Monat: Juni 2024

• BNB price hit a new all-time high of $716 on Wednesday.
• The Binance Coin’s market cap surpassed $100 billion, with trading volume reaching $3.5 billion.

BNB, the native token of the Binance ecosystem, has skyrocketed to a new all-time high, with its marlet cap rising to over $100 billion.

BNB surges 17% to new all-time high as Bitcoin hits $71,000

On June 5, BNB price increased by more than 17% to hit its highest ever level.  

The gains came amid an overall upside flip for Bitcoin, which rose past the $71,000 mark for the first time since May 21.

As BTC extended recent recovery to above the psychological level, BNB bulls tore past the previous ATH to hit $716 on crypto exchanges.

Having traded at lows of $592 on June 1, 2024, the Binance coin has outshone other top 10 coins by market cap. BNB’s market cap hit $110 billion as the price soared, pushing the cryptocurrency into 4th spot overall behind USDT, Ethereum and Bitcoin. The 24-hour trading volume reached $3.5 billion.

BNB price outlook

BNB’s upward momentum comes as the Binance exchange sees continued resurgence in community sentiment. The platform’s Launchpool is a top offering that has helped BNB holders grab new gems such as the hot Notcoin (NOT) token.

While BNB is trading around $706 at the time of writing, there’s likelihood bulls may target further gains above the $700 level. This outlook will strengthen if buyers push above the initial rejection area around $716.

A break to $750 could encourage bulls, a scenario that has crypto analysts bullish on BNB price. 

The weekly chart on TradingView shows BNB price has jumped 17% in the past three days.

Meanwhile, BNB’s daily chart shows the breakout from the ascending triangle has the RSI in the overbought zone. However, it’s not overextended and the MACD indicator has a bullish bias to suggest buy side pressure remains.

According to Coinglass data, the BNB open interest currently stands at $1.1 billion, with a 24-hour change of +39%.

The post BNB price soars to new all-time high; market cap exceeds $100 billion appeared first on CoinJournal.

• Piggy Bankster (PIGS) launches today on Solana with a 100,000,000 token supply.
• PIGS will employ a fair launch strategy that ensures open price discovery, starting at $0.00012 per token.
• Piggy Bankster’s unique crime-themed narrative aims to build strong community engagement.

The emergence of new tokens in the cryptocurrencies continues to captivate both seasoned investors and newcomers.

Today, the spotlight shines on Piggy Bankster (PIGS), a unique Solana-based meme coin that promises to bring a blend of crime-themed narrative and engaging community interactions to the blockchain.

As Piggy Bankster makes its grand debut, the crypto community is abuzz with anticipation.

What is Piggy Bankster (PIG)?

Piggy Bankster isn’t just another meme coin; it embodies a distinctive persona that sets it apart in the crowded crypto market where the trending meme coins are cat, dog, and frog-themed.

The token is built on the Solana network, known for its high throughput and low transaction costs, making it an attractive platform for new projects.

Piggy Bankster’s narrative revolves around a gangster pig, dubbed Piggy Bankster, who has clawed his way up from the slums of Swine City to become a feared and respected crime boss.

Donning a pin-striped suit, Piggy Bankster exudes both crime and class characters, taking on rivals with ruthless efficiency. He values loyalty above all and rewards those who stand by him, while mercilessly dealing with those who betray his trust.

The story of Piggy Bankster is not merely a gimmick. It reflects a deeper engagement strategy aimed at building a strong community around the token.

With catchphrases like “All I have in this world is my word and my snout. And I don’t break ‘em for nobody,” and “When you mess with the best, you get turned into bacon,” the token’s creators are crafting an immersive experience that appeals to a wide audience.

Piggy Bankster tokenomics at launch

Piggy Bankster is launching with a fully circulating supply of 100,000,000 $PIGS tokens.

The launch is characterized by a fair launch strategy, ensuring that price discovery occurs in an open and transparent manner.

The initial liquidity provided for the token is $12,000, setting the starting price at $0.00012 per $PIGS.

