Bybit Web3, the Web3 division of Bybit and one of the top global crypto exchanges, announced an Initial DEX Offering (IDO) for Thetanuts (NUTS) on its platform.

The SPX index was up 0.48%. This optimism persisted despite higher-than-expected producer inflation in April and revisions to March's data. Traders also considered comments from Federal Reserve Chair Jerome Powell about maintaining restrictive monetary policy. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 2.49% and 2.08%, respectively, in the past 24 hours.

Today’s outperformer is AR, which jumped 2.2% after Arweave Ecosystem Update Features New Migrations, Autonomous Trading, and Community Bounties.

Arweave (AR), launched in June 2018, is a decentralized platform for permanent data storage, leveraging its AR cryptocurrency to incentivize users and ensure data permanence. It offers easy web access and is developing moderation tools, with a key partnership with the Internet Archive highlighting its commitment to secure data preservation. Recently,  Arweave Weekly Digest features ar.io's migration to 

 to enhance scalability and introduces Autonomous Finance’'s trading bot for automated portfolio strategies. It also highlights Weavers Raid II with $10,000 in bounties for community projects. Additional updates include the first $AR token bridge via AOX, a partnership with Anchorage, and new educational and community engagement resources, including a podcast on Arweave infrastructure.

Check Out the Latest Prices, Charts, and Data of 

Bybit Web3, the Web3 division of Bybit and one of the top global crypto exchanges, announced an Initial DEX Offering (IDO) for 

 (NUTS) on its platform. Thetanuts, a leading DeFi options protocol that specializes in altcoin options, has become the top DeFi Options Protocol by TVL, exceeding $30 million. The IDO will run from May 13 to May 17, 2024, with the token listing on May 20. Eligible participants must maintain a minimum balance of 400 USDC in their Bybit Wallet during the snapshot period. A total of 66,660,000 NUTS tokens are allocated for the IDO from a total supply of 10 billion.

Cryptocurrency investment products saw $130 million in inflows, reversing a previous trend of outflows, with Bitcoin funds receiving the largest share. However, trading volumes decreased. Institutional investment in U.S. spot Bitcoin ETFs increased, highlighted by the State of Wisconsin Investment Board's significant purchases. This reflects a growing interest in digital assets among traditional financial institutions.

 after identifying and redistributing tokens from Sybil accounts to genuine users. The airdrop is set to launch on May 16, 2024, at 12 pm UTC. It includes an initial allocation and a bonus that vests over 6 hours to reduce network congestion and enhance user experience. This airdrop marks a significant move towards decentralizing Drift Protocol, empowering its community, and driving future development. Further details on eligibility and claiming are available on their website.

Beginner

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Bybit Web3 Announces IDO for Leading DeFi Options Protocol Thetanuts

Liquid restaking is a process whereby staked crypto assets are reused to secure additional blockchain protocols, enhancing capital efficiency and liquidity.

Liquid restaking presents a dynamic and effective method for 

) ecosystem. Through the creation of liquid restaking tokens (LRTs), staked assets are tokenized, allowing investors to maintain control over their assets while still enjoying rewards. This approach enhances liquidity and financial flexibility and optimizes the use of capital. 

In this article, we’ll explore liquid restaking, breaking down its core concepts and assessing both its benefits and potential risks in DeFi.

Liquid restaking is a process whereby staked crypto assets are reused to secure additional blockchain protocols, enhancing capital efficiency and liquidity. It allows investors to earn rewards from a restaking platform.

Liquid restaking tokens (LRTs) are digital assets that represent staked cryptocurrencies. They enable users to repurpose staked tokens to secure additional blockchain systems. Users receive LRTs when they deposit liquid staking tokens on a restaking platform. 

Liquid restaking introduces a fresh perspective to the world of cryptocurrency, building upon the principles of staking in a way that enhances efficiency and potential returns. At its heart lies the 

 (PoS) system, through which validators secure the network by 

 their cryptocurrency as collateral rather than via traditional 

. In this setup, validators validate transactions, add them to the blockchain and, in return, earn rewards proportional to their staked amounts.

