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Aragon Association dissolves, tells holders to redeem ANT for ETH

  • The Aragon Association is the steward of the Aragon (ANT) treasury and assets.
  • Token holders have until November 2, 2024 to redeem their ANT tokens for Ether (ETH).
  • 86,343 ETH from the treasury has been deployed for the redemptions, with the rate at 0.0025376 ETH per ANT.

Aragon (ANT) holders will have to redeem their tokens for Ethereum (ETH) for the next twelve months, the Aragon Association, a Swiss-based nonprofit supporting the project’s development, has announced. The association is also the legal steward of the ANT treasury and assets.

What is happening with Aragon (ANT)?

The Aragon Association revealed it was dissolving amid plans to continue the project’s development in a new “product-focused structure.”

According to an update from the company, the pivot in focus means there’s no point for users to continue holding ANT. The association  has deployed 86,343 ETH for the process, which accounts for 87% of the treasury and will be sent to a smart contract that will allow autonomous redemptions at the rate of 0.0025376 ETH per ANT.

“At the end of the redemption period, the redeemed ANT will be burnt and any remaining ETH will be sent to the Ethereum address of the new product-focused structure,” the Aragon Association said in their announcement published on November 2.

Token holders have until November 2, 2024 at 23:59 UTC to complete the transition, after which the option will no longer be available.

New chapter for Aragon

Aragon, which seeks to offer a user-friendly tech stack for decentralised autonomous organisations (DAOs), raised 275,000 ETH (approximately $25m at the time) in 2017. ANT also envisioned a token that would power Aragon Network’s dispute resolution system.

But while there were successes such as the Aragon Nest grants program and launch of the DAO framework aragonOS, the project faced key challenges in many other goals. For instance, they failed to create a much hyped court system for DAOs and an appchain on the Cosmos blockchain.

The nonprofit also failed to galvanise its efforts, despite the bull market seeing the treasury grow significantly. According to their announcement, “bureaucratic complexity, misaligned stakeholders, and failed attempts at modifying the governance increased tensions within the project.”

An effort to vest the treasury’s control to ANT holders failed as users, partners and developers held only a fraction of the ANT supply. This meant a “volatile gap existed between the value of the treasury and the token market cap,” an outlook that jeopardised Aragon’s mission.

A post on X noted the project needs a total reset.

The Aragon token price was $4.58 on Friday, down more than 68% from its all-time high of $14.64 reached in April, 2021.

The post Aragon Association dissolves, tells holders to redeem ANT for ETH appeared first on CoinJournal.

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Memeinator raises over $1.1 million as stage six of the presale draws closer

Key takeaways

  • Bitcoin continues to trade above $34k as altcoins rallied in the last few days.

  • Memeinator has now generated more than $1.1 million, with its stage five presale coming to an end soon.

The cryptocurrency market has been bullish over the last two weeks. Bitcoin rallied above the $35k level earlier this week before slightly retracing. With altcoins also rallying, Memeinator’s presale continues to attain new milestones.

Bitcoin and altcoins rally

Bitcoin and altcoins performed well over the last few days. Bitcoin rose by more than 20% in October, its best performance since January 2023. The rally saw Bitcoin reach the $35k level for the first time in nearly 17 months.

Altcoins such as Solana and Near also rallied higher. PEPE and FLOKI were the best-performing meme tokens over the last few days. With meme coins performing well, Memeinator also reached new milestones. 

What is Memeinator?

Memeinator is a Web3 project that seeks to change how people view memes. The project wants to leverage the hype around meme coins by providing users with numerous use cases.

The project wants to destroy worthless memes, ensuring that there is a higher level of quality content available to users. Memeinator wants to stand out in a crypto space that is filled with thousands of meme tokens with no utility. 

Memeinator will use AI  to identify worthless memes, allowing users to know them and steer clear of them. The team are working to ensure that Memeinator attains a market cap of at least $1 billion, turning it into one of the biggest meme coin projects in the crypto space. They have also published a detailed roadmap that shows how Memeinator will reach the $1 billion market cap. 

The Memeinator presale is now in its fifth stage, and the project has raised more than $1 million. In the first presale stage, the MMTR was sold for $0.01, but it has been increased to $0.0125 in the current stage. The price will rise to $0.0485 by the end of the presale, giving early investors a whopping 132% ROI at listing. 

Memeinator’s stage five presale nears completion

The Memeinator presale will round up its fifth stage over the next few hours or days. So far, the team has raised more than $1.1 million of its $1.21 million target.

