News
Over $5 m in token unlocks are set for this New Year’s week
Published
3 days agoon
By
adminIn the upcoming week, a token release of over $5 million will take place, featuring assets such as SUI, OP, ZETA, KAS, DYDX, ENA, and others.
According to Tokenomist, the first in the unlock cycle is SUI, with $263.20 million in tokens scheduled to be unlocked, amounting to 2.19% of its circulating supply. This event is expected to occur approximately one day from now. Likewise, $58.61 million worth of Optimism (OP) tokens, or 2.32% of the total supply, will be unlocked within hours. Then comes Zeta Chain (ZETA), with $31.22 million, or 9.35% of its supply, that will be released in the same timeframe.
Other key projects include dYdX, which will release $12.75 million in tokens, or 1.17% of its supply, and Ethena (ENA), whose $12.73 million in tokens will account for 0.44% of its supply.
The Kaspa (KAS) token, on the other hand, will unlock $21.39 million worth of tokens within the next six days, making up 0.72% of its circulating supply. These releases crowd circulating supply and can push up prices, trading volumes, and liquidity through the market. Leveraging the GHOSTDAG consensus protocol, KAS enables the parallel creation of blocks, resulting in the formation of a block Directed Acyclic Graph or blockDAG for improved scalability and consensus. Unmatched by the current 1 block/s and the plan to achieve 10 or even 100 block/s, KAS is built for high-throughput financial applications, with speed, scalability, and security as its pillars, and features like directed acyclic graph (DAG) topology querying, data pruning, and SPV proofs and layer 2 subnetworks.
Token unlocks refer to the planned release of locked crypto tokens, typically allotted to early investors, team members, or ecosystem growth. These events raise a token’s circulating supply, which can impact its price in a scenario where market demand cannot absorb the newly issued tokens. Because they affect market dynamics, transparency, and investor sentiment, unlock is essential.
Big unlocks can indicate selling pressure and affect near-term prices, while the others might drive ecosystem growth by funding development or incentivizing participation. Investors usually monitor them — to anticipate price movements and adjust strategies.
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DEGN launches NFTs linked to 1,690 new ‘physical money’ printers
Published
4 hours agoon
January 2, 2025By
adminDEGN has released a Solana-based NFT that can be redeemed for a physical minting device called the Airmoney DEGN Genesis Edition. The device functions as a DePIN hardware wallet, allowing users to trade directly and print their wealth.
According to its description on NFT marketplace Magic Eden, there are 1,690 numbered Airmoney DEGN Genesis Edition devices available for NFT buyers. Marketed as a “physical money printer,” the Airmoney DEGN enables users to trade, earn, and print physical money directly from the device.
“The crypto world needed a physical money printer, so we built one. DEGN Genesis Edition introduces 1690 numbered devices – each uniquely paired with a Solana NFT,” wrote DEGN.
On its official X account, @AirmoneyDegn, the company announced that minting for the device will begin on Jan. 2 at 9:00 a.m. EST. Whitelisted wallets will have early access for the first two hours upon launch, with each buyer limited to five NFTs. However, the official release and worldwide shipping dates for the product remain unclear.
Users interested in purchasing the device can redeem it through the NFTs. After minting, buyers will be able to fill out a pre-order form on the official site. Based on the Solana (SOL) blockchain, the NFTs for the device cost 2.69 SOL or around $560.
DEGN claimed the device is backed leading crypto firms including ByBit, Berachain, Movement, and Hyperliquid. Promotional images depict the device as featuring two buttons labeled “long” and “short,” a screen displaying trading activity for various tokens, and a side knob.
Additionally, DEGN stated that holders of the Genesis Edition device will receive “lifetime node rewards” and participate in what it calls “the largest token distribution in DePIN history.” Hinting at a future token launch, DEGN promises device holders a 69% allocation of its future tokens.
“This isn’t just another hardware wallet; it’s a physical manifestation of crypto culture, built for the trenches, engineered for degens. Each device serves as your key to the future of decentralized physical infrastructure networks,” wrote DEGN.
Each buyer will receive a uniquely numbered device that provides access to DEGN’s on-chain marketplace. Users can also run decentralized nodes directly through the device and earn rewards.
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AI
Destra crypto soars above 30% as DSYNC trading becomes tax free
Published
7 hours agoon
January 2, 2025By
adminThe recently launched Destra crypto, DSYNC, leaps as high as 32% following an announced 0% tax from Destra. DSYNC is the native token of Destra network, a decentralized AI computing platform.
According to data from CoinGecko, DSYNC has gone up by more than 30% in the past day of trading. At the time of writing, it is trading hands at $0.406. At the beginning of December, DSYNC reached a new all-time high, surging to more than half a dollar. The token’s current price is only 22% lower than its recent ATH.
In the past week, DSYNC has been on an upward trend. The token has gone up by more than 21%. However, it has gone down by 7.6% in the past month of trading.
A day before DSYNC’s price surge, the Destra Network announced via an X post that DSYNC is now tax free. Shortly after the announcement, the token spiked by 13% before seeing bigger gains the day after.
It is possible that the recent boost was fueled by the broader AI token rally. According to data from CoinGecko, the total market value of AI meme coins crossed the $10 billion threshold, increasing by nearly 30% in the past 24 hours. At the time of writing, its combined market cap is nearing $11 billion.
The Destra Network is known for its optimization of AI technology within the blockchain and cloud solutions using GPU. The project has been a champion of using decentralized AI agents.
According to its X account, Destra is in the process of developing a platform called Destra Sentient, that would provide traders with specially designed AI agents that “think like humans, communicate naturally, and bring a new level of interaction to your digital world.”
As previously reported by crypto.news, major networks such as ZKsync and Ripple Labs have made strides to combine AI and blockchain technology, whether it is through partnering with AI platforms or launching their own.
According to Syncracy Capital, AI technology is still fairly new to the crypto space, with only 1% of the total crypto market cap credited to AI-integrated projects. Though, this may soon change as AI tokens continue to reign.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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Altcoin Sherpa
Trader Warns Altcoin That’s Up 9,000%+ in Two Months Primed for a Pullback, Updates Outlook on Hyperliquid
Published
13 hours agoon
January 2, 2025By
adminWidely followed trader Altcoin Sherpa says that one artificial intelligence (AI)-focused crypto asset is about to present opportunities for bulls.
Altcoin Sherpa tells his 236,000 followers on the social media platform X that ZEREBRO, which bills itself as an AI system that autonomously creates and distributes content onto various platforms, may allow entries in the $0.40 range.
After a correction, the trader says that ZEREBRO will be “very strong” in the future.
“$0.50 is still resistance and I expect some sort of pullback between here and low $0.60s but I still think this is going to be a very strong one going forward. I have a solid bag of this. Team is full of shippers
I’d view the $0.40ish area as a decent entry.”
At time of writing, ZEREBRO is trading at $0.54, up 38% in the last 24 hours.
Altcoin Sherpa is also bullish on decentralized perpetuals exchange Hyperliquid (HYPE).
He says that those looking to position themselves long on HYPE can start to look at accumulating at current prices, with a potential target above the $50 level.
“HYPE DCA (dollar cost average) between 30-25 and feel good about it.
Also consider saving some $$ to buy lower in case it comes. low 20s would be a gift and I plan on adding plenty more if it comes.
still think it goes to $50+ before cycle end.”
At time of writing, HYPE is trading for $0.26.
With his eye on the memecoin sector, the trader says many of the big memes like MOODENG, CHILLGUY, or PNUT “all either send hard” from current prices or “fall off a cliff.”
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