But what really sets liquid restaking apart is its innovation in allowing staked assets to be “restaked” or reused to secure additional blockchain protocols. Holders of liquid staking tokens can choose to sell, trade or lend their assets on a DeFi platform. This system is made possible through a process known as rehypothecation, whereby the same collateral is used to back different activities.

EigenLayer introduced the concept of restaking tokens, enabling users to take their staked ETH and restake it with actively validated services (AVS). These services perform various functions, such as providing support for Ethereum scaling solutions and furnishing shared security. Networks that can't afford to create native validators can rely on the restaked tokens generated by larger Ethereum networks to handle consensus.

 (TVL) from investors, including amassing 

 of the total amount of Ether (ETH) in circulation within just two days after reopening deposits in February 2024. 

To support this process, staked assets are represented by LRTs, which are tokenized versions of the original staked assets. These tokens serve multiple purposes within the ecosystem, such as securing additional protocols or participating in governance. Just as staked tokens have 

 (LSTs) to preserve liquidity, restaked tokens gain liquidity from LRTs. 

The beauty of liquid restaking lies in its ability to enhance capital efficiency. Validators can earn additional rewards without the need to stake more assets, which improves the overall liquidity of the system. 

However, while liquid restaking offers the potential for higher returns, it also comes with increased risks. The rehypothecation of assets means that if one system fails, it could have a ripple effect on others secured by the same assets.

Liquid restaking brings both promise and caution to the blockchain space.

Liquid restaking and liquid staking are both innovative concepts, with profound implications for staking. They share the common foundation of operating within the PoS framework, whereby validators secure the network by staking their cryptocurrency rather than through traditional mining methods. 

Both systems aim to improve liquidity and capital efficiency within the blockchain space by tokenizing staked assets, enabling greater flexibility by their utilization. However, they differ in their scope and approach. Liquid staking primarily focuses on securing a single PoS blockchain, while liquid restaking extends this concept by using staked assets to secure additional blockchain protocols or applications, such as 

Liquid staking involves earning rewards solely from the staking process itself, while liquid restaking potentially offers additional profits by incorporating rewards from staking on the primary blockchain (such as Ethereum) and operations on platforms like EigenLayer. However, liquid restaking tends to be more complex due to the rehypothecation of assets, which may carry a higher level of systemic risk as compared to liquid staking.

Is Liquid Restaking Better Than Liquid Staking?

When weighing the merits of liquid restaking against those of liquid staking, it’s important to consider the trader's level of experience and their specific investment objectives. 

For beginning traders, liquid restaking may seem daunting due to its intricate mechanics and the added risks associated with rehypothecation. In this regard, liquid staking could be a more straightforward and safer entry point into the staking ecosystem.

On the other hand, experienced traders, accustomed to the complexities and risks of DeFi, might find liquid restaking more appealing. It promises the potential for higher returns and increased capital efficiency, which aligns well with the goals of those seeking to optimize their investments.

Liquid restaking is a better alternative to liquid staking for those who wish to actively participate in the Ethereum consensus process, and seek to leverage their staked assets beyond traditional staking rewards. However, this choice comes with added risk and complexity.

Liquid restaking offers a promising alternative to traditional liquid staking, particularly for those interested in actively participating in the Ethereum consensus process and maximizing their staked assets. By allowing staked assets to be repurposed across various protocols, liquid staking not only contributes to the security and efficiency of the Ethereum network but also opens up avenues for earning additional rewards.

Intermediate

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Liquid Restaking: A Better Alternative to Liquid Staking?

ZeroLend (ZERO) is a multichain lending and borrowing protocol specializing in RWAs and LRTs.

 and borrowing is the second-largest category in the decentralized finance (

. This gigantic niche has been among the driving forces of the DeFi revolution that began around 2017–2018. While there’s been no shortage of lending and borrowing protocols specializing in regular crypto tokens and 

, it’s challenging to find platforms that focus on specific assets.

ZeroLend (ZERO) is a new multichain protocol that aims to do just that. The project focuses on two specialized crypto assets — real world assets (

) and liquid restaking tokens (LRTs) — in its lending and borrowing operations. It also offers other innovative solutions, such as account abstraction, that dramatically simplify access to and management of DeFi assets and activities.

