Monday s
Top Performer:
This Crypto Stands
Out With A 500%
Rally Get The Full
Scoop
Monday s Top Performer: This Crypto Stands Out With A 500% Rally
Get The Full Scoop
by Ronaldo Marquez
3 mins ago
in Crypto News
0
As the broader crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта faces significant price corrections, primarily
driven by Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s (BTC) nearly 5% drop on Monday, one token has
emerged as a standout performer.
Black Agnus and its native token, FTW, have captured attention with an
extraordinary surge of 507% in just 24 hours, alongside a significant 183%
increase in the past hour alone.
FTW Climbs To 75th Place Among All Cryptos
FTW s rise has propelled it to the 75th position among the largest
cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, a significant achievement for a relatively new entrant in
the market.
The token s ascent can be traced back to its listing• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Листинг (экономика)
• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Фондовые биржи » Листинг акций компаний по бирже » Листинг (экономика)
• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Биржи » Фондовые биржи » Листинг акций компаний по бирже » Листинг (экономика) on major crypto
market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта aggregators CoinGecko and CoinMarketCap on September 12, which boosted
its visibility and attracted a wave of crypto investors eager to capitalize on
its momentum.
Related Reading: Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Mine Shutdown In Norway Sparks Higher Power Bills For
Residents
On-chain analytics platform Nansen describes FTW as a token that combines
elements of meme culture with the functionalities of decentralized finance• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Листинг (экономика)
• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Фондовые биржи » Листинг акций компаний по бирже » Листинг (экономика)
• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Биржи » Фондовые биржи » Листинг акций компаний по бирже » Листинг (экономика)
(DeFi), setting it apart from many other meme coins that lack such
capabilities.
The token is allegedly designed to be entertaining and financially
empowering, aiming to redefine the meme token landscape by providing
genuine utility. FTW s price increase has been recorded over the last 24
hours. Source: CoinGecko
As of the latest data, FTW is trading at $0.00009953, following a trading
volume increase of 76% over the weekend. It reached a peak price of
$0.00003531 on Monday, according to CoinGecko. Nansen data further shows that
FTW recorded approximately $1.79 million in decentralized exchange (DEX)
volume over the past 24 hours.
Concerns Over Centralized Holdings?
FTW’s tokenomics currently boasts a market capitalization of approximately
$351 million, reflecting strong investor interest despite its recent entry
into the market.
Despite this bullish indicator , a worrying detail has emerged as Nansen data
shows that one active wallet holds nearly 25% of the total 10 trillion of
FTW’s token supply.
Related Reading: Shiba Inu Team Members Reveals The Best Way To Burn SHIB And
Reduce Supply
This address, which may be associated with the development team, has
distributed approximately 7.54 trillion FTW of the 10 trillion tokens
available in the past month, with an additional 2.46 trillion tokens still
available for sale, as seen in the image below. FTW s massive token
concentration and distribution by the same wallet. Source: Nansen
Such significant selling activity could threaten the sustainability of
FTW s recent price gains and potentially lead to a sharp price
correction for the token, representing nearly a quarter of the total supply.
However, the Black Agnus team has indicated that the initial token sale will
allocate 60% of the total supply, aligning with the observed selling patterns.
The roadmap outlines community development at 10%, marketing and partnerships
at 10%, ecosystem development at another 10%, and reserves and team/advisors
at 5% each.
Ultimately, it remains to be seen if the current uptrend can be sustained over
time, as these price increases typically follow profit-taking by investors.
Monitoring wallet movements to understand the next movements and if this
aligns with the Black Agnus team s strategy will also be important. The
daily chart shows the total crypto market• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта cap valuation at $1.96 trillion.
Source: TOTAL on TradingView.com
Featured image from DALL-E, chart from TradingView.com