Investors who wish to get in on this project can buy the Memeinator token (MMTR) using ETH, USDT and USDC stablecoins. At the moment, the token is available to users on the Ethereum and BNChain blockchains. 

It is easy to buy the MMTR token as users only need to connect any of the supported wallets to the Memeinator website and buy the tokens using ETH, USDT and USDC coins. 

Click here to read more about the Memeinator presale.

Why is the Memeinator presale attracting investors?

Memeinator is getting attention from investors thanks to its real-world use case. MMTR is the native token of the ecosystem and will power several activities on the platform. 

Thanks to its utilities, Memeinator could gain massive adoption from degens, crypto natives, and speculators. The project has use cases beyond the crypto space, as content creators could use its services to gain access to quality memes. 

The platform will take advantage of AI to analyse and evaluate memes across the internet, identifying lower-quality memes to replace or destroy them. 

Its native token, MMTR, comes with some excellent features. The token has deflationary mechanisms and rewards for holders. Furthermore, the team has allocated 20% of the tokens for marketing, CEX listing and liquidity. 

Is the Memeinator a good buy? 

Memeinator could be an excellent meme project, thanks to its exciting utilities. If it gains the right level of adoption, the early investors would be the biggest winners. 

This project will be leveraging AI and blockchain technology to provide excellent value to investors over the coming months and years. If Memeinator reaches a billion-dollar market cap, early investors would be the biggest winners. 

The post Memeinator raises over $1.1 million as stage six of the presale draws closer appeared first on CoinJournal.

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FXT Token (FTT) plummets after SBF was found guilty

  • FTX token (FTT) plummets to $1.1579 after founder SBF’s fraud verdict.
  • SBF was found guilty on all seven counts after a 15-day trial.
  • Sam Bankman-Fried sentencing is scheduled for March 28, 2024.

The price of FXT Token (FTT) has taken a severe hit, plummeting to its lowest point of the year at $1.1579, a drop of 8%.

FXT token price chart

 

This significant decline comes in the wake of the guilty verdict for Sam Bankman-Fried (SBF), the founder of FTX, which once listed among the leading cryptocurrency exchanges.

Sam Bankman-Fried verdict

The primary catalyst for this latest drop is the outcome of SBF’s trial, where he was found guilty on seven counts related to fraud and conspiracy. These charges include conspiracy to commit wire fraud, political fraud, and more.

The trial against Sam Bankman-Fried lasted for 15 days, during which former associates testified against him, alleging his involvement in fraudulent activities that resulted in substantial financial losses for FTX customers. While SBF’s legal defence argued that he did not have any intent to defraud his customers or investors, the jury’s verdict spoke otherwise. Sam Bankman-Fried also gave his testimony starting on October 26.

FXT Token (FTT) price

FTT has witnessed a remarkable downfall, with its value sliding over 98% from its all-time high of $85.02.

In the past 24 hours, FTT’s price has seen fluctuations, ranging from a low of $1.16 to a high of $1.32. Its 52-week low was recorded at $0.77, and the highest point reached $25.86. However, the coin has struggled to recover since its all-time high.

The negative sentiment surrounding FTT began to emerge in November when the FTX filed for bankruptcy. This event significantly eroded market confidence in FTT, which was once trading at an all-time high of $85.02.

Despite these challenges, there is a glimmer of hope for FTT and FTX under new management. The exchange is striving to recover over $7 billion in lost funds and potentially rebrand itself. This effort could redefine the future of the exchange and FTT, offering a fresh start following a period of significant difficulties.

The post FXT Token (FTT) plummets after SBF was found guilty appeared first on CoinJournal.

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Trust Wallet Token (TWT) jumps following Binance Futures listing

  • TWT price soaring after Binance Futures listing.
  • Binance listing fuels TWT’s impressive price surge.
  • TWT draws comparisons to Binance Coin (BNB), piquing investor interest.

In recent market development, Trust Wallet Token (TWT) has seen a remarkable pump in its price, catapulting by an impressive 18% price rise in a week.

This hike, reminiscent of its peak price back in April, is attributed to TWT’s listing on Binance Futures.

Binance Futures listing sparks enthusiasm

TWT, the native token associated with Trust Wallet, which is closely linked to Binance, has garnered attention with its recent addition to the Binance Futures market. The move marks Trust Wallet’s endeavour to expand its presence and offer its users a broader range of trading options.

Listing on Binance Futures, a prominent player in the cryptocurrency exchange space, has traditionally been associated with heightened price action. The immediate 22% surge in TWT’s value underscores the impact such listings can have on the digital asset’s price, fueling market enthusiasm.

