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The 9 Most Ingenious Uses of Cryptocurrencies
Some cryptocurrencies, including Bitcoin, are primarily used as a store and a means of transferring value from one person to another. But today, there are thousands of different cryptocurrencies available. Many of these cryptocurrencies offer unique use cases, and several organizations and websites also offer the ability to use your cryptocurrency holdings for purposes other than paying for goods and services or sending them to other wallets. Below, we look at 9 ingenious uses for cryptocurrency.
1. Put it into play
Staking is only available with certain cryptocurrencies. Bitcoin, for example, does not offer staking. Ethereum, however, does. When you are given the option to stake a cryptocurrency, it means that you will receive rewards for holding that coin for a certain period of time. The amount you receive depends on the amount you stake, as well as the supply at that time.
Staking is also commonly used in pre-sales. If the buyer is willing to stake the cryptocurrency they are investing in, they can get additional discounts and benefits, potentially leading to significant profits when the coin is launched on exchanges.
2. Invest in pre-sales
Coin presales are held before a coin is launched. They give the group behind the cryptocurrency capital to work with and increase the liquidity of the token when it is launched. Some of the best cryptocurrency pre-sales continue to increase significantly in value when listed on recognized exchanges.
For the investor, a presale provides discounted prices on the tokens and can include additional bonuses such as airdrops. According to cryptocurrency writer MedB, Ethereum was available during the presale for $0.31 and at one point was trading at $5,000, representing a huge profit for those who took advantage of the discounted rates.
3. Lend it
Cryptocurrency lending is another method of potentially earning passive income on cryptocurrency capital. Holders lend a certain amount of a given cryptocurrency to one or more borrowers, who pay interest on that capital over time.
Lending cryptocurrency carries the same risks as any form of lending, most notably the risk that borrowers will default on the loan. It also carries the additional risk that the cryptocurrency itself may increase or decrease in value while it is held by another person. If you lend 100 Ether, for example, you will receive 100 Ether back plus interest, regardless of whether the value of that Ether has increased or decreased.
Cryptocurrency lending is a viable option for those who intend to hold their cryptocurrencies for the long term, but not for those who are willing to sell them during ups and downs.
4. Use it to play
Cryptocurrency gaming is a growing market. In cryptocurrency gaming, players pay for accounts, purchase land, or trade items using real cryptocurrency. With play-to-earn games, it is also possible to earn extra cryptocurrency, meaning that investing a small amount of cryptocurrency can lead to larger increases in holding size.
Because cryptocurrency is immutable, meaning transaction details cannot be altered or deleted, there is less risk of your account being hacked or your items being stolen. This also means players can sell their in-game value for real currency.
5. Gambling
Another form of gambling that is becoming increasingly popular is iGaming. Crypto casinos offer anonymity and privacy. They are used by players who live in areas where online gambling is illegal because players usually do not have to register their data to open or use an account.
However, all players can benefit from the reduced risk that comes from not having to provide their bank account details to online casinos, as well as the bonuses offered on these sites.
6. Invest
NFTs, or Non-Fungible Tokens, are unique digital assets that can be, and regularly are, traded. NFTs can be anything digital, including digital art, music, and even some memes. Some NFTs sell for hundreds of thousands of dollars, but in addition to buying and selling, you could potentially create your own.
Most NFTs are launched on the Ethereum network, although Solana is another popular option and there are many other choices available. If you are a digital musician, you could record and sell your own music NFTs. If you know how to use Photoshop, you can create digital art NFTs.
You don’t have to create or trade NFTs to profit from them. In fact, it’s unlikely that the person or group who paid $91 million for The NFT Merge Collection will see a profit from the purchase. Some people buy them to own a piece of Internet history.
7. Start your cryptocurrency
Cryptocurrency is decentralized. This offers many benefits to users and also means that virtually anyone can set up their own cryptocurrency. This is possible thanks to layer 2 cryptocurrencies, which are those that are set up on an existing blockchain network.
