Connect with us

Altcoin

Drift Price Skyrockets 100% To Hit ATH On Major Listing

Published

3 hours ago

on


South Korea’s leading crypto exchange Upbit has announced the listing of Drift token, triggering investor interest to hit an all-time high. DRIFT price saw an explosive rally of 100% to hit a new all-time high after the listing on the exchange. DRIFT’s rapid momentum signals strong potential in the DeFi space. This milestone has solidified Drift Protocol’s position as a major player in the market.

Upbit Announces Drift Listing

According to an Upbit announcement on November 8, the exchange has listed DRIFT token. Users can trade the token in KRW, BTC, and USDT spot trading pairs.

The crypto exchange notified users that deposits and withdrawals are only supported Solana network. Moreover, transaction restrictions including buy limit, minimum sell price restriction, and order type restrictions will apply as earlier.

Drift Protocol, an open-source decentralized exchange on Solana, has made a significant move in the DeFi space. This DRIFT listing follows its previous success with listings on major platforms like Coinbase. With its perpetual futures trading capabilities, Drift Protocol is now poised to attract a wider audience, especially in the growing Asian market.

DRIFT Price Soars 100% in 24 Hours, Hits New ATH

DRIFT price is now trading around $0.90, paring earlier gains to now trade at 86% higher. The 24-hour low and high are $0.4746 and $0.9747, respectively. DRIFT trading volume has skyrocketed by 1000% in just 24 hours, signaling strong investor interest. This growth highlights the significant impact of major listings on token visibility and trading momentum.

The recent listings on Upbit show how it can amplify exposure for emerging crypto assets like DRIFT. Other tokens such as SAFE price surged 88% after listing on Upbit. As listings continue across leading platforms, DRIFT success emphasizes the importance of visibility and accessibility in boosting market appeal.

However, derivatives markets data indicates less interest from traders as DRIFT open interest dropped 8% in the last 4 hours. The red flag signals the price surge may not sustain for a longer period, but it will continue to rebound from the support level at $0.70.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Altcoin

Will OM Price Hit New ATH As Mantra Unveils 50M Airdrop Details?

Published

1 hour ago

on

November 8, 2024

By


MANTRA has announced details of its highly anticipated 50 million $OM token airdrop, sparking excitement across its community of over 350,000 participants. Eligible recipients, including stakers, NFT holders, and active ecosystem members, will receive tokens based on various engagement levels.

Currently trading at $1.39, $OM could see renewed interest and momentum as users claim their rewards. The airdrop scale and distribution strategy have sparked speculation about potential price action in the coming weeks.

MANTRA Unveils Key Details on Massive 50M $OM Airdrop

MANTRA latest 50 million $OM token airdrop has attracted major attention within the crypto community, revealing specific allocations to different groups. The airdrop primarily rewards active participants across various campaigns, including Pre-Mainnet Quests, ATOM staking, and several NFT-based rewards. With over 350,000 users included, the airdrop signals its dedication to community engagement and loyalty rewards, further reinforcing user interest in the $OM ecosystem.

The largest allocation, about 60%, goes to users involved in the KARMA Pre-Mainnet Quests, benefiting the top 124,760 addresses from a participant pool of over 615,000. To ensure fairness, this top RWA coin employed a unique Kurtotic Adjustment for distribution, which lessens allocation discrepancies. Kurtotic Adjustment reduces the influence of extreme values in data, making analysis more accurate and reliable. The adjusted allocation means that 1 $OM equates to approximately 6.797 adjKARMA, offering loyal users greater value for their engagement.

Additional reward pools include 8% for ATOM stakers, rewarding those who supported MANTRA validator node. This group will also benefit from its future initiatives, such as the ATOM/USDC liquidity pool on MANTRA Swap. NFT holders in the Bad Kids, Celestine Sloths, and Pudgy Penguins collections also receive substantial rewards, with fixed $OM allocations per NFT held. This approach solidifies its commitment to its user base while broadening ecosystem adoption.

Can the Growing User Base Push $OM to a New ATH?

The $OM token is currently trading at $1.39. Its price fluctuated between $1.38 and $1.48 in the past 24 hours. Despite a 7% drop in the last week, the token has gained 4% over the past month. Daily trading volume stands at $40 million, showing strong liquidity. The all-time high for $OM is $1.62, suggesting room for growth.

With over 350,000 users participating in the airdrop, demand for $OM is likely to rise. As tokens are distributed, momentum should increase. This could push the price higher and potentially surpass its previous all-time high.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

Altcoin

Meme Coin Whale Records $4M Profit With These PolitiFi Tokens

Published

4 hours ago

on

November 8, 2024

By


Amid a highly market witnessed recently in light of the U.S. elections, a meme coin diamond-hand trader nabbed substantial market attention by making massive profits. On-chain data on Friday indicated that a trader made nearly $4 million worth of profit trading Department Of Government Efficiency (DOGE) meme token. Simultaneously, the same trader made significant profits on MAGA, sparking market discussions over potential investment strategies and future price movements.

