ERC-404 Experiences Impressive 30% Surge, Breaks $32k Milestone
The hype surrounding ERC-404 tokens has led to a significant surge in the value of the Pandora project token (PANDORA).
Based on data from CoinMarketCap, PANDORA has experienced a rapid growth of 30% in the past 24 hours, reaching $32,800 at the time of writing. The trading volumes for these tokens have also seen explosive growth, surpassing the $100 million mark.
Remarkably, the token’s value surpassed $32,000 just one week after its launch. Within less than a week of its creation, the ERC-404 trading volume on decentralized exchanges (DEXs) and non-fungible token (NFT) platforms exceeded an impressive $210 million, as reported by Dune.
To further support the ERC-404 standard, Binance, a prominent cryptocurrency exchange, has integrated ERC-404 support into its Web3 Wallet. This development came after Binance added 19 new apps to its Web3 Wallet.
Additionally, OKX, another cryptocurrency exchange, has announced that ERC-404 tokens are now available on the Web3 platform.
Pandora stands out as the first token to be issued based on the experimental ERC-404 standard. It represents a unique combination of ERC-20 and ERC-721, wherein an NFT automatically appears in the wallet upon purchase. These new standard tokens aim to enhance liquidity by allowing holders to sell them on DEXs, rather than listing NFTs for sale on any marketplace.
For more information, check out the article “Memecoin craze sees one trader reap over 100k in profits on newly listed DEFROG”.
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