DOGS and PEPE fall short on utility, could struggle to compete with Rexas Finance (RXS) in long run

While tokens like DOGS and PEPE Coin have garnered attention for their community-driven appeal, their lack of practical utility may present challenges in the long run. In contrast, Rexus Finance (RXS) stands out with its unique approach to tokenizing real-world assets (RWAs) and its potential for significant growth based on tangible use cases.

Rexus Finance: Leading the Way with Real-World Asset Tokenization

Rexus Finance distinguishes itself by focusing on the tokenization of RWAs, such as real estate and art, offering fractional ownership, enhanced liquidity, and broader access for investors. This approach targets the massive RWA market, which is estimated at $16 trillion, providing a more concrete use case compared to the speculative nature of many blockchain projects.

With promising market growth forecasts and an effective presale model, Rexus Finance has the potential to continue developing and innovating, making it an attractive option for long-term investors seeking stable returns and high profitability.

Short-term Vs Long-term Growth

Unlike RXS, tokens like DOGS and PEPE Coin have a more limited scope for long-term growth, because they rely so heavily on community engagement and meme culture. These tokens lack the solid, real-world utility that is usually needed to sustain long-term growth. While they may experience short-term spikes in value, and in some cases those spikes may be huge, their reliance on hype and speculation raises concerns about their staying power.

RXS, on the other hand, offers a more long-term proposition. By focusing on the tokenization of high-value RWAs, it provides investors with true real-world utility, making it better equipped to withstand market fluctuations and deliver lasting value.

Rexus Finance vs DOGS

The DOGS token, with its emphasis on community-driven hype, lacks the utility needed to compete with projects like Rexus Finance in the longer-term. While DOGS and similar meme-based cryptocurrencies have carved out a niche in the market, they are primarily speculative investments without real-world applications. This limits their potential for long-term success.

In contrast, Rexus Finance has established itself as a serious contender in the cryptocurrency space by focusing on tokenizing RWAs, including real estate and art, for investment and liquidity purposes. This strategy targets the $16 trillion RWA market, offering investors a clear, realistic use case beyond the speculation that often surrounds other cryptocurrencies.

With significant market cap growth projections and a well-structured presale, Rexus Finance is positioned for continuous growth and development. This long-term vision makes it a far more appealing investment opportunity compared to tokens that rely on short-lived community hype.

Rexus Finance vs. Pepe Coin: Real Use Cases vs. Memes

Pepe, another meme-based cryptocurrency, has gained popularity largely through social media and word of mouth. However, like the DOGS token, it lacks practical applications that would support long-term growth. While it may enjoy impressive short-term success, its reliance on meme culture limits its potential for sustained value.

In contrast, the fact that Rexus Finance has been designed with utility in mind, and its ambition to serve the $16 trillion RWA market, provides a long-term growth trajectory that extends beyond mere speculation.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

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Ethereum Foundation sells 300 ETH as price hits $2.5k

  • The Ethereum Foundation has sold a total of 950 ETH worth over $2.2 million in the past three weeks.
  • On Sept. 20, the non-profit sold 300 ETH for over $760,000 as Ethereum price rose to above $2,500.

The Ethereum Foundation has once again dumped more Ether tokens, this time offloading 300 ETH worth more than $760,000.

According to on-chain data, the foundation sold the 300 ETH on Friday for an average of $2,543 – which is a level that is 5% up on intraday lows of $2,440.

In recent days, the organization had put some breaks to its selling spree. Before the brief lull, the Ethereum Foundation had become one of the top ETH holders to dump as prices stalled. But on Sept. 20, the dump resumed.

EF has sold Ether every 4-7 days

On Sept. 6, the Ethereum Foundation sold 100 ETH for $226,868. It’s a sale that brought the foundation’s increased selling across three weeks to 650 ETH, with these valued at about $1.5 million.

According to on-chain insights platform Spot On Chain, the non-profit organization has sold 950 ETH since the start of September. These sales amount to over $2.2 million, with the average sale price being $2,392.

The Ethereum Foundation has sold the native Ethereum token every 4-7 days, on-chain data shows.

In May 2024, the Ethereum Foundation sold 1,000 ETH for over $3 million, with year-to-date totals at the time reaching 1,766 ETH sold for over $4.8 million.

The latest dump, another big one, comes after Ethereum price surged from under $2,200 levels reached earlier this month.

At the time of writing, ETH traded around $2,552, roughly 5% up in the past 24 hours and +8.5% in the past week.

These gains have come as Bitcoin price surged to above $63,000 after this week’s Fed moved to cut interest rate by 0.5%.

Earlier, CoinJournal highlighted that five Satoshi era Bitcoin wallets that had been dormant for 15 years, woke up and transfered 250 BTC.

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Bitcoin wallets dormant for 15 years suddenly move BTC

  • Satoshi era bitcoin wallets dormant since 2009, have just moved 250 BTC to new wallet addresses.
  • The five wallets transfered BTC in batches of 50 coins each.
  • Bitcoin price traded around $63,500, having touched highs above $64,000 across major exchanges.

Several Bitcoin (BTC) miner wallets that have been dormant for over 15 years suddenly woke up and have moved 250 BTC worth over $15 million.