And there are many options when it comes to choosing a network to set up a new cryptocurrency on. Bitcoin’s Lightning Network has become a very popular option, while Ethereum and Solana are also popular choices. To do this, you typically need to use the top layer cryptocurrency to set up the layer 2 currency, so if you want to use Ethereum, you’ll need Ether to pay for the privilege.
However, creating a new cryptocurrency is only half the battle. You will need to give potential buyers a reason to invest in it, market the cryptocurrency, and then operate and maintain it. Some new cryptocurrencies become very popular indeed, but many also fade into obscurity. If you have a good use case and a solid whitepaper, this could be a lucrative and ingenious way to use your cryptocurrency, otherwise it is unlikely to go anywhere.
8. Suggestion Makers
One way cryptocurrency was commonly used in its early days was to tip content creators. Both the content creator and the tipper needed a wallet, and the sender needed cryptocurrency, but the transaction was kept private. Today, you can tip creators in the same way, and you may see some creators posting links to their wallet addresses.
If you’re a creator yourself, this could be a good way to earn a few extra bucks from your efforts. Post a QR code and physical address with your content, and grateful content consumers might be inclined to send you a few bucks, and these tips can add up.
9. Get your favorite sports teams involved
Fan tokens are another category of cryptocurrency tokens, this time offered by sports teams and other groups and individuals. In addition to allowing the buyer to show their support for the recipient, the team or individual can use the capital raised from the initial sale.
And in exchange for that support, some teams offer perks like the chance to meet players, early access to tickets, or even vote on team-related issues. Some major sports teams already offer tokens for fans, and they’re especially popular for esports teams.
Conclusion
Cryptocurrency and the blockchain technology that underpins it are still in development, and the ways in which tokens and currencies can be used continue to increase. Bitcoin’s original goal was to become an alternative means of paying for goods and services, and while it still has a long way to go to compete with fiat currencies in this regard, it has found some innovative and unique uses along the way.
The subject matter and content of this article are solely the opinions of the author. FinanceFeeds assumes no legal responsibility for the content of this article and does not reflect the views of FinanceFeeds or its editorial staff. The information does not constitute investment or financial advice or an offer to invest.
As the cryptocurrency market continues to expand, investors are constantly looking for new opportunities to maximize their returns. Pepe (PEPE), a meme coin inspired by the iconic Internet character Pepe the Frog, has been a staple in the meme coin arena. However, recent developments have shifted some investors’ attention to a promising new competitor: MPEPE (MPEPE). Currently trading at $0.0007, Mpeppe is attracting significant interest from those looking to diversify and capitalize on the next big thing.
Pepe’s appeal (PEPE)
Pepecoin (PEPE) has carved out a significant niche for itself in the cryptocurrency market, largely due to its vibrant community and roots in internet meme culture. Drawing inspiration from the popular meme character Pepe the Frog, Pepe (PEPE) has captured the attention of cryptocurrency enthusiasts and meme enthusiasts alike. This fusion of humor and community spirit has been instrumental in its rise within the cryptocurrency space.
The continued success of Pepecoin (PEPE) can be attributed to its active and dedicated community. Holders of the coin are known for their enthusiastic promotion on social media platforms, which helps maintain its visibility and popularity. This strong community support has been instrumental in sustaining Pepe (PEPE)’s momentum and driving its market performance. Recent whale activity, such as a massive transfer of 9 trillion PEPE tokens valued at $82 million to Bybit, further highlights the coin’s potential for significant price movements driven by large-scale transactions.
Mpeppe (MPEPE): the rising star
Mpeppe (MPEPE) differentiates itself by merging the realms of sports and cryptocurrency. Drawing inspiration from soccer sensation Kylian Mbappé and leveraging the legacy of the Pepe (PEPE) meme coin, Mpeppe offers a unique appeal that resonates with both sports fans and cryptocurrency investors. This innovative fusion is attracting a diverse and engaged audience, fostering a vibrant community around the token.
