Not all speculation but we are seeing the next evolution of Real World Assets (RWA), projects tied to revenue generated from other project launches, and projects that give incentives to HODL much like HIVE Power gives us more power in this system some of these projects are charging a 3% tax for instance and part of that is being sent back to the holders of the token. So for instance on this DEGS is paired with tokenized Silver so for instance in a situation where crypto sags it would be conceivable that gold and silver might not be experiencing this same pull back. If DEGS was paired with Solana and the whole crypto market pulls back it is like the tide all goes out.
So essentially with this one Silver is being paid back to those holding and the major catalyst for the price pumps was the fact that the https://www.stonkfun.xyz/ launch pad got accolades from Raydium and Solana and there is a supposed investment from the Solana Foundation so people started buying up the projects that were launched there and it sort of caused a flywheel effect and also a lot of people were making big gains on the new Robinhood chain but the fees started getting bad there and the fun was over so they needed to rotate out to somewhere else and stuff on the Binance Smart Chain had previously burned hot so suddenly the Solana based assets started to pop off.
I'm going to do a bigger write up about the FOMO platform but it's a mobile app or you are able to access it from your browser at https://fomo.family/
It's pretty cool because there is a lot of energy sloshing around on there and it's across a lot of different chains but the bridging is in the background and so clean that you don't even think about how you are going to get money over there. You are able to just buy and follow others and see when they bought and sold stuff.
I'm going to do a bigger post right now about it. I hope that helps!
So like a pumpfun with a RWA project....thanks for the explanation. Looking forward to your post.
Yeah so it's a more advanced launch pad in the respect that you can pair it with something like Nvidia Stock or Apple Stock or Silver for instance in this situation.
I would say the one thing is there is counter party risk. With this Silver I'm sort of trusting the company that is keeping these bars in custody and they are saying in 3 months people can redeem the silver for physical silver but right now I have mainly been watching the peg to see if it would hold which it seems to stay with in a couple of dollars and obviously the silver market isn't open right now so it maybe is staying close the last known trades from last Friday.
Right now the project with the biggest market cap that has launched there is
https://www.coingecko.com/en/coins/anonymous-cat?chart=type%3Dprice%26mode%3Dline%26timeframe%3Dd7
$122 Million market cap and this is the first day it got listed on CoinGecko and it is on no listing on any Centralized Exchanges. That is one of the big thing now. These things can really crank up from this social trading before it is really visible to people on stuff like Coinbase or Kraken or any of that.
Also STONKFun is generating a bunch of revenue and they are buying up tokens to top projects on their platform and burning them so it creates a flywheel effect.
On a side note..what is your take on the condition of Hive at the moment? You should get back to posting videos...