Disclaimer: This is a sponsored content and press release. KoinFinans.com cannot guarantee the accuracy of the content on this page provided by the relevant company and cannot be held responsible for any damages that may arise from the products and services on this page. Cryptocurrency investments involve high risk, readers should conduct their own detailed research before making any transactions.
A crypto wallet affiliated with Tron blockchain founder Justin Sun recently withdrew $13.8 million worth of Ethereum from Binance. This transaction raised the following question in the minds of many crypto investors: Is Sun, which also has partnerships with high-profile companies such as Samsung, Poloniex and BitTorrent, purchasing new tokens on-chain?
The famous billionaire shared a post on X last May and stated that he wanted to invest in meme coins. However, he reminded his followers that his investments do not constitute financial advice and that these projects are not guaranteed to be listed on any stock exchange.
I’ve decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.
NEWS CONTINUES BELOW— HE Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
It is important for investors to do their own research. Nevertheless, the investment movements of people related to cryptocurrencies are known as trending news. In this context, Sun’s public crypto wallets are being followed. Sun keeps $500 million in crypto assets, including his meme token portfolio, in a wallet at DeBank. Additionally, the wallet contains the following meme coins:
- Shiba Inu (SHIB) $6 million
- FLOKI (FLOKI) 800 thousand dollars
- Baby Doge (BabyDoge) 500 thousand dollars
- Pepe Coin (PEPE) 78 thousand dollars
Another token in Sun’s wallet made headlines in some crypto media outlets and became one of the best performers of December. It experienced a 112 percent increase last week. This token became the Sponge token (SPONGE), which came to the fore with its new version. According to the information on Etherscan, the account named Justin Sun 4 is the 13th largest owner of SPONGE worldwide.
Investors seem to be convinced to purchase Sponge Token V2, the new token of the Sponge network, after this news. SPONGEV2 token is considered as one of the coins with high potential in 2024. Let’s take a closer look at the details of this meme coin.
Sponge V2 (SPONGEV2) – Offers a New Chance to Meme Coin Investors
Many are speculating that the Tron founder’s acquisition could be a sign of an impending SPONGE run. Sponge’s entire ecosystem has been renewed in recent weeks, and as part of this renewal, Sponge V2 token was introduced.
SPONGE meme coin was introduced in May. It was inspired by the popular SpongeBob SquarePants character. Once the SPONGE coin was listed on Uniswap, the project became an instant success. The price of the token rose to an all-time high of $0.0023 on May 7.
This rise gave early investors a 100x return and made SPONGE one of the most exciting meme coins of the year. However, like most viral meme coins, SPONGE’s price fell on its own after its initial investors made a profit.
The success of the original SPONGE token lays the foundation for the Sponge V2 token introduction. This new version tries to use the original coin as a springboard. It opens up new use cases and connection opportunities for loyal owners and early adopters. It also offers investors the investment opportunity they missed in May.
Sponge V2 token is an ERC-20 meme coin. It runs on the Ethereum network. Therefore, it is known to have low transaction fees.
Sponge V2 Token Brings Significant Innovations to the Network
One of the most important innovations is known as the stake-to-bridge function. This functionality allows existing SPONGE holders to lock their tokens and earn passive income by staking with SPONGEV2. In other words, the owner of tokens from the original version of the cryptocurrency exchanges them to receive tokens from the new version.
Additionally, by purchasing Sponge Token V2, users can also have a play-to-win game. Thus, the project will appeal to both crypto lovers and game lovers. A free version of the game will also be offered to users. Thus, an additional factor will emerge that will stimulate demand for the token.
However, SPONGE isn’t just attracting the attention of high-profile investors. At the same time, well-known crypto influencers also noticed the token. For example, YouTuber ClayBro, who has over 116 thousand subscribers, recently published a video expressing his excitement about SPONGEV2’s staking capabilities.
Sponge V2 Tokenomics
The total supply of Sponge V2 is set at 150 billion tokens. Of these, 40.4 billion Sponge V2 tokens (26.93 percent of the total supply) can also be staking with Sponge tokens and are reserved for investors taking part in the pre-sale.
The remainder of the supply is allocated to staking rewards (43.09 percent of the total supply). 10 percent of the total supply was allocated to provide liquidity in decentralized exchanges, 7.5 percent for marketing costs, 4.47 percent for game development, and 8 percent of the total supply for game rewards.
Conclusion
Sponge V2 token has earned a place in the list of the best meme coins to invest in with its exponential growth potential. Purchasing Sponge Token V2 offers users a unique way of staking-to-bridge model.
Additionally, the token’s creators outlined a three-stage roadmap with goals such as listing on major exchanges and reaching $100 million in market capitalization.
Click to review Sponge Token V2 token.