Top Meme Coin Sees Price Growth As Investors Brace For 11PM Sponge V2 Bridging Deadline – Only Hours Left to Stake
Top Meme Coin Sees Put Progress As Traders Brace For 11PM Sponge V2 Bridging Minimize-off date – Easiest Hours Left to Stake
Monday, February 5, 2024 – Main 2024 meme coin Sponge token is racing in direction of its Sponge v1 staking closing date at 11PM UTC – so don’t fail to plan your final probability to stake and qualify for Sponge V2.This comes as the extremely anticipated closing date for the transition from Sponge V1 to Sponge V2, to facilitate its original gaming ecosystem, is due to the plan end build at 11:00PM on Monday, February Fifth.This migration from Ethereum to Polygon marks the cease of the first iteration of the indispensable-loved Sponge V1 token, which is due to the be phased-out and defunded later this day, and heralds the appearance of the successor V2 token.
On the present time is your final probability to stake your $SPONGE V1 tokens sooner than the transition to #SPONGE V2!
⏰ Minimize-off date: Fifth February 11 PM UTC
Whenever you put no longer stake your $SPONGE tokens you will no longer recieve any #SPONGEV2.#MemeCoin #Presale #Web3 #Crypto #Binance #Altcoins pic.twitter.com/IUSHYrv014
— $SPONGE (@spongeoneth) February 5, 2024
Evaluation of the determination emigrate to a original token has viewed the move labeled ‘bullish’ by crypto analysts, with the transition aiming emigrate the neighborhood onto a extra bag and efficient blockchain atmosphere.
The determination became as soon as expedited following an exploit against the distinctive Sponge dapper contract – which necessitated an accelerated move to V2 due to the a liquidity unencumber dwelling for February sixth.
By engaging to the Polygon community, Sponge V2 no longer most productive delivers cheaper and quicker transactions, nonetheless moreover limits the scope of affect from the ERC-20 dapper contract hack.
Yet, the benefits of the transition to a Polygon-essentially based fully fully model don’t cease there, with the replace to Layer-2 at risk of bolster the project’s thought to express a decentralized play-to-put sport.
Certainly, whereas a MATIC transaction costs between 0.1 and 0.5 MATIC (spherical $0.077-$0.30 USD), an Ethereum transaction normally costs spherical $2.50 USD – highlighting the massive savings afforded by the move.
Traders Flood By The Door: Much less Than 12-Hours To Stake SPONGE Token Till Polygon Migration
The speed to bag a reduce of the Sponge V2 pie is on, and as a diagram to bag the original Sponge V2 tokens, holders and merchants possess two alternate choices accessible.For label spanking original entrants, Sponge V2 tokens will even be bought with a straightforward buy the use of ETH, USDT, or fiat by the Sponge.vip web subject. Purchased tokens wishes to be staked, on the opposite hand, in the respectable staking pool to be redeemed 1:1 for Sponge V2 tokens.For the 13,000 long-standing holders of the distinctive $SPONGE token, any holdings wishes to be bridged to Sponge V2 by the straight-forward staking mechanism.Procuring and selling on centralized exchanges will moreover cease after this day, and holders are being requested to withdraw their $SPONGE tokens from exchanges and stake them on https://spongetoken.vip/ sooner than the snapshot closing date at 11PM UTC tonight.For of us that fail to stake their tokens, V2 swaps are peaceable accessible, even supposing at a standardized 1:1 swap ratio – without extra token yield from the staking mechanism.
Certainly, the numbers discuss for themselves, with the radical staking mechanism gaining indispensable traction due to the the sight-catching 211% staking APY – which affords a market-defying different to supersize returns on the brief timeframe.A gigantic 7,676,212,335 $SPONGE tokens are already poised for bridging to Sponge V2 as the Sponge neighborhood embraces the move (valued at a whopping $5.7m USD).
Meme Coin Markets Rally As Optimism Grows For Sponge V2 Token
Amid the burgeoning success of the Sponge V2 transition, market self belief has grown in the Sponge project, and this has ended in token cost appreciation over the final week.On the 2nd procuring and selling on a week-on-week succeed in of +13.3%, Sponge token is standing at a market designate of $0.0006784 earlier than the cease of the V1 staking.This sees Sponge token procuring and selling at a premium to comparably current meme money corresponding to Shiba Inu (SHIB), which has viewed losses of -0.65% in the identical time-frame.
(Sponge – Blue, SHIB – Orange)
Sponge token’s solid outperformance has been fuelled predominantly by anticipation of a 2nd Sponge bull-speed this year following the transition.Traders predict Sponge V2 to parrot the astonishing surge up to $100M market cap that became as soon as undertaken by the distinctive Sponge token in Spring 2023.
So don’t fail to plan the most anticipated meme coin vertical shake-up of February 2024.
Join staking to bag your Sponge V2 – sooner than it’s too unhurried, and note Sponge on Twitter and Telegram right here.
Buy Sponge Right here
Disclaimer: Crypto is a high-risk asset class. This text is geared up for informational functions and does no longer characterize funding advice. That you may perchance well lose your total capital.
Source : cryptonews.com
