Dymension (DYM) stunned the markets in just two hours of its mainnet debut with a shocking 50% increase in price. The launch came along with a massive $390 million of DYM tokens that were airdropped. Massive trading volume was observed for the project, with data from CoinMarketCap showing over $412 Million in volume.
The token is currently trading at a price of $6.041, up 32.35% compared to the launch price. These launch numbers have managed to stock the market as the Dymension rollapp creation platform was launched in late January 2024. As of today, the DYM token has entered the top 100 cryptos by market cap showcasing massive investor confidence.
The DYM mainnet was initially launched on 5th February 2024, but issues were reported soon after launch due to consensus issues. The ecosystem’s largest validator, Chorus One, reported node issues that impacted its participation. The validator holds 34.8% of the voting power on the network.
A key factor behind the massive success of the project was the $390 Million airdrop that was claimed by more than a million wallets. Even though transfers were made in February, claims were made in early January, where 528,523 wallets were applied. These tokens were then distributed to other users.
With the wild success of the Dymension (DYM) mainnet, investors are now looking toward other promising projects that can offer similar returns.
Algotech (ALGT) Emerges With Potential to Create New Millionaires in 2024
Similar to the way Shiba Inu (SHIB) and Dogecoin (DOGE) allowed thousands of traders to maximize their investments, Algotech (ALGT) has emerged as the next opportunity for traders. Traders have the opportunity to step in and become an early member of the ecosystem. The project is currently in presale for $0.04 but is expected to go as high as $1 by the end of the year.
Previously, Algotech (ALGT) rounded up a successful private seed round with over $1.1 million in funding. Standout features of the project have been the groundbreaking fusion of AI technology and DeFi. The TradFi platform will enable traders to access cutting-edge strategies, including breakout identification, hedging, and mean reversion.
The project has also received praise for its community-centric tokenomics. Holders will have governance rights and a share of the project’s profits. Due to these features, the project has emerged as the standout choice for investors looking for the next big opportunity.
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The post Dymension (DYM) Mainnet Launches With Explosive Price Action appeared first on BitcoinWorld.
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