for further gains. As long as the token stays above the $60 mark, the breakout rally remains intact. Analysts predict that the bulls could reach the $100 mark this month.

Current Performance of BANANA

At press time, BANANA is trading at $68.70, reflecting an intraday surge of 20.79%. It has a monthly return ratio of 47.20% and a yearly return of 437.20%, indicating a strong uptrend. BANANA/BTC is at 0.00107 BTC, and the market cap is $178.11 million. Analysts are neutral but suggest that BANANA may resume its bullish wave and reach $100 soon. The token is ranked 248 with a total supply value of 8.90 million, and a fully diluted market cap of $611.47 million.

Source : Santiment

Should You Buy BANANA at Its Peak?

Despite reaching a new ATH, buying momentum remains strong with more upside potential. Buyers are set to push the breakout rally towards the $100 mark soon. The rising RSI, currently at 78, indicates strong upward movement and consistent buying pressure. The MACD indicator shows green bars, signaling a bullish crossover. According to the Fib extension tool, the upcoming targets beyond the ATH are $88 and $100.

Surge in Active Addresses

The demand for BANANA has significantly increased, with active addresses rising by over 34% to 1,455. This surge reflects growing interest and demand for the token. Social dominance data also indicates major speculative moves, with investors actively discussing BANANA’s price action on social media.

Support and Resistance Levels

The immediate support levels for BANANA are $60 and $55, while the key resistance levels are $78 and $85.

Is Banana Gun (BANANA) Worth Buying?

BANANA has climbed above significant moving averages and is trading in a bullish momentum. The new ATH suggests strong market confidence. Any dips close to the $65 mark should be treated as a buying opportunity to enter into a long trade.

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DeFi

Data Ownership Protocol Token $DOP to Launch on Major Exchanges

by Ouess
written by Ouess

The $DOP token of the Data Ownership Protocol (DOP) will be available for trading on seven major cryptocurrency exchanges starting July 5th, 2024. These exchanges include Bybit, KuCoin, HTX, Bitfinex, Gate.io, MEXC, and WhiteBIT.

Token Listing Details

To avoid confusion with an existing fiat coin on Bybit, the token will be listed as $DOP1. On KuCoin, Gate.io, Bitfinex, MEXC, and WhiteBIT, it will be listed as $DOP.

Growth and Demand

DOP launched its mainnet six weeks ago after a successful testnet phase with 2.67 million users. In the past six months, the DOP ecosystem has seen substantial growth. Over 1 million DOP wallets have been opened, and assets worth more than $10 million have been encrypted using the protocol, highlighting the rising demand for user-centric data ownership solutions.

Vision and Functions

“$DOP is the token of Data Ownership Protocol, a project that seeks to balance transparency and privacy on the blockchain, putting users in control of their data. The listing of our utility token marks a significant milestone and enhances our vision for the future of data ownership. We are thankful to our supporters and community who have believed in our mission from day one,” said Kohji Hirokado, co-founder of DOP and ex-core member at Cardano.

Currently, the $DOP token has two main functions: facilitating fee payments and granting community rewards. Using the protocol’s data ownership features incurs fees payable in DOP tokens, creating native demand for the token.

Incentives and Staking

This system incentivizes the retention of DOP tokens while implementing a deflationary mechanism through fee burning. It also rewards network supporters via staking distributions. To date, 210 million DOP tokens have been allocated for staking rewards, with over 1.1 billion DOP tokens already staked.

Exchange Milestone

The listing announcement follows Bybit’s rise as the world’s second-largest cryptocurrency exchange by trading volume, surpassing Coinbase and trailing only Binance. Bybit’s market share doubled from 8% to 16% since October 2023.

Future Plans

To outline plans for the second half of 2024, DOP released a new roadmap following Q1’s success. The plan includes a $5 million developer grant program, expanded protocol capabilities, and deployment on EVM-compatible chains beyond Ethereum, reducing gas fees and reaching more users.

Additionally, the new developer SDK will enable developers to easily integrate and build dApps within the DOP ecosystem. Other goals aim to enhance user security for managing NFTs by expanding functionality beyond ERC-20 tokens to include encryption and decryption of NFTs.

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Memecoin

Wen ($WEN) Gets Listed on KuCoin!

by Ouess
written by Ouess

WEN the new meme coin in the Solana ecosystem, launched by Jupiter, brings exciting and fresh updates

Wen ($WEN) will be available on KuCoin!

Please take note of the following schedule:

  • Deposits: Effective Immediately (Supported Network: SOL)
  • Trading: 9:00 on January 30, 2024 (UTC)
  • Withdrawals: 10:00 on January 31, 2024 (UTC)
  • Trading Pair: WEN/USDT

In the crypto sphere, the question “Wen token?” is a familiar refrain with rarely satisfying answers. However, the launch of the WEN token is now a reality, thanks to Solana decentralized finance aggregator Jupiter. The long-awaited meme coin made its debut on Friday through Jupiter’s launchpad, providing concrete details for a token launch that had been teased in recent weeks. The $WEN token release is a collaboration between DeFi/NFT protocol Ovols and Jupiter’s innovative token launchpad.

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