#token

Elon Musk has once again pumped DOGE. The token surged by 4.1%. Meanwhile, the legal battle over Musk's alleged manipulation of Dogecoin rages on, with his attorney denying any involvement.

The Sei team has initiated token claims for those who participated in the testnet early on. However, the meager bonuses received have left many reevaluating their decision to engage in future airdrops, especially for Tier-2 or Tier-3 projects. Rewards were disappointingly scant, with most individuals earning only a nominal amount for blockchain testing. The SEI token price decreased by 20%, possibly attributed to either the overnight downturn in the crypto market or the airdrop itself. P.S.:To claim your tokens, the Compass wallet is essential, and some regions might require a VPN.

The SEI token, having just been released, now finds itself in the 85th spot in terms of market capitalization, as reported by Coinmarketcap. It's also making its presence felt in daily trading, occupying the seventh position with a volume of $1,6 billion. While current metrics paint a promising picture for the project, it's worth noting that the cryptocurrency arena frequently sees such developments. Therefore, it's wise to approach this news with measured optimism.

Stated to be a staggering 10 times faster than Solana, the network accomplishes transaction finality in just 250 milliseconds. Trading of the blockchain's native token (SEI) has started on different centralized exchanges, and it's now valued at approximately $0.19. There's also news of an airdrop, but claiming will be permitted only after the "initial warm-up period." The time frame for this warm-up has not yet been revealed.

The XRP correction has offset the entire growth seen after Ripple’s victory over the SEC. The token had skyrocketed by 73% within just 8 hours of the court decision, setting a new annual high.

Currently, Mantle DAO is evaluating a proposal that would prohibit the conversion of BIT tokens held by FTX Group into the new MNT token. Previously, Alameda Research, a branch of the FTX Group, swapped 3.4 million FTT tokens for a staggering 100 million BIT tokens, which equated to around $43 million. Yet FTX's descent into bankruptcy prompted DAO members to introduce this proposal. MNT is a token that was launched as Mantle's L2 mainnet went live. The blockchain was established by the Bybit exchange, which initiated the merge of BIT (BitDAO) and MNT tokens. Controversies aside, there's robust support for this proposal within the Mantle enclave, spotlighting the overarching investor community's interests.

Between mid-July and Base’s public introduction in August, more than 500 scam tokens, like BASEPEPE (BPEPE) and Baby Yoda (YODA), were deployed on the blockchain, as reported by Solidus Labs, Around 300 of these tokens enabled their creators to generate an unlimited number of coins, unbeknownst to Base users, significantly impacting the tokens’ values. Moreover, about 60 tokens prevented buyers from reselling them on exchanges. The scam tokens collectively generated approximately $3.7 million in trading volume and yielded around $2 million in profits, according to Solidus.

RocketSwap, a DEX on the Base Layer 2 network, suffered a hack, losing 471 ETH ($862,000). The team identified lapses, including offline signatures during launchpad deployment and storing private keys on the server. While some accused the team of a potential rug pull, RocketSwap blames a third-party hacker who brute-forced a server to extract private keys. Post-hack, the hacker moved assets to Ethereum, creating a meme token, "LoveRCKT", which saw a brief price surge on Uniswap before plummeting.

A year has passed since WhiteBIT's exchange token was unveiled on August 14th. In this brief time, the team behind it didn't just rest on their laurels; they launched a blockchain, making WBT's first anniversary a celebration of a genuine coin! Facing the challenges of a prolonged bear market head-on, WBT swiftly carved out its own space, gaining a legion of ardent supporters. Its market standing? A noteworthy triple of its inaugural IEO pricing and a 5th rank amidst centralized exchange tokens, as chronicled by CoinGecko. We salute this shining star and hope for further ascent, delighting all crypto enthusiasts who set the level!

Aptos Labs is set to work with Microsoft to infuse its blockchain products, including fresh developments, with artificial intelligence. Aptos Assistant, a chatbot, is one such innovation that educates users about the Aptos ecosystem and assists developers in crafting smart contracts and decentralized apps. A 15% rise in the APT token's value followed the announcement of the collaboration.

Kaiko Research’s data highlights reduced engagement in prominent tokens: “AXS, the governance token of the Axie Infinity ecosystem is down more than 90% since early 2022 and SAND, MANA and GALA tokens have seen a a similar drop in value.” Analysts point out that monetary incentives were a primary motivator for users, but these platforms faced challenges in maintaining their user base due to diminishing in-game rewards.