Today, many altcoin projects such as Polkadot (DOT), MOON have experienced an increase. Here are the details and possible reasons for the rise…
DOT rose 6 percent
Surprisingly, Polkadot’s native cryptocurrency, DOT, has experienced a strong rally, gaining over 6.25 percent in recent hours and is currently trading at $5.50. This marks a significant trend reversal from the recent low of $3.50, with an impressive increase of over 55%. The Web3 Foundation, which is closely associated with the Polkadot network, announced a groundbreaking move in the crypto space by allocating $1 million to US treasury bills tokenized on-chain through Anemoy, a project operating on the Centrifuge Chain.
Web3 Foundation, known for its commitment to advancing the Polkadot ecosystem, has joined the growing trend of crypto development teams allocating treasury assets to real-world assets. In a new announcement on Nov. 29, the Foundation announced plans to pilot a $1 million pilot investment in U.S. treasury bonds, leveraging Anemoy’s capabilities at Centrifuge Chain.
MOONS are on the rise with Reddit’s supply limit
In another corner of the crypto space, Moons, the cryptocurrency token associated with Reddit’s r/cryptocurrency community, experienced a double-digit increase after Reddit officially abandoned the Moons contract. As part of this process, the social media platform burned the remaining 98,000 Moons tokens, effectively placing a hard cap on its supply of approximately 83 million Moons. The r/cryptocurrency subreddit’s mod team hails this move as a “major milestone” and assures that no further changes will be made to the Moons contract in the future. The current price of Moons is $0.158456 and is up 11% in the last 24 hours.
OX rise triggered by Zhu Su’s tweet
On December 1, Zhu Su, co-founder of Three Arrows Capital, made a return to social media by saying “good morning” after a 9-week silence. This resurgence has coincided with a significant 40% increase in OX’s value in the last hour and it is currently trading at $0.02073. This development follows earlier reports of Zhu Su’s alleged arrest in Singapore, highlighting the impact of his social media presence on market dynamics.
Rise in AIMEME project
On the other hand, today witnessed a sharp rise in LBank’s third phase Launchpad project AIMEME. The token opened at 0.01 USDT and within half an hour it skyrocketed to 0.1542 USDT, recording a spectacular increase of more than 15 times its initial price. LBank reported significant participation with 61,005 users and total investment exceeding 95 million USDT.
BOUNCE rose 10 percent
Finally, on December 1, market data revealed a significant increase in AUCTION, the native token of decentralized auction platform Bounce Finance, reaching $13.5 and currently trading at $13.12. This increase of over 10% in 24 hours follows the recent launch of BounceBit, a DeFi solution designed specifically for the Bitcoin ecosystem and powered by AUCTION and Binance Bitcoin (BTCB).
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