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Home > News
Published: 29/03/2024
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Author: Leexim
Dogecoin Aims for $1 with Surging Transaction Volumes
Dogecoin experienced a price surge fueled by increasing transaction volumes. Nevertheless, sentiment towards the DOGE token notably declined during this timeframe.
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The price of Dogecoin (DOGE) has experienced a significant increase in recent weeks, even though the overall market has experienced a lot of volatility. One of the possible causes of this phenomenon is the sharp increase in online transaction volume.
Surge in volume
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Data from Santiment shows that Dogecoin’s trading volume has increased significantly, from 1.22 billion to 9.20 billion within 48 hours. At the same time, the overall speed of movement around DOGE has also increased. This suggests that the number of DOGE transactions has also increased in recent days, possibly adding further impetus to DOGE’s recent rally.
Additionally, the number of DOGE holders is also increasing. This suggests that the recent price increase may have come from new market entrants, rather than from the accumulation of previous DOGE holders.
Interest in DOGE is shown by the many new addresses appearing, indicating its popularity in the cryptocurrency community is increasing. However, there are other factors that could hinder DOGE’s future growth.
Analysis of data from Santiment shows that the number of daily active addresses on the Dogecoin network has decreased significantly over the past few days.
Dogecoin DOGE 16.27.17 28 Mar 2024
Source: Santiment
Some challenges ahead
The decline in activity on the network shows waning interest in Dogecoin’s overall ecosystem. If this interest continues to decline, there could be serious consequences for DOGE in the long term.
Another challenge that could affect DOGE is the volume of social activity surrounding the cryptocurrency. Since DOGE is a type of memecoin, its price is largely driven by activity on social networks.
Related: Elon Musk Continues to Promote Dogecoin
Latest data shows that the volume of social activity around DOGE has decreased significantly over the past few days. In addition, social sentiment around this cryptocurrency also decreased.
Dogecoin DOGE 16.26.44 28 Mar 2024
Source: Santiment
This means that the number of positive comments about DOGE has decreased, while the number of negative comments has increased. These factors may affect DOGE’s ability to recover.
Furthermore, the memecoin sector has seen significant growth over the past few months, both in high and low market capitalization areas. Memecoins such as PEPE and WIF have gained immense popularity and gained significant ground in the sector. The Solana memecoin craze has also attracted a large number of users. This could reduce DOGE’s liquidity and returns in the future.
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Home > News
Published: 29/03/2024
-
Author: Kane
Binance Announces Listing of Athena (ENA) on Launchpool
Binance exchange announces its 50th launchpool project, Athena (ENA), a decentralized protocol issuing stablecoin built on Ethereum.
Azcnews Breaking
Binance has just announced its 50th project on Binance Launchpool – Ethena (ENA), a synthetic dollar protocol.
Users will be able to stake their BNB and FDUSD in separate pools to farm ENA tokens for three days, with farming starting from March 30, 2024, at 00:00 (UTC).
Subsequently, Binance will list ENA on April 2, 2024, at 8:00 (UTC) and open trading with ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY trading pairs. The Seed label will be applied to ENA.
Details of the ENA Launchpool:
Token Name: Ethena (ENA)
Maximum Supply: 15,000,000,000 ENA
Launchpool Token Reward: 300,000,000 ENA (2% of maximum supply)
Initial Circulating Supply: 1,425,000,000 ENA (9.5% of maximum supply)
Smart Contract Details: Ethereum
Staking Requirement: KYC required
Hard Cap per Hour per User:
333,333.33 ENA in the BNB pool
83,333.33 ENA in the FDUSD pool
Supported Pools:
Stake BNB (website will be available in about 5 hours): 240,000,000 ENA reward (80%)
Stake FDUSD (website will be available in about 5 hours): 60,000,000 ENA reward (20%)
Farming Time: From March 30, 2024, at 00:00 (UTC) to April 1, 2024, at 23:59 (UTC).
Register for a Binance account here to start trading.
Related: Binance Announces Delisting of DREP, MOB, PNT
Introduction to Athena
Interface Athena
Interface Athena
Ethena Labs is a decentralized protocol issuing stablecoins built on Ethereum, providing a stablecoin solution independent of traditional banking systems. The project will offer savings tools with a new USD pegged token called Internet Bond.
Ethena’s stablecoin (USDe) is a delta-hedging strategy-based stablecoin solution. USDe will be fully transparently collateralized on the blockchain and can be freely used across different DeFi applications.
With this model, Ethena promises to deliver a flexible, transparent, and entirely decentralized stablecoin solution, while also providing attractive savings tools through the Internet Bond. Leveraging revenue sources from LSTs and derivative markets allows the project to generate attractive returns for users without relying on centralized banking systems.
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#athena
#Binance
5.0/5
(1 vote)
Avatar of Anonymous
Anonymous
29/03/2024 at 5:33 am
Hi, please how can Nigerians participate in this amazing project? Thanks
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