1ATH.Studio Altcoin Weekly
Altcoin Bullrun on the Horizon
With major breakthroughs and advancements in the altcoin world this week, we herald the incoming bullrun with a rundown of the major market-moving stories from the altcoin world.
Celebrities Go Bullish on Meme Coins: Iggy Azalea, Caitlyn Jenner, and Davido Launch Their Own Tokens
It’s been an exciting week for Solana meme coins on pump.fun! Top musicians and celebrities are jumping into the meme coin craze, launching tokens that have skyrocketed in market cap. Caitlyn Jenner introduced her coin, $JENNER, while Australian rapper Iggy Azalea launched $Mother, and Nigeria’s Afrobeat sensation Davido rolled out $Davido.
While some critics have pointed out the massive volatility of these new meme coins, they’ve quickly become favorites among many traders.
Ethereum Ecosystem Tokens: PEPE and MOG Surge Amid Ether ETF Approval
This week started with a bang for Ethereum ecosystem tokens, especially the frog-themed PEPE and cat-themed MOG. Both tokens surged to record highs on Monday, thanks to the recent approval of key Ether (ETH) exchange-traded fund (ETF) filings in the U.S. This news got traders excited, viewing these meme tokens as exciting beta bets.
PEPE saw an 11% jump, while MOG skyrocketed by 45% within just 24 hours! Trading volumes for PEPE exploded to over $1.8 billion, far exceeding the usual $400 million-$600 million range.
FTX Liquidators Set to Sell Bankman-Fried’s $30M Penthouse and Bahamas Real Estate
FTX liquidators are getting ready to sell some high-profile properties bought during the exchange’s glory days. This includes the $30 million penthouse in the Orchid building in the Bahamas, where Sam Bankman-Fried lived and worked. According to Bloomberg, industry experts believe FTX may have overpaid for these properties, making it tricky to break even. It’s definitely going to be interesting to see how this sale unfolds!
Solana validators are set to receive 100% of priority fees after a governance proposal passed with 77% approval.
Validators, crucial for confirming transactions and maintaining network security, will now benefit more from priority fees — extra fees users pay to expedite transactions.
This change aims to enhance rewards for validators, ensuring better network stability and incentivizing participation.
Ripple Donates Another $25 Million to Pro-Crypto PAC Fairshake
Ripple is making waves again with a generous $25 million donation to the federal super political action committee (PAC) Fairshake. This contribution is aimed at supporting pro-crypto candidates in the 2024 U.S. elections and matches the $25 million Ripple donated last year.
In their announcement, Ripple took a swipe at the SEC’s enforcement-based regulatory approach and highlighted the need for proactive legislation. With this investment, Ripple hopes to shape a positive regulatory environment for crypto in the U.S.
Pump.fun Revenues Hit Record as Celebrities Flock to Mint Personalized Tokens
Pump.fun is on fire! With celebrities rushing to mint their personalized tokens, the platform’s daily revenue has skyrocketed to a new record of $1.47 million in SOL. Since its launch in January, Pump.fun has deployed over three-quarters of a million tokens and charges a 1% fee on trades. This impressive performance has generated nearly $28.9 million in SOL fees, firmly establishing Pump.fun as a major player in the memecoin market.
Trump-Themed Meme Coins Rebound After Initial Plunge Following Verdict
Trump-themed meme coins, including MAGA (TRUMP), initially took a hit in price after former President Trump was convicted on 34 felony counts. However, the slump didn’t last long. The unofficial TRUMP token not only recovered its losses but also soared to a new all-time high of $16.84 per token on Thursday. It looks like these meme coins are as resilient as ever!
Meme of the Week:
Watching myself sell ETH at $2,000 because Elizabeth Warren was building an anti-crypto army:
Top Altcoin Gainers and Losers
Altcoin of the Week
MAGA — TRUMP
Trump (MAGA) coin is a cryptocurrency token that seems to draw inspiration from former U.S. President Donald Trump and his “Make America Great Again” slogan. It’s part of the meme coin trend, where the value of the coin is often driven by social media hype and community sentiment rather than traditional financial fundamentals.
The exact creator of the MAGA coin is not mentioned in the provided information. However, the coin seems to have gained attention due to its association with Trump, which has a significant following among certain segments of the population.
Price — $15.74
Market Cap — $729,260,801
Fully Diluted Valuation — $729,258,536
24 Hour Trading Vol — $12,440,072
Circulating Supply — 46,502,515
Total Supply — 46,502,370
Max Supply — 47,000,000