A large ecosystem
Differentiating itself from typical meme coins, Mpeppe (MPEPE) features a robust ecosystem that includes gaming and sports betting platforms, NFT collectibles, and social interaction features. These utilities provide real value to users, creating multiple channels for engagement and investment. This comprehensive approach positions Mpeppe as more than just a meme coin, offering a richer and more engaging experience for its users.
Investment Potential of Mpeppe (MPEPE)
Strategic Tokenomics
Mpeppe (MPEPE) has been strategically priced at $0.0007, making it accessible to a wide range of investors. Tokenomics is designed to support long-term growth, with allocations for presales, liquidity, and sports activities. This strategic distribution ensures stability and promotes community engagement, positioning Mpeppe for substantial growth.
Analysts’ optimism
Market analysts are optimistic about the potential of Mpeppe (MPEPE). The coin’s innovative approach, strong community, and strategic partnerships are expected to drive significant price increases. Early investors stand to benefit from substantial returns as Mpeppe gains traction in the market. Analysts note that Mpeppe’s combination of utility and community engagement positions it well for future growth, especially as the cryptocurrency market continues to evolve.
The impact of similar competing businesses
Driving Innovation
Competition between similar assets such as Pepe (PEPE) and Mpeppe (MPEPE) is a catalyst for innovation. Each project strives to outdo the other, resulting in continuous improvements and new features. This dynamic competition benefits investors, offering them better and more advanced products.
Market diversification
Having multiple competing assets in the market promotes diversification. Investors have more options to choose from, which can help spread risk and potentially increase returns. The presence of strong contenders like Pepe (PEPE) and Mpeppe (MPEPE) ensures a vibrant and resilient crypto ecosystem.
Increased market interest
Competition between similar assets also generates increased market interest. As projects compete for attention, they attract more investors and media coverage, leading to increased visibility and adoption. This increased interest can drive further investment and growth in the sector.
The Future of Mpeppe (MPEPE)
Strategic development
Mpeppe (MPEPE) has a clear and ambitious roadmap for the future. Development plans include expanding its gaming and sports betting platforms, launching new NFT collections, and forming strategic partnerships. These initiatives are designed to improve user experience and drive market growth.
Community Growth
The success of Mpeppe (MPEPE) will largely depend on its ability to build and sustain a strong community. By focusing on engagement and providing valuable utility, Mpeppe aims to foster a loyal and active user base. This community-driven approach is expected to play a significant role in its long-term success.
Conclusion: A New Horizon for Meme Coin Investors
In conclusion, while Pepe (PEPE) has established itself as a significant player in the meme coin market, Mpeppe (MPEPE) offers a fresh and innovative approach that is capturing the interest of investors. With its strategic pricing, comprehensive ecosystem, and potential for high returns, Mpeppe (MPEPE) represents an exciting opportunity for those looking to diversify their cryptocurrency portfolios. As always, investors should stay informed and consider multiple factors before making investment decisions. Embrace the potential of Mpeppe (MPEPE) and join the journey to new rewards in the cryptocurrency world.
For more information on the pre-sale of Mpeppe (MPEPE):
Visit Mpeppe (MPEPE)
Join and become a member of the community:
Italian: https://t.me/mpeppecoin
Italian: https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ
- The Golem project has moved over $124 million in ETH for staking.
- Ethereum staking frenzy has increased ahead of the launch of spot ETH ETFs in the US.
Ethereal [ETH]The Project Golem-based distributed computing marketplace has joined the ETH staking frenzy.
On July 11, contrary to its recent sell-off, the company reportedly staked 40K ETH worth over $124.6 million, according to Lookonchain data.
Golem Network has confirmed its Ethereum staking initiative and said its purpose was to “create space” to help participants contribute to the network.
“The Golem Ecosystem Fund is officially launched today! We have staked 40,000 ETH from Golem’s treasury. This will create a space where developers, researchers, and entrepreneurs can bring their ideas to life and contribute to the Golem Network and its ecosystem!”
