#tokens

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!

Casting their gaze five years into the future, investment company Bernstein speculates the stablecoin market will burgeon to a staggering $2.8 trillion. A key catalyst for this boom? The widespread adoption of stablecoins by financial platforms, a trend set to amplify the circulation of these tokens.

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.

Kenya’s Interior Minister Kithure Kindiki announced the suspension of Worldcoin’s local activities in the country. Relevant agencies are conducting inquiries and investigations to determine the authenticity and legality of the activities, ensuring the absence of risks to Kenyans. The video shows people lining up to have their irises scanned, with the promise of receiving 25 free Worldcoin tokens ($56) in Kenya. We've previously detailed Sam Altman's vision for the Worldcoin project in our article.

CryptoQuant data indicates that there's been a 99% decrease in the number of active addresses, along with a 98% drop in transaction volume. The majority of airdrop recipients (95% of them) opted to sell their tokens, with a significant 80% getting rid of their tokens entirely.

Securitize, a digital asset trading platform, has started tokenizing equity in Spanish real estate investment trust, Mancipi Partners. The tokens will trade on the Avalanche blockchain from September. This marks the first tokenized equity issuance under the European Union’s pilot scheme for distributed ledger technology, supervised by the European Securities Market Authority. Securitize will also undergo a six-month supervision period by Spain’s National Securities Market Commission (CNMV). Securitize's CEO, Carlos Domingo, believes the move will significantly benefit European businesses, providing new avenues for capital raises and potential tax benefits.

The Snapshot platform has recently showcased a proposal: allocate 1 million FRAX tokens from the treasury and use them to buy CRV tokens. This, according to the initiative's creator, will fortify the community's foothold in DeFi for years to come and enhance liquidity for pairs involving FRAX.

Following a probe by the Twitter user OnchainPenguin, a dubious $9.5 million transaction was tied to a fresh acquisition proposal. The inflow to Hodlnaut's wallet was 2221 times higher than the average. Insights from OnchainPenguin pinpoint this account as the source of rewards to OPNX’s leadership. It seems that Hodlnaut's funds were in some way supporting OPNX's functional outlays,and the trading platform's chiefs might be on a mission to save the virtual currencies FLEX and OX. There's a looming risk that these tokens could nosedive in value if Hodlnaut opts to liquidate its possessions to repay its lenders.

The largest copycat token was launched shortly after the news and managed to amass a trading volume of $2.6 million within just eight hours, experiencing an astonishing surge of 12,000%. However, its price has since significantly dropped. Another noteworthy token, going by the name PepeYieldUnibotSatoshiDoge, also exhibited remarkable growth of 3,000%. Most of these fake PYUSD tokens are probably created as "honeypots."

As Elon Musk occupies himself with the Twitter rebrand, the crypto community is enthusiastically trading tokens that bear association with the well-known platform only through its former name. The TwitterDAO (TWITTER) token is presently priced at $0.0001, despite a rocky start.This rise is attributed to the automatic system's verification and contract audit. Yet, it's vital to bear in mind that such tokens often morph into money-making tools for fraudsters, leading to a total wipeout of the assets belonging to external investors. The recent situation with BALD serves as a stark reminder of this risk.

Chainflip serves as a decentralized conduit for transferring digital assets amongst any blockchains, thereby circumventing the necessity for wrapped tokens. Registrations are slated to continue up until the 28th of August, 2023.

The team behind the largest token on the Base blockchain, Bald, has withdrawn a substantial amount of liquidity from LeetSwap, removing 7,000 ETH and 142 million BALD tokens in a significant transaction. The price of BALD has plummeted to as low as $0.015, experiencing a decline of over 84%. In the past few days, BALD had seen a gain of over 30,000%, even without having an official website or active presence on social media.

Arthur Hayes, Maelstrom CIO and ex-BitMEX CEO, argues that AI-powered Decentralized Autonomous Organizations (DAOs) will revolutionize economic entities, making traditional structures obsolete due to their reliance on human labor and state-enforced contracts. He asserts AI DAOs, unfettered by physical forms and therefore state laws, will use smart contracts on public blockchains for self-governance and service provision. Hayes predicts that DAO capital markets will become the first genuinely global markets and decentralized exchanges will naturally monopolize the trading of DAO-issued tokens. Hayes sees a future trillion-dollar AI-powered economy that would significantly boost the value of blockchains like Ethereum.

The Sui Foundation has cut ties with decentralized exchange MovEx due to a contract breach involving the illicit movement of SUI tokens. MovEx had received 2.5 million SUI tokens (around $1.6 million) for their work on the DeepBook exchange product, under an agreement involving a staged release of the tokens. MovEx, however, broke this agreement by making three transactions of 625,000 SUI to three different wallets without the Sui Foundation's consent or awareness. Following the breach, MovEx's total SUI allotment has been moved to a custodial wallet to ensure the release adheres to the contractual schedule.

The freshly minted line-up of collectible avatars, titled 'Retro Reimagined', is scheduled for a grand unveiling on July 26 at 3:00 pm Eastern Time. In the tradition of previous releases, this series will also make its debut on the Polygon blockchain. Users will have the ability to exchange these Non-Fungible Tokens (NFTs) via various external trading applications On top of that, Reddit has given some tantalizing hints about future modifications coming to its treasure trove of collectible items. In the not too distant future, this store will be directly accessible from the avatar editing interface. At present, the store's offering is somewhat limited, with only a handful of third-generation selections available for purchase, each carrying a price tag of $4.99.