Monat: Juli 2024

Key takeaways

• Solciety has raised over $700k in two weeks as more investors enter the project.
• PolitiFi coins are gaining traction amongst investors ahead of the United States presidential elections in November.

What is Solciety?

The cryptocurrency market has been in a bearish mode this week, with the prices of most coins and tokens down by more than 5%. However, that hasn’t dampened investments in new crypto projects, especially those in the PolitiFi space.

One project that is attracting investors is Solciety. It is a meme coin that seeks to become a leader in the PolitiFi meme ecosystem. Solciety intends to become the very first political party of degens.

Per the development team, the meme coin is pegged to the only real-world currency: attention. With Solciety, users would have a platform dedicated to spreading the degen gospel across the Twitterverse. 

Solciety to enable users to create meme coins

Meme coins have become an important part of the crypto ecosystem. Shiba Inu, Dogecoin, Dogwifhat, Bonk, and Pepe are some of the highest-ranking cryptocurrencies and they are all meme coins. 

Solciety wants to join this rank by providing utility to investors. It will offer the Meme Campaigner, a tool that allows users to create their own meme coins. With the Meme Campaigner, users will have access to over 200 traits, backgrounds, and fonts.

The tool would enable users to create and share memes on Twitter to earn points. Users will earn one point for every meme shared, the points will be collected and the top ten users will earn presale tokens.

According to the development team, some of the funds raised via the presale will be used to develop new tools such as Solciety’s AR. The Augmented Reality tool will allow users to view their weird and wonderful meme creations layered over the real world.

Solciety will also develop its AI tool and intends to launch it in the first quarter of next year. The AI tool will make it possible for natural language programming to autogenerate captions and translate memes into other languages. Thus, easing the meme creation process for users.

Solciety’s presale surpasses $700k

The Solciety presale is less than two weeks old and has already crossed an important milestone. So far, the presale has raised $722,954. This represents almost a 100% surge in less than a week. 

Early investors enjoyed a heavily discounted price of $0.000963 in the first stage. The presale is currently in its fourth stage, with the SCLTY token going for $0.002222. The SLCTY token’s price will increase every 72 hours, with early investors enjoying a 125% increase in price before the presale ends. 

The team has allocated 30% of its tokens to presale investors, with a total of 3 billion tokens available for presale. 20% of the total token supply has been allocated to marketing and 10% to community rewards and incentive programs. Upon launch, liquidity will account for 17% of the total supply. 

Is buying the SLCTY token now a wise investment?

Historically, purchasing coins during presale is one of the best forms of investment in the crypto space. Solana was sold for $0.22 during its presale in 2018 and has gone on to deliver thousands of percentages over the last six years.

Solciety’s presale could be the only time investors can purchase the tokens at a discount. The coin is launching on Solana, which is now home to some of the crypto ecosystem’s leading meme coins and DeFi protocols thanks to its transaction speed, security, and transparency.

Solciety could also become a leading PolitiFi coin as investors pay attention to the upcoming presidential election in the United States. In terms of utility, Solciety is exciting thanks to its ability to allow users to create their meme tokens and share them on social media platforms. Its native SCLTY token could become a leading meme coin with the right level of adoption.

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• Blast Token plunges amid market downturn and declining Total Value Locked.
• Blast Foundation plans Phase 2 rollout with focus on full-stack ecosystem development.
• Delayed integrations and market skepticism challenge Blast’s path to recovery.

Blast token price has plummeted despite the promising future plans laid out by the Blast Foundation as it focuses on the next phase of Blast Chain.

This drop in the tokens value has raised concerns among investors, especially seeing that it coincides with the dropping Blast’s total value locked (TVL).

Blast token has dropped by 31% in a week

Over the past week, Blast Token has experienced a sharp decline, plummeting by 31% in its valuation. At press time, BLAST was trading at $0.01724.

This stark downturn comes as a surprise to many within the crypto community, considering Blast’s rapid ascent in previous months. The token’s price, which reached an all-time high of $0.02943 on its opening day (June 27, 2024), has now retraced significantly, currently trading 37% below that peak.

Market analysts attribute this decline to a combination of factors, including broader market volatility and specific challenges facing the Blast ecosystem.

Investor sentiment surrounding Blast has also notably worsened, exacerbated by a 21% decrease in Total Value Locked (TVL) over the same period.

The TVL reduction underscores a decline in confidence among users and liquidity providers, reflecting broader concerns about the platform’s sustainability and future growth prospects.

The recent performance of Blast’s native token marks a stark contrast to its initial bullish reception, highlighting ongoing uncertainties and potential hurdles for the Blast ecosystem to address moving forward.

Blast Foundation plans for the next phase of Blast Chain

Despite current setbacks with the Blast token, Blast Foundation remains steadfast in its commitment to advancing the Blast Chain project.

With Phase 2 on the horizon, the Foundation aims to pivot towards a comprehensive full-stack approach, akin to tech giant Apple’s ecosystem strategy.

This ambitious phase will see the development of dedicated desktop and mobile wallets tailored for cryptonatives, aiming to surpass existing user experiences offered by platforms like Metamask.

Phase 2 is positioned as a critical juncture for Blast, aiming not only to enhance user accessibility and functionality but also to shore up community confidence through targeted incentives and development milestones.

The Foundation’s roadmap, outlined alongside Blast Token’s launch, promised significant integrations and advancements, including ERC-1155 integration, Artblocks integration, and the introduction of the “F-Switch.”

However, delays in these promised features have led to criticism and heightened scrutiny from stakeholders and industry observers alike.

Looking ahead, the success of Phase 2 will hinge on the Blast Foundation’s ability to navigate current challenges and effectively execute its strategic vision. The Foundation’s emphasis on building a robust, integrated ecosystem underscores its commitment to long-term sustainability and adoption within the burgeoning onchain economy.

As Blast continues to evolve amidst turbulent market conditions for its native token, stakeholders remain cautiously optimistic about its potential to rebound and carve out a niche in the competitive cryptocurrency landscape.

The post Blast token in a free fall as Blast Foundation focuses on phase 2 appeared first on CoinJournal.