 (ZERO) is a multichain lending and borrowing protocol specializing in RWAs and LRTs.

ZeroLend was founded in 2023 and gradually expanded its Layer 2 coverage throughout early 2024. It's been backed by several prominent institutional investors, including Consensys, Polygon Ventures and Transform Capital.

ZeroLend allows users to lend and borrow funds using a variety of crypto assets, including RWAs, LRTs, stablecoins, high-cap cryptocurrencies (e.g., ETH or 

) and high-risk assets, such as GRAI, MULE and more.

Besides its key lending and borrowing operations, ZeroLend also offers its users account abstraction (AA) services. AA allows traders to carry out common DeFi activities in a user-friendly way without worrying about managing such underlying, low-level blockchain concepts as 

The ZeroLend platform offers lending and borrowing in a range of conventional crypto assets. These can be grouped into three broad categories. The first group is cryptocurrencies with 

 and liquidity levels of at least $100 million. Typical cryptos in this category include major assets such as ETH or WBTC. The second group consists of USD-pegged stablecoins, such as 

. Finally, there’s a category for smaller-cap cryptocurrencies, as well as typically risky cryptos. These three groups are in addition to specialized assets, namely LRTs and RWAs, which we'll cover below.

One of the cryptocurrencies available for borrowing via the ZeroLend ecosystem is 

, a USD-pegged crypto minted by providing collateral in ETH or stablecoins. Thanks to overcollateralization, each ONEZ is backed by more than $1. Being safely overcollateralized and pegged to the U.S. dollar, the ONEZ token is a valuable asset for DeFi users looking for stability amid the inherent volatility of decentralized crypto trading.

Borrowed funds on the ZeroLend protocol can be subject to 

. This is designed to protect liquidity providers and support the overall financial viability of the platform. If the loan-to-value (

) ratio for borrowed funds drops below a specified threshold (known as the loan’s health factor on ZeroLend), the loan could be liquidated by the platform unless the borrower adds enough funds.

How liquidation works on ZeroLend. Source: docs.zerolend.xyz

ZeroLend also provides lending opportunities in LRT assets. More commonly known as 

 (LSDs), these are tokens issued by a variety of liquid staking platforms when you stake funds on them. Currently, four LRTs are supported on the ZeroLend decentralized lending platform — ezETH from Renzo, weETH from 

, rsETH from Kelp DAO and pufETH from Puffer.

By providing LRT lending opportunities, ZeroLend allows you to put these tokens to further use beyond their native platforms. You earn yields on your investment both on the original liquid staking protocol (through your investment in ETH or stablecoins) and on ZeroLend (through one of the supported LRT assets).

ZeroLend is also among the few platforms that provide RWA lending opportunities. RWAs are a rapidly growing sector and are projected to become a $10 trillion market by 2030. The platform hopes to capitalize on this growth by offering crypto lending collateralized using tokenized stocks, commodities, bonds, real estate and other types of off-chain financial assets.

Providing RWAs as collateral on ZeroLend can lessen one key limitation in crypto lending and borrowing: overcollateralization. Most crypto loans require ample overcollateralization, with typical collateral amounts ranging from 120% to 200% of the borrowed funds. Many borrowers don't have access to such capital in crypto assets. By tokenizing their RWAs and bringing them on-chain, they can access crypto loans more efficiently.

For instance, an institutional entity looking to borrow $500,000 in stablecoins might not have the $600,000 to $1 million in cryptocurrency typically required as collateral in such a scenario. However, they might have access to RWAs, such as real estate, land or bonds, against which they can take out the loan. Naturally, before these assets can be used to secure crypto loans, they need to be brought on-chain via tokenization.

Many DeFi trading activities require users to be familiar with operations and concepts such as private key management, gas fees, and multisig transactions. For crypto beginners, these notions can be confusing, raising barriers to entry to DeFi platforms. Even experienced users would ideally like to concentrate on actual trading instead of managing these nuances. This is where AA comes in.