TWT price movements

TWT, at the time of writing, stands at $1.24 USD, with a market capitalization of over $515 million. The token is ranked 71st in terms of market capitalization. TWT’s 24-hour trading volume reached an impressive $188.9 million, further underscoring the strong interest in the token following its Binance Futures debut.

With a circulating supply of 416,649,900 TWT tokens, accounting for approximately 41.66% of the total supply, TWT has a maximum supply capped at 1 billion tokens. Its fully diluted market capitalization is estimated at $1.24 billion USD.

Investors and enthusiasts are closely watching TWT as it garners comparisons with Binance Coin (BNB). The potential for TWT’s success is a topic of discussion, especially given its association with Binance and its similarities with wallet tokens like the expected MetaMask coin.

TWT’s price performance, along with the dynamics of its association with the Trust Wallet ecosystem and the broader cryptocurrency market, will likely continue to draw attention and speculation in the coming days.

The post Trust Wallet Token (TWT) jumps following Binance Futures listing appeared first on CoinJournal.

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What is the bullish potential for Memeinator as the price rises to $0.0125 in presale?

  • Memeinator aims to dominate by destroying weak meme cryptocurrencies.

  • Memeinator has entered stage 5 of the presale as the price rose to $0.0125.

  • MMTR could rise 10x in 2024 and 50x in 2025 on increased speculation and demand.

With 5 of 29 stages completed, Memeinator has shown no signs of stopping its fire presale. Over $1.128 million has been raised through stage 5, helping the token rise to $0.0125. The price is now set to rise to $0.0133 in the next stage, delivering substantial returns to presale buyers. After its 29-stage presale, Memeinator will have returned 132% ROI to early investors. The post-listing gains are projected to be huge, owing to Memeinator’s value proposition.

“Meme killer” Memeinator role in meme space

Think of big names in the meme investment landscape. Dogecoin, Shiba Inu, and PEPE are notable examples that have made a killing for investors. This hasn’t always been the case for other meme projects, which have suffered a natural death. Investors of the low-quality memes have sustained losses, raising scrutiny over their value.

Memeinator dubs as a “meme killer,” promising to take on non-original peers. Boasting cutting-edge AI technology, Memeinator will crawl the web and social forums. The aim is to eliminate low-quality memes. The AI use underlines Memeinator’s commitment to quality, helping investors invest in memes with high ROI. 

Memeinator also has an ambition of its own. The project aims to tap into meme mania and speculations to generate interest and demand. The project team will invest heavily in branding and marketing to become a sensation. The marketing will ensure everyone is talking about Memeinator, helping it claim a $1 billion market cap.

Is Memeinator a good investment?

Regarding meme investment, very few projects would be up for grabs. As such, sustainability separates the top meme tokens from the rest. Take the example of Dogecoin. The project has existed for a decade and has been tapped for payments on numerous outlets. This makes Dogecoin a potential sustainable meme project.

Memeinator is launching now, and it may be inconsiderate to evaluate it on the same parameters as Dogecoin. However, we know that AI is nearly a buzzword in 2023. It represents the future in many industries, including blockchain. By tapping into AI, Memeinator will attain sustainability through enhanced use cases in the meme space. The use could increase speculation on the token and allow its price to skyrocket.

The investment value of Memeinator is also enhanced by its use case in other Web 3.0 areas. Along with its promise of destruction, Memeinator will let its users participate in taking rival weak memes. The project will launch a game where players take on enemy memes in chaotic crushing and shootings. The game feature adds to the utility of Memeinator and helps in the token’s price discovery.

Passive income opportunities are also an attractive point for Memeinator investors. MMTR buyers will have an opportunity to commit some tokens to the project for regular rewards. Presale buyers will also earn exclusive NFTs that entitle them to potential gains and future perks.

Memeinator prediction in 2024, 2025

Memeinator will be listed on the best exchanges once the presale ends. Since the presale is in its initial stages, the token listing could occur in 2024. This is when increased speculations could unlock the token price.

Once listed, MMTR prices could rise by four-digit percentages in 2024. The projection reflects the frenzy that Memeinator has generated since launching the presale. 

In 2025, the price of Memeinator could increase based on its organic use. Memeinator will have officially begun taking shitcoins and is on its way to gaining the top meme position. New meme replicants that Memeinator seeks to launch could also unlock its future potential. In 2025 and beyond, the potential for Memeinator is a gain of up to 50x.

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