Many memecoins have produced staggering returns since the start of 2024, but their lack of utility and the proliferation of scams have raised questions about their long-term stability.
Tokens News
A crypto token is an asset based on the blockchain of another asset, which is called a coin. Part of the definition of tokens is that they do not run on their own blockchains — a key distinction in clearing up the token vs. coin confusion.
Projects often build solutions on existing networks, such as Ethereum. Ethereum has a coin, called Ether (ETH), running on its blockchain. The majority of the tokens built on the Ethereum blockchain are ERC-20 tokens, or ERC-721 tokens if they are nonfungible tokens, or NFTs.
Each project typically employs its own token, meaning that the token runs on the blockchain on which the project was built. An entity can create a cryptocurrency token for a number of reasons, including use within a broader ecosystem. ICO tokens were popular during the initial coin offering boom of 2017.
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Omni Network’s token price has halved just 18 hours after its test net users and some NFT holders were airdropped the token.
2577The centralized app reached 10 million verified accounts, but critics contend it doesn’t benefit users.
15829Hardhat Chad clarified that he isn’t looking for funds from the foundation; his goal for Ore is to establish a currency, not develop testnet tools.
2916The price of Bitcoin has grown 54% since the start of 2024, and only six altcoins from the top 50 have done any better.
39368Celisa Morin, the lead of Reed Smith’s on-chain crypto group and a former executive at Grayscale, says traditional financial institutions will likely follow BlackRock’s lead in using public blockchains.
4232On-chain data shows that the Ethereum trader has already transferred the tokens to another crypto wallet.
33621Withdrawals from the Solana-based DeFi protocol have reached record levels amid an apparent management meltdown and claims from competitors that it hasn’t met its promises.
5091The Solana memecoin frenzy has seen several tokens rise to multimillion-dollar market capitalizations within days.
10452BlackRock USD Institutional Digital Liquidity Fund, the first tokenized fund launched by BlackRock, can now be transferred to Circle using the USDC stablecoin.
6617After the approval of the Securities Regulatory Commission of Hong Kong, the Hong Kong Stock Exchange needs two weeks to finalize Bitcoin ETF listings.
3785The Deutsche Börse subsidiary is the only central securities depository taking part in the first phase of digital euro preparations.
8192Wormhole’s and Ethena Labs’ recent multimillion token airdrops have been trending on social media, according to Santiment’s social dashboard.
2911Nayms, a blockchain-based tokenized insurance marketplace, has become the latest participant of Cointelegraph Accelerator.
10636With several AI tokens registering triple digital growth in 2024, observers are questioning whether many of these projects have merit.
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