ZeroLend's AA service provides you with a user-friendly wallet interface in which low-level details related to signatures, keys and gas fees are automated and abstracted away from you — thus freeing you from the necessity of handling these operations directly. AA helps you keep transactions private, cover gas fees (or lets you pay gas fees with ERC-20 tokens), access gasless transactions, automate the handling of delegated transactions, and log in to DeFi platforms with social handles in a user-friendly way.

AA on ZeroLend is achieved by tying your wallet not to an ordinary address on the blockchain, but to a programmable 

. As such, your abstracted wallet can programmatically handle common low-level operations based on the smart contract code, without you having to worry about nuances and technicalities.

Launched on May 6, 2024, ZERO is ZeroLend's native crypto token. It's an 

 asset on the Linea Layer 2 chain. The ZeroLend token has the following key functions:

 asset, with a total and maximum supply of 100 billion.

So far, ZeroLend has announced two main airdrops. 

 is the platform's default airdrop system, whereby users are allocated ZERO tokens based on Zero Gravity points — the protocol's loyalty point program. The more actively you participate in ZeroLend (as measured by your lending and borrowing activity), the more Zero Gravity points (and therefore, more ZERO airdrop allocations) to which you’ll be entitled.

The second airdrop is a campaign focused on distributing 

 tokens. A nontransferable crypto asset, earlyZERO is used to incentivize early platform users. Following ZERO's token generation event (TGE) that took place on May 6, 2024, recipients of earlyZERO can convert their tokens to ZERO at a 1:1 ratio.

The ZERO token is available on Bybit via Spot pair with USDT (

). Additionally, you can participate in Bybit's Spot listing campaign from May 6–20, 2024, dedicated to the ZERO token to grab a share of the 

As of May 14, 2024, ZERO has been on the market for eight days and 

. Long-term price estimates for ZERO are bullish, with DigitalCoinPrice expecting the token 

 in 2025 and $0.00353 in 2030. Meanwhile, Cryptoticker forecasts it 

ZeroLend's focus on RWAs and LRTs opens up new, flexible opportunities for DeFi lenders and borrowers. You can now increase total yields from your liquid staking investment by reinvesting LRT assets on ZeroLend, and the platform's RWA lending service is a unique opportunity to borrow tokens leveraging your real-world financial assets. The best part of all is that all these novel products are available through multiple chains, offering you plenty of options to conduct your lending and borrowing activities on your preferred platform.

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ZeroLend (ZERO): A Multichain Lending Platform on Layer 2 Networks

SPEED is the official fungible token of the Oracle Red Bull Racing Velocity Pass 2.0, uniquely integrated with digital Velocity Pass NFTs. Learn more here.

The Oracle Red Bull Racing Velocity Series represents a groundbreaking collaboration between the high-octane world of Formula 1 racing and the revolutionary technologies of 

, seeks to redefine fan engagement by integrating the thrill of racing with the dynamic potential of digital collectibles. Through the introduction of the SPEED token and the 

 protocol, this series not only captivates enthusiasts of motorsports and crypto but also sets a new standard for innovation in both fields. 

As we explore these technologies, we'll uncover how they blend the adrenaline of real-world racing with the expansive possibilities of the digital realm, offering unique opportunities for interaction and investment.

What Is the Oracle Red Bull Racing Velocity Series?

 is a pioneering initiative from Oracle Red Bull Racing and Bybit, blending the excitement of Formula 1 racing with innovative digital art and NFTs.

Launched as a strategic collaboration between Bybit and Oracle Red Bull Racing, the Velocity Series aims to captivate both racing aficionados and digital art enthusiasts by merging these two worlds through blockchain technology. The series features unique digital artworks that draw inspiration from the racing team's performance and dynamic data generated by the iconic RB20 F1 car.

DN-404 is an Ethereum token standard that represents a novel approach to blockchain technology, specifically designed to handle the complexities of 

. Created by Asterix Labs in February 2024, DN-404 aims to streamline the ownership and transacting of these unique digital assets by allowing them to be fractionally owned and traded, thus bridging the gap between non-fungible and fungible token operations.

The DN-404 protocol utilizes a sophisticated mint-and-burn mechanism to manage the relationship between fungible tokens and their corresponding NFTs. Purchasing a full token results in the minting of a linked NFT, while selling parts of the token leads to proportional burning of the NFT, thus maintaining a balance that supports fractional ownership and transferability. This process ensures that NFTs can be owned and traded more flexibly and with fewer complications as compared to traditional methods.

