Nowadays, investors prefer investing early in a growth-bound presale than in a long-standing cryptocurrency. Market records also suggest that presale investments have given jaw-dropping returns to investors. One such unicorn-level presale is of Kangamoon. This new project is most likely to grow by 35X in 2024. Therefore, holders of Ethereum and Binance are also rushing to lock KANG tokens.
Ethereum Staking Participation Rate Increases To 25%
The Ethereum blockchain has been witnessing a rise in its staking. According to IntoTheBlock, the participation rate in staking Ethereum has increased by 25%. Hence, as of February 11, the cumulative amount of Ethereum staked by users was 38.69 million ETH.
It implies that users are actively staking their ETH tokens on the Ethereum network for a reward. According to experts, increased staking means people’s faith in Ethereum’s proof-of-stake consensus mechanism is growing.
Subsequently, the price movement of Ethereum has also been positive. In the past seven days, the price of Ethereum has increased by 14% to reach $2,649.92.
Binance Announces To Divest Its Stake In Korean Exchange
Despite witnessing a price increase, Binance is unable to see an improvement in its market image. The price of Binance has increased by 8% in the past week, and jumped to $325.93.
Notably, for the past many months, Binance has been facing regulatory fire across the globe. In the latest event, Binance has faced issues in Korea. As per reports, Binance has announced that it would divest its stakes in GOPAX.
Earlier, Binance had purchased a 72.26% stake in GOPAX, a major exchange in the Korean market. The announcement was made after Binance failed to secure approval for the shareholding revision from the Korean regulators.
Kangamoon Attracts Market Bulls With Its Presale Boom
According to research, around 64% of crypto investors invest in meme coins while expecting high returns. However, meme coins are highly risky assets as they do not serve any real-world utility. Their holders earn money largely due to market speculation and hype. But no more! A new project, Kangamoon, has unveiled a one-of-a-kind meme token with multiple utilities.
It has combined the features of SocialFi and GameFi tokens. The project will offer a gaming-based ecosystem where players can play-and-earn. The project’s game will allow players to build their gaming characters with unique abilities. It aims to build a community of like-minded people interested in memes and gaming.
On the platform, players can participate in weekly, monthly, and quarterly challenges to earn special rewards and giveaways. These awards will have tangible value outside the game, and can be traded. Besides, Kangamoon will also launch a marketplace where players can buy and sell their rare in-game assets.
KANG, based on Ethereum, will be the native crypto of the project’s ecosystem. Its owners will get several benefits, and can generate a steady income source over time. As per the project developers, a total of 1 billion KANG tokens will be in circulation, of which 60% are for the presale round.
Due to these benefits, the demand for Kangamoon presale tokens has skyrocketed. Currently, KANG tokens’ presale is in Stage 1, available at a price of $0.005. During the presale round, the price of the token is expected to increase by 22X.
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Source: https://cryptodaily.co.uk/2024/02/presale-buying-frenzy-from-ethereum-eth-and-binance-bnb-holders-sees-new-cryptocurrency-hit-100k-in-days