This approach aims to avoid the pitfalls of pre-mined tokens and promises a level playing field for all investors.

The launch event is expected to draw significant interest from the crypto community, eager to see how Piggy Bankster performs in its initial phase.

Piggy Bankster set to compete against popular meme coins

Piggy Bankster enters the market at a time when meme coins are experiencing renewed interest and volatility.

Recently, other meme coins like TRUMP, BODEN, BRETT, POPCAT, and SHIB have shown significant price movements, driven by a mix of community engagement and market speculation.

Super Trump (TRUMP), linked to former U.S. President Donald Trump, has seen substantial volatility influenced by political news as presidential campaigns in the U.S. gain momentum. Its price peaked at over $17 before settling around $13.20, and upcoming political events could trigger further TRUMP price fluctuations.

Jeo Boden (BODEN), associated with current U.S. President Joe Biden, has also experienced a rollercoaster of price changes, currently valued at $0.25. Similarly, political debates and news are expected to continue influencing its price.

BRETT, a frog-themed meme coin, has seen its price surge by 180% over the past month, achieving a market cap of over $1 billion and making it standout in the meme coin space.

POPCAT, a cat-themed token saw its price soar to $0.65 in early May although it has since corrected to $0.50 following endorsements and market trends.

Last but not least, Shiba Inu (SHIB), one of the meme coin pioneers remains a significant player, with its burn rate recently increasing dramatically. The development of its layer-2 solution, Shibarium, continues to advance, promising improved speed and lower fees.

What set’s Piggy Bankster apart?

Amid the stiff competition from already established meme coins, the success of Piggy Bankster will largely depend on its community engagement and the ability to maintain interest beyond the initial launch hype.

However, PIG’s unique narrative and the immersive world it creates offer a strong foundation for building a dedicated community and the developers’ commitment to fair launch principles and transparent tokenomics also adds credibility to the project.

With its strong narrative, community focus, and strategic use of the Solana network, Piggy Bankster has the potential to be a standout player in the world of meme coins.

The post Investors wait with bated breath as Solana-based Piggy Bankster (PIGS) launches today appeared first on CoinJournal.

• Astar Network (ASTR) price jumped nearly 5% after the Astar Foundation published a proposal to burn 350 million ASTR tokens.
• ASTR price reached higs of $0.09.

Astar Network (ASTR) price flipped positive and surged nearly 5% on Tuesday following a new proposal seeking to burn millions of the tokens.

While ASTR continues to struggle with the bearish pressure seen since price hit highs near $0.17 in March, its gains over the last 24 hours have pushed it above $0.09 and could open up a bullish run to $0.1.

Astar Foundation proposes 350 million ASTR token burn

ASTR’s sudden price surge followed a new announcement from the Astar Foundation. On Tuesday, the Astar Network team outlined a proposal that seeks to burn 350 million ASTR tokens.

As often happens across the market, prices reacted higher amid reaction to the proposal. If adopted in coming weeks, the proposal will see Astar remove tokens worth $31 million from circulation.

The burn would account for 5% of the genesis allocation, the foundation noted in its proposal. Astar Network founder Sota Watanabe shared this news on X.

In particular, the tokens to be burned are from the project’s parachain auction reserve. The platform set these tokens aside during Astar Network’s genesis deployment.

When is the Astar Network community vote?

Astar is looking to take this action ahead of the Polkadot’s ‘Agile Coretime’ upgrade, which is set to phase out DOT’s crowdloan mechanism.

According to the proposal, burning these reserve tokens may boost ASTR holders through a reduction in total staked supply. It would mean increased rewards for stakers. Also likely to come out of this is the potential for decreased supply to impact ASTR’s future price.

Astar Foundation says the proposal will go through a three-week community discussion phase before it goes to a vote.

“If there is a consensus, the foundation will proceed to burn the reserve. If not, alternative solutions will be considered for further discussion and voting,” the team wrote.

The post Astar surges amid proposal to burn 350M ASTR tokens appeared first on CoinJournal.