SPEED is the official fungible token of the Oracle Red Bull Racing Velocity Pass 2.0, uniquely integrated with digital Velocity Pass NFTs.

The SPEED token is limited to a total supply of 2,000, making it an exclusive element of the Velocity ecosystem. SPEED tokens are intricately linked to the ownership of Velocity Pass NFTs, which provide various benefits and privileges within the Oracle Red Bull Racing community. This means that if you’ve been airdropped a Season Two pass (

), or have bought one via the Dutch auction, you’ll have one SPEED token in your wallet. 

The integration of SPEED with Velocity Pass NFTs ensures a cohesive and enriched user experience.

Velocity Pass NFTs are exclusive digital assets that offer holders a unique blend of experiences and benefits within the Oracle Red Bull Racing ecosystem. More than just digital collectibles, these NFTs serve as keys to a series of privileges and interactions that connect fans more closely with the world of Formula 1 racing. Owners of these passes gain access to special events, digital art drops and other unique experiences designed to enhance the fan engagement and community aspect of the racing series. Each NFT is tied to specific benefits and offers that vary depending upon the level of the pass and the events occurring within the racing season.

This year, the Velocity Pass has significantly expanded and enhanced its offerings. The collection introduced an appealing new design and doubled its number of total passes to 2,000. This expansion aims to enrich the overall experience, regularly introduce new surprises and expand the community, thus drawing more fans into the exciting world of Velocity.

Holders of the Velocity Pass 2.0 now enjoy exclusive privileges, though it's important to note that fractional ownership doesn’t qualify for these benefits. These privileges include access to three exclusive NFT artwork drops from top-tier artists in 2024, eligibility for various surprise elements and participation in raffles with outstanding prizes.

In terms of distribution, out of the total supply of 2,000 Velocity Pass 2.0 NFTs, 900 were made available through a rebate Dutch auction that started at 5 ETH and decreased to 0.5 ETH. Moreover, 1,000 passes were airdropped to original Velocity Pass NFT holders, determined by a snapshot taken on Apr 12, 2024 at 1PM UTC. The remaining 100 passes were reserved for promotional activities.

Ownership and actions associated with the SPEED token are intimately tied to the Oracle Red Bull Racing Velocity Pass 2.0 NFTs. Each SPEED token is linked to a corresponding NFT, and various transactions can alter the ownership status and privileges of these digital assets.

These mechanisms ensure a dynamic interaction between the token and its corresponding NFT, mirroring the complex relationships within more traditional asset management, but with the added nuances of blockchain technology.

The following are among the multiple benefits of holding the SPEED token.

The SPEED token significantly enhances liquidity within the cryptocurrency market. Holders aren’t limited to waiting for a single buyer, but rather can engage in instantaneous transactions across multiple exchanges. This flexibility ensures that users can capitalize on market movements quickly and efficiently, reducing the potential for 

 and improving the overall trading experience.

SPEED tokens introduce a more flexible approach to participation within the Oracle Red Bull Racing Velocity ecosystem. Investors and fans have the liberty to decide the extent of their involvement, whether fully immersed or partially engaged. This flexibility allows for a more personalized interaction with the ecosystem, accommodating both casual enthusiasts and dedicated supporters.

By holding SPEED tokens, you become an early adopter of DN-404 technology in the blockchain space. This positions SPEED holders at the forefront of blockchain innovation, providing them with the opportunity to experience and benefit from the latest developments in blockchain technology and NFT integration.

Owning SPEED tokens also means becoming a part of an active and passionate community that’s composed of individuals who are enthusiastic about the latest advancements in blockchain technology, and are keen on exploring new possibilities within the NFT space. This communal aspect fosters a network of support and information exchange, enhancing the user experience and providing a foundation for collective growth and learning.

Purchasing and selling SPEED tokens is straightforward and can be done through 

 that support this token. To engage in transactions, users can input the specific contract address of the SPEED token (0x1c72523eecade307c9bffd03953ff91c5b80be09) into the DEX, such as 

For the below examples, we’ll assume a scenario in which the Buyer and Seller already have two DN-404 tokens each before trading.