Ethereum Staking Frenzy
The staking frenzy has infected Ethereum, with just days to go until the potential launch of a spot ETH ETF in the United States. Recently, an unmarked address blocked over 6K ETH.
The Golem project’s decision to lock up 40K ETH on July 11th pushed the total ETH locked up to Chain of lights at an all-time high of 47.5 million ETH, worth over $140 billion based on market prices at press time.
Beacon Chain is Ethereum’s system that manages the validation of new blocks.
Source: Etherscan
According to a recent AMBCrypto relationshipIncreased ETH staking ahead of the debut of the ETH spot ETF in the US has underscored bullish sentiment.
More ETH has been moved from exchanges, further strengthening bullish expectations.
Meanwhile, from a short-term perspective, many addresses were losing at the $3.2K and $3.5K levels. Investors could try to take a profit if they break even.
These prices represent key levels to watch in the short term.
Source: IntoTheBlock
Next: Why Bitcoin Must Surpass $61K Soon, According to Analysts
As the cryptocurrency space turns bearish, giants like Chainlink and Fantom are facing setbacks with declining trends for LINK and FTM. Amid these changes, BlockDAG emerges as a prime target due to its promising pre-sales and long-term prospects. This Layer-1 project boasts an innovative Low Code No Code ecosystem, attracting investors with potential ROIs exceeding 30,000x. The pre-sales momentum has already accumulated over $57.6 million, driven by growing investor enthusiasm.
Impact of Chainlink’s Recent Token Release
Chainlink’s recent move to release 21 million LINK tokens, worth approximately $295 million, from its dormant supply contracts has significant market implications. This release sent 18.25 million LINK to Binance, fueling speculation that the price will drop. LINK is currently trading at $13.64, approaching its critical support at $13.5, with the potential to drop to $10 if this level breaks.
These releases, increasing the circulating supply above 600 million LINK, have previously maintained price stability, but the prevailing bearish conditions could alter this trend. With 391.5 million LINK pending release, market caution persists.
Fantom (FTM) Market Position Dynamics
Fantom experienced a strong buying spree last November, but its valuation has been challenging lately. After peaking near $1.20 in March, subsequent resistance and profit-taking pushed its price lower. FTM recently dipped below the crucial $0.600 mark but found some ground around $0.500. Fantom is currently valued at $0.559 with a market cap of $1.67 billion and daily trading volume of $257.56 million.
The Fantom Foundation’s decision to award over 55,000 FTMs quarterly to major dApps on the Opera network has invigorated user participation. Indicators such as RSI and MACD suggest a possible bounce if it surpasses the $0.600 mark. Failure to break above the 200-day EMA could prolong the bearish outlook.
BlockDAG Pre-Sale Triumph and Innovative Platform
BlockDAG’s pioneering low-code/no-code platform enables the seamless creation of utility tokens, meme tokens, and NFTs, catering to a broad user base. Its intuitive templates allow enthusiasts to quickly launch and customize projects, thereby democratizing blockchain development and accelerating market entry.
The cutting-edge features of this platform have attracted cryptocurrency investors, significantly increasing the interest in the presale. BlockDAG has successfully raised over $57.6 million, witnessing a 1300% escalation in the coin’s value from $0.001 to $0.014 in its 19th batch. This impressive rise underscores the immense return potential of BlockDAG for early backers.
Additionally, BlockDAG’s commitment to expanding its ecosystem extends to supporting the development of decentralized apps. This fosters a wide range of new projects in the blockchain domain, from digital art platforms to tokenized assets, enriching the blockchain ecosystem.
Key observations
While Chainlink and Fantom are currently navigating bearish trends due to token releases and resistance hurdles, BlockDAG’s innovative low-code/no-code framework positions it as an attractive investment option. With a presale raise of over $57.6 million and prices skyrocketing 1300% in recent batches, BlockDAG shows tremendous potential for returns of up to 30,000x. Amidst the market volatility impacting Chainlink Tokens and Fantom, BlockDAG stands out as a promising avenue for cryptocurrency traders.
