The altcoin market is preparing to host a series of exciting developments this weekend. Token burns, airdrops, mainnet migrations, governance votes, and major events include a range of events that will attract investor attention and cause market volatility. This intensive program offers a remarkable opportunity for those who invest and are interested in the altcoin field. By following developments and making informed investment decisions, it may be possible to make the most of this exciting period. In our news, we have compiled for you some of the important developments that came to the fore this weekend.
Watch out for those altcoin projects
- Token Burns: Escoin (ELG) will burn 25 million tokens on May 25 at 11:00 UTC. Additionally, Mobox (MBOX) will burn 10,500,000 eMDBL and 20,000 $MERL in the M-DragonBall Burning event, which runs from May 20 to May 25.
- Airdrop: Energy Web (EWT) will airdrop 50,000 EWT to participants over a three-month period starting May 25. Stride (STRD) will distribute 150,000 STRD airdrop to those who hold stDYDX for 120 days, starting from January 30.
- Mainnet Transfers: VeChain (VET) will move B3TR and VOT3 tokens from the testnet to the mainnet on May 26.
- Management Ratings: Mantle (MNT) will complete the ongoing voting process on May 28. Covalent (CQT) is organizing a BSP Staking Max voting that will continue until May 29.
- Updates: Mantle (MNT) has extended the MShard request period for the sharding event to May 25. Immutable X (IMX), on the other hand, has removed gas fees for players on zkEVM until September 2024.
- Other Important Developments: The VivaTech conference will take place from May 22 to May 25. The ETH Berlin event will continue from May 24 to May 26. The Horizen (ZEN) community will vote on the ZenIP-42405 proposal from May 23 to May 26.
Latest situation in the market
Meanwhile, Bitcoin’s price has experienced some serious price swings over the past few days, falling below $66,500 before rising to just over $69,000 last night. Altcoins are also slightly green on the daily scale. UNI rose over $10 with a massive 20% increase, while PEPE charted a new high. The most important news in the cryptocurrency industry this week came from the US Securities and Exchange Commission and affected ETH the most. The regulator approved eight spot Ethereum ETFs on Thursday, which, along with excitement over the news, led to a major rally for the underlying asset. ETH rose from $3,100 on Monday to above $3,900 in midweek and then fell slightly to the current $3,750.
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