Meme Coin Whale Nabs Profit With Meme Coin

According to data from Lookonchain dated November 8, the diamond-hand trader theunipcs.eth made remarkable profits trading Department Of Government Efficiency and MAGA. As per the data, this trader entered into trading the token when its market cap was $2.7 million. Notably, he spent 235 ETH, worth $584K, to buy 33.35M DOGE. This trading strategy aided the diamond hand in making an unrealized profit of $4.12 million.

Meanwhile, data indicated that the same trader also started bagging MAGA at a $3 million market cap. He spent 18.45 ETH, worth $57K, to buy 6.27 billion tokens. This trade mover aided theunipcs.eth in making an unrealized profit of $395K. However, it’s worth mentioning that at this coin’s peak, the trader’s holdings boasted an unrealized profit of $4.33 trillion. Overall, these trades have underscored the highly volatile nature of the meme-themed crypto sector. Other tokens held by the diamond hand, per Etherscan data, were FLOKI and QUBY, among others.

How Are The PolitiFi Tokens Performing?

DOGE price soared nearly 146% in the past 24 hours and is now trading at $0.1971. Its intraday low and high were $0.1863 and $0.2016, respectively. Further, the coin’s weekly chart showcases gains worth 22%, whereas the monthly chart indicates gains worth 78%.

However, MAGA price tanked nearly 9% over the past day and is now sitting at $0.00008149. The coin’s intraday low and peak were $0.00007036 and $0.00009524, respectively.

In another chronicle, Dogecoin witnessed a bull run, aligning with Donald Trump’s win and Elon Musk’s D.O.G.E role under the Republican’s cabinet. CoinGape Media reported that market watchers are even eyeing a $4 price target for the meme token ahead in light of Elon Musk’s D.O.G.E. crackdown on the U.S. Fed. Notably, even the Department Of Government Efficiency token rallies in tandem with this phenomenon. It’s noteworthy that market confusion persists as this coin’s short form resembles the ticker of one of the top meme coins, Dogecoin.

In addition, it’s notable that Binance added Dogecoin to the Smart Arbitrage offering, adding to the market buzz surrounding meme tokens.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

Altcoin

Ethereum Foundation Reveals $970M Treasury in 2024 Report: Here’s More To Know

Published

9 hours ago

on

November 8, 2024

By


Non-profit organization Ethereum Foundation sparked a tidal wave of discussions across the broader crypto market on Friday as it revealed its 2024 report, boasting a treasury of $970 million. Notably, Aya Miyaguchi, the firm’s ED, spotlighted key details such as the current EF teams, EF grantees, and ongoing efforts to enhance the Ethereum ecosystem, underscoring the firm’s advancements. In turn, this report promptly caught the eyes of market participants globally, giving a clear understanding of the firm’s influence across the broader ETH market.

Here’s a brief overview of the EF’s 2024 report which was recently revealed by ED Aya Miyaguchi.

Ethereum Foundation Unveils 2024 Report Revealing Key Details

The Ethereum Foundation’s ED took to X on November 8, revealing the 2024 report while also offering vital insights into the firm’s recent work. As per the non-profit firm’s report, EF contains numerous teams within its branch of operations that contribute to the broader ecosystem.

Teams such as Robust Incentives Group (RIG), Protocol Support, and Devcon offer vital support to network development, per the EF’s report. These teams oversee key aspects such as studying mechanism design and cryptos for Ethereum, processes and perspectives to support its long-term maintenance and hosting events to foster collaboration, education, and promoting ETH’s values.

Further, the ‘EF grants’ also play a crucial role in jacking up work across the ecosystem. These grants are often supported by EF teams as the teams play a role in approval and evaluation. Also, the NPO reveals that it supports organizations that drive ecosystem growth, encompassing entities like Argot Collective, Geodework, L2BEAT, Nomic Foundation, and 0xPARC.

As of October 31 this year, the non-profit organization boasted $970.2 million in treasury. This encompassed $788.7 million in crypto and $181.5 million in non-crypto investments and assets, sparking market discussions.

Intriguingly, the lion’s share of the firm’s crypto holdings remains in ETH, an alarming concern for market participants. Notably, 99.45% of the firm’s holdings evaluates to 0.26% of the coin’s total supply, solidifying market concerns. “The Ethereum ecosystem is supported by billions secured in treasuries belonging to foundations, organizations, and DAOs,” the report added.

EF Foundation Implements Conflicts of Interest Policy

Also, the report revealed that the non-profit firm introduced a conflict of interest policy this year. The aim remains to oversee and set some boundaries for EF team members on how they navigate particular relationships with the broader ecosystem.

The Ethereum Foundation clarified that the policy also remains poised for a review after a year of its introduction for feedback and potential changes. Overall, the report garnered significant attention, underscoring the firm’s influential stance across the broader ETH market.

Meanwhile, CoinGape Media recently reported that the EF announced launching its first short-lived Pectra testnet ‘Mekong.’ This advancement brought further market attention to the organization.

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io