The so-called ‘Satoshi era’ wallets are miner addresses created in the years that Bitcoin creator Satoshi Nakamoto actively mined BTC. Such wallets date back to 2009 – five of which just transferred 50 bitcoin each to new addresses.

On-chain transactions tracker Whale Alert highlighted each of the five 50 BTC wallet movements early Sept. 20. In total, five wallets had transferred coins worth $15.9 million to new wallets.

Lookonchain shared a screenshot of Whale Alert’s posts about the dormant coins. In this case, each of the miner addresses received bitcoin as mining rewards in 2009. Not one of these wallets transacted since that first transaction.

Notably, none of the new wallets had moved the coins to a crypto exchange as of writing.

In March 2024, a Bitcoin wallet dormant for over 12 years, suddenly woke up to move 500 BTC. Another wallet dormant for over 10 years, suddenly activated in April 2023.

Bitcoin price

The movement by these ‘Satoshi era’ BTC wallets come as Bitcoin price recovered to above $64,000 amid market reaction to this week’s Federal Reserve interest rate cut. The benchmarket cryptocurrency has over the past few months struggled to break higher – with a major dip to below $50k seen on August 5, 2024.

Commenting on price outlook, crypto analyst Ali Martinez says its likely traders may want to take profits at current prices.

BTC price tounched highs of $64,140 on Coinbase early Friday, September 20, 2024. However, it changed hands around $63,513 at the time of writing.

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Crypto exchange BingX hacked for $43 million

  • BingX was hacked early Friday, Sept. 20, with $43 million in cryptocurrencies stolen from the exchange’s hot wallet.
  • Hacker stole ETH, BNB, USDT and over 300 other coins and tokens.
  • On-chain data shows the attacker quickly swapped most of the assets for Ethereum and BNB.

BingX has been hacked, with the security breach resulting in the draining $43 million from the Singapore-based cryptocurrency exchange’s hot wallet.

Blockchain security firm PeckShield reported on the exploit early Friday.

Etherscan data indicates that of the $43 million stolen, over $13.2 million ETH, more than $2.3 million BNB, and more than $4.4 million USDT. The hacker also drained BingX’s hot wallet of 360 other coins – with these swapped into ETH and BNB at decentralized exchanges including Uniswap and KyberSwap.

BingX suspends withdrawals

Vivien Lin, the chief executive officer of BingX, confirmed the incident via an update posted on X.

Lin noted that the exchange’s technical team detected the breach around 4:00 am on Sept. 20, identifying an “abnormal network access.” The BingX security team immediately initiated the platform’s emergency plans, including urgently transferring assets from the hot wallet and halting withdrawals.

“To ensure security, withdrawals have been temporarily suspended while we conduct an emergency inspection and strengthen wallet services. We sincerely apologize for the inconvenience. Withdrawals will be restored within 24 hours at the latest,” Lin added.

The BingX CEO also assured users that the exchange is safe.

According to BingX, the losses are “only minor” and that most of the users’ funds are in cold storage.

One of the biggest exploits on a crypto exchange in 2024 happened in July when hackers stole over $230 million from India-based cryptocurrency exchange WazirX. The attacker has managed to launder most of the funds, the latest being $6.5 million sent to Tornado Cash.

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WIF, PEPE, and SEI shine as cryptocurrencies surge

  • WIF, PEPE and SEI were among top performing altcoins as Bitcoin surged to above $63,800 on Sept. 19.
  • These gains followed US Federal Reserve’s 0.5% interest rate cut.
  • Analyst says WIF could outpace market in coming weeks.

Meme coins dogwifhat (WIF) and Pepe (PEPE), as well as layer 1 blockchain Sei (SEI) are among the top gainers in the past 24 hours as several altcoins record their best performances for a while.

SEI was up 19%, WIF 17% and PEPE 12% as crypto rose amid Bitcoin’s surge to above $63,000 on Thursday.

According to data from CoinGecko, SEI price reached highs of $0.35 as its volume jumped 224% to over $345 million. Meanwhile, WIF traded to $1.81 across major exchanges, notching an intraday volume of over $717 million with a 24-hour increase of 109% at the time of writing.

Popcat (POPCAT), which has rallied since Kraken announced spot trading support, continued to outpace all other top 100 coins by market cap. However, meme coin Pepe also recorded decent gains to rank among best performers on the day. PEPE price jumped more than 12% to hit levels last seen on Aug. 28.

According to crypto analyst RookieXBT, dogwifhat price has the potential to pare losses seen during its recent downtrend within weeks. Notably, the analyst also sees further gains for POPCAT.

Crypto spikes after Fed interest rate cut

Most of the coins seeing significant gains in the past 24 hours are registering the upside after the market reacted upward to the US Federal Reserve’s interest rate cut on Sept. 18. After four years, the Fed slashed interest rates by 50 basis points on Wednesday.

Bitcoin price rocketed after the decision, with BTC first breaking above $60k to bolster overall sentiment. Prices retested resistance around $62.2k before a slight dip – then roared back to above $63.8k.

Solana (SOL) broke above $143 with over 10% gains, while altcoins such as Sui, Aptos, Bittensor and Avalanche recorded more than 12% respectively.

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