Kategorie: Crypto News

• Ethena (ENA) price reached highs of $1.49, surging more than 18% in 24 hours as most altcoins struggled.
• Bullish sentiment amid new staking rewards for ENA holders could push ENA price higher.

Ethena (ENA) traded to highs of $1.49 on Wednesday, its all-time high that sees the recently launched crypto project rising towards the top 50 cryptocurrencies by market cap.

According to data from CoinGecko, Ethena ranked 58th largest with a market cap of over $2.07 billion. The token’s value was around $1.45 at the time of writing, 18% up in the past 24 hours and nearly 30% up this past week.

Why is Ethena price surging today?

Today’s gains for ENA came as Bitcoin hovered near a key level following recent declines. Top altcoins also dropped as the crypto market mirrored stocks, with major US indices slipping amid hit CPI data and US President Joe Biden’s comments on interest rate cuts.

While BTC, ETH and other tokens struggled, ENA price benefitted from a spike in staking. Ethena (ENA) is the native token of Ethena Labs, a synthetic dollar protocol on Ethereum. USDe is a yield bearing stablecoin.

An announcement earlier this week of increased reward for stakers looks to have spurred activity, including from top Ethena whales. On Wednesday, Ethena Labs announced integration with top exchange wallets, including Binance Web3, Bybit, OKX Wallet and Bitget Wallet.

Users who lock up their USDe for a minimum of 7 days via any of these exchange Web3 wallets will be eligible for a 20% boost on their reward.  

On Monday, the protocol rolled out its “Season 2” staking rewards, with users locking 50% or more of their tokens will be eligible to a 50% boost to their reward.

Today we introduce $ENA into Season 2 in order to more closely align the growth in USDe with $ENA

Users who lock $ENA at a minimum of 50% of their total USDe holdings per wallet will receive

i) 50% increase in their rewards
ii) the highest number of rewards per day of any pool pic.twitter.com/zxVmpGZSN6

— Ethena Labs (@ethena_labs) April 8, 2024

According to on-chain data shared by Lookonchain, multiple whales have withdrawn millions of ENA from exchanges and staked since the announcement of Season 2 rewards.

Ethena recently unveiled a 750 million ENA airdrop for its community.

The post Ethena price reaches new all-time high: Here’s why ENA is surging appeared first on CoinJournal.

• STEPN distributes 100 million FSL Points to users.
• The airdrop aims to reward loyal community members and fuel engagement within the STEPN ecosystem.
• STEPN is also expected to announce a partnership with a leading global sports brand soon.

According to a post on X, Move-to-earn lifestyle app, STEPN, has completed an extensive airdrop campaign, allocating 100 million FSL Points to its user base, valued at $30 million.

The initiative, unveiled ahead of an impending partnership with a renowned sports brand, marks a pivotal moment for the Solana-based move-to-earn platform.

FSL points redeemable at 1:1 ratio for GMT tokens

The recently completed airdrop is the second airdrop marking the end of our STEPN Trailblazer event, which is the third one since 2022. The airdrop aimed at incentivizing user engagement and fostering loyalty within the STEPN community.

Users will have the opportunity to claim FSL Points, redeemable at a 1:1 ratio for STEPN’s native GMT token, enhancing their participation in upcoming mints and exclusive rewards.

Commenting on the initiative, Shiti Manghani, CEO of STEPN by FSL, expressed gratitude towards the community, highlighting the importance of prioritizing loyal members and offering them exclusive access to upcoming developments within the ecosystem.

The airdrop campaign was divided into two phases: Phase 1 targeted STEPN badge holders, incentivizing achievements completed within the app, while Phase 2 focused on rewarding Genesis Sneakers holders, with higher rewards allocated to the most dedicated users.

Recipients of FSL Points are encouraged to claim their rewards by the end of April, contingent upon signing up for an FSL ID, facilitating seamless interaction and reward earning within the STEPN ecosystem.

Integrating STEPN, MOOAR, and Gas Hero within the FSL ID platform enhances user engagement and streamlines the reward process.

As crypto enters a new market cycle and mainstream interest in fitness solutions grows, STEPN remains at the forefront of bridging the gap between Web2 and Web3 technologies.

The post STEPN airdrops $30M GMT tokens ahead of major global partnership appeared first on CoinJournal.

In a surprise announcement on their official X (Twitter) account, the team behind BabyMona, the long-awaited successor to the legacy of MonaCoin (the “Japanese Dogecoin” and second-oldest memecoin), has declared the arrival of $BYMONA.

Plans to Revolutionize the Crypto Landscape

After a period of continuous development, the launch of BabyMona has stirred up a lot of interest within the memecoin community. 

This project, built upon the legacy of MonaCoin, aims to revolutionize the crypto landscape with its playful spirit and community-driven approach.

Beyond the undeniable cuteness of the ASCII art mascot, BabyMona offers a compelling vision for the future of memecoins. 

Built on the secure and efficient Solana blockchain, BabyMona promises a smooth user experience alongside its undeniable charm. 

Notably, the project heavily emphasizes community involvement, rallying passionate crypto enthusiasts and cat lovers alike to form the #BabyMonaArmy. This focus on a strong user base suggests the project is aiming for long-term success beyond the typical memecoin hype.

With its widely communicated vision of empowering the underdog and rewriting the script of the crypto world, BabyMona has captured the attention of many.

Simple Tokenomics for a Strong Foundation

BabyMona maintains simplicity in its tokenomics to uphold project transparency and nurture trust within the community. 

With a total supply of 1 billion $BYMONA tokens, a substantial portion (70%) is dedicated to liquidity, ensuring a strong and stable user marketplace. 

Additionally, 15% of the tokens are reserved for marketing initiatives, enabling BabyMona to expand its reach and cultivate a thriving community.

A further 10% is set aside for potential listings on centralized exchanges (CEXs), which could significantly enhance accessibility and trading volume for $BYMONA. 

And last but not least, the BabyMona team has reserved a fair 5% of the tokens for themselves, showcasing their dedication to the project’s long-term success and alignment with the community’s interests.

$BYMONA was Audited by Coinscope

Understanding the significance of user trust, BabyMona underwent a thorough examination by Coinscope, a trusted third-party firm renowned for its expertise in blockchain security assessments. 

The audit yielded positive results, providing assurance to potential investors and emphasizing the project’s commitment to fair and open practices.

As the project continues to develop, it will be fascinating to see if the adorable cat coin can claw its way to the top of the memecoin hierarchy and establish a truly revolutionary presence in the crypto landscape.

About BabyMona

BabyMona is a new crypto project that aspires to be more than just another meme coin. 

Utilizing the secure and efficient Solana blockchain, the project prioritizes a smooth user experience. 

Through initiatives like the #BabyMonaArmy, BabyMona aims to foster a passionate user base that actively participates in the project’s growth and development.

Remember that $BYMONA is a meme coin and should be considered for entertainment purposes only. It has no intrinsic value and carries no expectation of financial return. There is no formal team or roadmap associated with the project.

Stay Connected

BabyMona is on a mission to revolutionize the memecoin space by empowering its community and challenging the status quo. With its adorable mascot, and strong community focus, BabyMona is poised to become a major player in the memecoin world. 

But to achieve this, the project needs you, so ensure that you stay connected with their official website by following them on X (Twitter) and Telegram.

The post New Solana memecoin, BabyMona, launched as long-awaited successor to MonaCoin appeared first on CoinJournal.