Monat: April 2025

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Conor McGregor’s $REAL crypto token flops, raising only $392K

  • Token backed by Animoca Brands and KuCoin Labs.
  • Refunds promised to all investors as presale fails.
  • RWG says the project will continue despite setback.

The recent fundraising failure of Conor McGregor’s $REAL token has sparked broader questions about celebrity-backed cryptocurrencies amid declining interest in meme coins and unstable market conditions.

Despite promotion from the MMA star to his 57 million followers and claims of support from Animoca Brands and KuCoin Labs, the project raised only $392,315 in USDC during a 28-hour sealed-bid auction, missing even the minimum $1.008 million target.

With just 668 participants, the developers at Real World Gaming DAO (RWG) have now promised full refunds and confirmed that the presale does not mark the end of the project.

$REAL presale misses $1M goal

The $REAL token presale was set up to sell 60 million tokens, representing 3% of the total 2 billion supply. At a starting bid price of $0.06, the fully diluted valuation was projected at $120 million.

However, with the minimum raise of $1.008 million unmet, the team confirmed the auction had failed and all funds would be returned to participants.

The presale concluded on April 6, attracting only a fraction of expected investor interest. RWG noted that 668 users took part in the auction, raising a total of just over 10% of the broader $3.6 million target.

Celebrity support falls flat

Despite Conor McGregor’s backing, which included posts across X and Instagram to millions of followers, the token failed to gain significant traction.

McGregor had promoted the project as part of RWG’s gaming and entertainment platform, where $REAL was positioned as a utility token tied to his brand.

According to RWG, the token was meant to be integrated into McGregor’s wider business initiatives.

Supporters included notable Web3 names like Animoca Brands and KuCoin Labs.

However, the promotional campaign coincided with a general decline in interest in celebrity-endorsed tokens and meme coins, particularly following recent controversies involving similar launches.

Social media users and crypto analysts also expressed scepticism, contributing to a lack of participation.

Crypto market adds pressure

The $REAL token launched during a turbulent time for the crypto sector.

Last week, Bitcoin prices declined, US equities pulled back, and meme coin enthusiasm faded after several weeks of rapid speculation.

As investor sentiment turned more risk-averse, new launches—especially those with meme or celebrity ties—struggled to attract attention.

The timing may have played a crucial role in the poor presale outcome, as the crypto market has seen considerable volatility across multiple asset classes.

The RWG team has not yet shared whether a future presale or adjusted strategy is in the works.

Refunds issued, but project remains active

In the wake of the underwhelming raise, RWG issued a public statement confirming that the project is not being abandoned.

Although all participants will receive full refunds, developers suggested that new plans will be announced soon.

The DAO said the failure to meet the fundraising goal was a temporary setback.

While $REAL’s roadmap remains unclear, the team maintains that the project’s ambitions are ongoing.

No revised launch schedule or alternative fundraising strategy has been disclosed at the time of writing.

The post Conor McGregor’s $REAL crypto token flops, raising only $392K appeared first on CoinJournal.

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Whale loses over $106 million as Ethereum price crashes

  • Whale loses $106M in Ethereum (ETH) liquidation on Sky due to a 14% price drop.
  • Crypto market sees $1.36B in liquidations, affecting 441,856 traders.
  • Trump’s tariffs and economic uncertainty drive market sell-offs.

An Ethereum whale on the decentralized finance (DeFi) lending platform Sky, formerly Maker, has been liquidated following the crash of the price of Ethereum (ETH).

This whale lost 67,570 ETH, valued at approximately $106 million, following the sharp decline in ETH’s market price as the crypto market melts down following President Donald Trump’s ‘Liberation Day’ tariffs.

The Ethereum whale lost 67,570 ETH to liquidation

The whale’s downfall came as ETH’s price plunged 14% on April 6, dragging the collateral ratio of their position down to 144%.

Unable to maintain the necessary buffer, Sky liquidated the entire 67,570 ETH stash, wiping out over $106 million in value.

Notably, Sky operates as a DeFi lending platform where users can deposit cryptocurrency like ETH as collateral to borrow DAI, a stablecoin pegged to the US dollar.

To mitigate the risks posed by crypto’s volatility, Sky enforces an overcollateralization requirement. This means borrowers must lock up significantly more value in ETH than the DAI they borrow.

When collateral values dip below this threshold, the system triggers liquidation, seizing the assets to repay the loan.

The whale’s liquidation is not an isolated event but part of a seismic shift rattling the cryptocurrency landscape.

Over the past 24 hours, the crypto market has seen 441,856 traders liquidated, with the total liquidations coming to $1.36 billion, according to Coinglass.

The liquidations come as cryptocurrency heavyweights like Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE) reel from double-digit losses.

Bitcoin, for example, has slipped below $75,000, a steep fall from its recent peak near $90,000, signaling widespread distress across the sector.

With the sharp BTC price drop, a wrapped Bitcoin whale has been liquidated four times, losing over $19 million in less than 50 days.

Another major player, holding 56,995 wrapped ETH worth roughly $91 million, teeters on the edge of liquidation on Sky.

Trump’s tariffs cause market turmoil

The current crypto market downturn comes as Donald Trump’s “Liberation Day” and threats of global retaliatory tariffs stoke economic unease.

The tariffs have triggered a sell-off in traditional stock markets, spilling over into crypto as investors flee riskier assets.

The mounting fear of a looming financial crisis has only deepened the gloom enveloping digital currencies.

Analysts are scrambling to map out what lies ahead, with Charlie Sherry of BTC Markets pointing out that Bitcoin has lost its $79,000-$80,000 support zone, leaving $72,000—the pre-election high—as the next critical floor.

Geoffrey Kendrick from Standard Chartered cautions that Sunday’s crypto tremors could foreshadow a rough Monday for stocks, hinting at deeper interconnections between markets.

However, glimmers of hope persist, with Sherry positing that a reversal in Trump’s policy stance or an emergency move by the Federal Reserve, such as slashing interest rates, might buoy the market.

Recently, traders ramped up bets on Fed intervention to avert a US recession, a step that could pump liquidity into the system and offer crypto a lifeline.

As the crypto world braces for what’s next, caution remains the watchword for those navigating this turbulent terrain.

The post Whale loses over $106 million as Ethereum price crashes appeared first on CoinJournal.