Category: Token

Auto Added by WPeMatico

DYDX Sees Decline As Token Unlock Event Looms

In recent years, dYdX has emerged as a prominent player garnering positive attention from investors and the wider community. However, a recent downturn in the token’s value has raised questions. According to Lookonchain, “Whale”0x2A25” deposited the entire 1.5M $DYDX ($5.08M) received from dYdX Distributor to Binance 6 days ago, potentially instigating the sell-off. Compounding the situation, dYdX is poised to unlock 150M $DYDX ($505.5M, 81.63% of Circulating Supply) on Dec 1, with 83.19M $DYDX ($280.35M, 46.15% of Circulating Supply) slated for investors.  The token allocation structure reveals that 50% (500M $DYDX) is earmarked for various entities, and 30% (150M $DYDX)

The post DYDX Sees Decline As Token Unlock Event Looms appeared first on The Merkle News.

Go to Source

How to Launch Your Own Cryptocurrency: A Comprehensive Walkthrough

Creating your own cryptocurrency or token has become an enticing prospect in the blockchain space. Whether you’re an entrepreneur looking to establish a unique digital asset or a developer with a groundbreaking idea, here’s a comprehensive walkthrough on how to bring your cryptocurrency to life. Define Your Objectives: Start by outlining the purpose and goals of your cryptocurrency. Is it for a specific project, as a means of payment, or a utility token within an ecosystem? Choose the Blockchain Platform: Select the blockchain platform that aligns with your project’s requirements. Ethereum, Binance Smart Chain, and others offer token creation tools.

The post How to Launch Your Own Cryptocurrency: A Comprehensive Walkthrough appeared first on The Merkle News.

Go to Source

Top 5 Strategies For Token Deflation: Fueling Cryptocurrency Price Appreciation

Token deflation has become a sought-after strategy in the cryptocurrency space, as it can drive scarcity and increase the value of a digital asset. Various projects are adopting these strategies to stimulate price appreciation and create a more attractive investment. Here are the top methods used for token deflation: Burn Mechanisms: Many projects employ token burn mechanisms where a portion of the tokens in circulation is intentionally destroyed or “burned.” This reduction in the total supply increases scarcity and theoretically makes each remaining token more valuable. Binance Coin (BNB), for example, conducts regular token burns based on trading volume, effectively

The post Top 5 Strategies For Token Deflation: Fueling Cryptocurrency Price Appreciation appeared first on The Merkle News.

Go to Source