The post ERC-404 Tokens Plummet, $60 Million Evaporates in 24-Hour Market Dive appeared first on Coinpedia Fintech News
The ERC-404 tokens, an innovative hybrid of ERC-20 and ERC-721 on the Ethereum Blockchain, experienced a sudden and substantial decline in market value. Within a mere 24 hours, the sector lost more than a third of its total market value, a whopping $60 million gone.
The sudden crash in the value of ERC-404 tokens, which are still in the trial phase and awaiting formal adoption as an Ethereum Improvement Proposal (EIP) standard, caught many off guard. Many key projects utilizing ERC-404 suffered substantial losses, witnessing notable drops in their values.
PANDORA, a well-known ERC-404 token, lost more than 24% of its value. DEFROG also went down by 26%, and RUG faced a big drop of 31%. PANDORA’s fall came after a week of going up quickly.
Altogether, the crypto world lost $60 million in total, showing that a lot of people were selling their tokens.
The ERC-404 tokens showcase an extraordinary trait, offering incredible adaptability for a wide range of assets and uses. This experimental standard aims to combine the trading liquidity of fungible tokens (ERC-20) with the unique features of non-fungible tokens (NFTs or ERC-721).
Tokenization, a groundbreaking concept, allows assets to be split into smaller, more easily traded units. The ERC-404 standard is a forward-thinking initiative, making the trading of parts of an NFT more accessible and cost-effective. This approach aims to encourage more people to get involved in the market.
Despite its experimental nature and lacking official recognition as an Ethereum Improvement Proposal (EIP), the ERC-404 standard has already spurred the creation of various projects.
PANDORA, the first token using ERC-404, gained a lot of support from platforms like OKX, Blur, and OpenSea marketplaces.
DEFROGS is another project thriving under the ERC-404 standard, attracting attention with substantial growth. Recently, Coinpedia reported a fascinating overnight success story where a trader pocketed an impressive $166,000 in just two days by investing 0.258 ETH ($613) in the DeFrogs token.
These instances underscore the potential impact of the ERC-404 standard, showcasing its prowess in creating wealth in the dynamic world of cryptocurrencies.
The post ERC-404 Tokens Plummet, $60 Million Evaporates in 24-Hour Market Dive appeared first on Coinpedia Fintech News
The ERC-404 tokens, an innovative hybrid of ERC-20 and ERC-721 on the Ethereum Blockchain, experienced a sudden and substantial decline in market value. Within a mere 24 hours, the sector lost more than a third of its total market value, a whopping $60 million gone.
The sudden crash in the value of ERC-404 tokens, which are still in the trial phase and awaiting formal adoption as an Ethereum Improvement Proposal (EIP) standard, caught many off guard. Many key projects utilizing ERC-404 suffered substantial losses, witnessing notable drops in their values.
PANDORA, a well-known ERC-404 token, lost more than 24% of its value. DEFROG also went down by 26%, and RUG faced a big drop of 31%. PANDORA’s fall came after a week of going up quickly.
Altogether, the crypto world lost $60 million in total, showing that a lot of people were selling their tokens.
The ERC-404 tokens showcase an extraordinary trait, offering incredible adaptability for a wide range of assets and uses. This experimental standard aims to combine the trading liquidity of fungible tokens (ERC-20) with the unique features of non-fungible tokens (NFTs or ERC-721).
Tokenization, a groundbreaking concept, allows assets to be split into smaller, more easily traded units. The ERC-404 standard is a forward-thinking initiative, making the trading of parts of an NFT more accessible and cost-effective. This approach aims to encourage more people to get involved in the market.
Despite its experimental nature and lacking official recognition as an Ethereum Improvement Proposal (EIP), the ERC-404 standard has already spurred the creation of various projects.
PANDORA, the first token using ERC-404, gained a lot of support from platforms like OKX, Blur, and OpenSea marketplaces.
DEFROGS is another project thriving under the ERC-404 standard, attracting attention with substantial growth. Recently, Coinpedia reported a fascinating overnight success story where a trader pocketed an impressive $166,000 in just two days by investing 0.258 ETH ($613) in the DeFrogs token.
These instances underscore the potential impact of the ERC-404 standard, showcasing its prowess in creating wealth in the dynamic world of cryptocurrencies.