Sign up for BlockDAG Pre-Sale now:
Website: https://blockdag.network
Pre-sale: https://acquisto.blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: Italian: https://discord.gg/Q7BxghMVyu
Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the reliability, quality and accuracy of any material in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your own research and invest at your own risk.
The DEX aggregator Anger Trading is about to issue its RAGE token on the new Layer 1 blockchain Hyperliquid. The token sale is scheduled for August 7, with 20 million tokens out of a total supply of 100 million available on Fjord Foundry at a fixed price of $0.30.
Additionally, the “Rage Quit” feature has been introduced, which allows private investors to get their allocation early by accepting a 60% cut.
RAGE will be among the first tokens to be launched on Hyperliquidmarking a significant moment for this new blockchain. Let’s see all the details below.
DEX News Rage Trade: New RAGE Token Arrives on Hyperliquid
As expected, decentralized exchange (DEX) aggregator Rage Trade has announced the issuance of its new token ANGER. The launch is happening through a liquidity generation event and token sale on Fjord Foundry, scheduled for August 7th.
The token will be launched on the newly launched layer 1 blockchain Hyperliquidwhich has rapidly gained popularity due to its decentralized perpetual exchange.
Rage Trade currently aggregates platforms such as GMX, Synthetix, Dydx, Aevo and Hyperliquid, allowing traders to manage their positions across multiple blockchains and earn incentives.
During the event, 20 million RAGE tokens will be sold at a fixed price of $0.30, while another nine million will be used to inject liquidity into Hyperliquid.
Additionally, six million tokens have been reserved for future market making and product development incentives.
The token will have a total supply of 100 million, with 20% earmarked for sale and 30% for community treasury. The latter is subject to a 12-month lock-up period and a 24-month linear release.
The “Rage Quit” feature introduces a deflationary mechanismThis allows private investors and recipients of the air launch to receive their assignment after an initial three-month stalemate, accepting a 60% cut.
Rage Trade has chosen Hyperliquid as the platform for its token after the network became the preferred choice of users of the Anger Aggregatorwith over 1,300 users generating $445 million in volume.
Hyperliquid surpasses dYdX in TVL
Hyperliquid, the exchange decentralized based on Referee, recently introduced a new points program, which has catalyzed significant growth in total value locked (TVL) on the platform.
According to data from DefiLlama, Hyperliquid has reached a TVL of $530 million, surpassing dYdX’s $484 million and reaching a new all-time high.
This figure places Hyperliquid in second place among derivatives platforms, just behind GMX, which maintains a TVL of $542 million.
Rounding out the top five platforms by TVL are Solana-based Jupiter with $415 million and Drift with $365 million. Hyperliquid had a stellar year in 2024, jumping from eighth to second place in just six weeks.
This rapid increase was largely attributed to the new Hyperliquid points program, which launched on May 29.
The points program provides for the distribution of 700,000 points weekly for four months. With an additional 2 million points awarded for activity between May 1 and May 28.
Despite community criticism over the decision to extend the incentive program and delay the token launch and airdrop, the platform has continued to attract numerous traders.
From Perpetual DEX to Layer 1
Steven, founding member of Capital Yuntwhich has backed some of the largest cryptocurrency firms, including Zerion, noted that Hyperliquid has distributed approximately 51 million points in four periods.
He further stressed that the project aims to reward its early adopters and move from simply being a perpetual DEX to a true Layer 1:
“The team is clearly making an effort to communicate that Hyperliquid is an L1 and not just a DEX for derivatives.”
Furthermore, he highlighted that the token holders PURSUE were significantly rewarded, with a 23% increase in the token’s value.
PURR was the first spot token launched on Hyperliquid and looks set to continue receiving attention and incentives from the platform.
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