The Oracle Red Bull Racing Velocity Series, with its SPEED token and DN-404 protocol, exemplifies the innovative fusion of sports, art and technology. This initiative not only enhances the fan experience by offering a digital interactive dimension to the racing world, but also pushes the boundaries of what’s possible in the NFT space, paving the way for new forms of digital engagement and investment.

If you have any questions or require any clarification, you can ask for assistance on Bybit’s Discord and we’ll try to help you achieve the best possible SPEED and Oracle Red Bull Racing Velocity Series experience.

:This Community Guide is not intended as advice. It’s important to 

 that cryptocurrencies remain unregulated in many jurisdictions, including the U.K. Profits from cryptocurrency transactions may be subject to capital gains taxes or other financial obligations. Additionally, the value of cryptocurrency investments can fluctuate in value. Given that DN-404 is a new and evolving blockchain technology, prospective Velocity Series 2.0 participants are advised to seek independent advice before engaging with this platform.

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Oracle Red Bull Racing Velocity Series (SPEED): Advancing with DN-404

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DOG•GO•TO•THE•MOON (DOG) is a dog-themed meme coin based on Bitcoin's newly launched Runes protocol. 

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Bitcoin's latest halving event, on Apr 19, 2024, was accompanied by another pivotal development for its blockchain — the launch of the 

. It allows the efficient issuance and management of fungible cryptocurrencies on Bitcoin and has been used to launch thousands of cryptos, mostly 

, within the first few days of its operation. The universe of Runes tokens is less than ten days old, but the competition within it is as fierce as it gets.

One token, however, has already confidently captured the top positions in the rankings within this fascinating new niche: the DOG•GO•TO•THE•MOON Runes meme coin, which has amassed an impressive $368 million market cap (as of Apr 29, 2024) in the seven days since its launch. This figure might look modest as compared to the market caps of the established meme coin giants: Dogecoin (

), at nearly $21 billion, and Shiba Inu (

), at around $14 billion. However, let's not forget that DOG•GO•TO•THE•MOON, or simply DOG, is in the very early stages of its market presence and may indeed shoot 

, at least if its impressive early run is sustained.

 (DOG) is a meme coin based on Bitcoin's newly launched 

Similar to other Runes tokens, DOG is a fungible crypto asset. It's one of the thousands of Runes-based assets launched on Bitcoin within the first day of the 

 on Apr 19, 2024. As of Apr 29, 2024, DOG is the dominant Runes cryptocurrency by market cap and total trading volume, far ahead of other tokens in this category. 

The rather unusual name for the token is due to the Runes protocol's naming standards, which currently require such lengthy descriptions to discourage name squatting at this early stage of the protocol's existence.

, one of the largest projects dedicated to Runes technology and 

DOG•GO•TO•THE•MOON's Ascent Following Its Airdrop

Until Wednesday, Apr 24, 2024, DOG had been a relatively unremarkable Runes token, similar to the thousands of others recently launched on Bitcoin. On that day, the Runestone Ordinals project announced a monumental 

 of 100 billion DOG tokens to the holders of its Ordinals inscriptions collection. 

Runestone, one of the highest-capped and most popular Ordinals inscription projects, boasts more than 75,000 distinct wallets that hold at least one of its inscription NFTs. Thanks to the collection's popularity and expansive reach, the DOG airdrop immediately led to the token's meteoric rise in both price and market cap rankings.

Upon the airdrop's conclusion, the DOG token had become the most widely held Runes token on Bitcoin. It now confidently dominates the category rankings on all major indicators. As of Apr 27, 2024, DOG boasts the highest market cap among all Runes cryptos, around $384 million. The closest contender and category runner-up, the SATOSHI•NAKAMOTO token, is far behind, with a market cap of $42.7 million.

DOG•GO•TO•THE•MOON and the Runestone Project

The DOG token was issued by the Runestone project, a leading 

 collection and the brainchild of the popular pseudonymous 

 enthusiast Leonidas. The collection was launched in early 2024 and comprises 112,400 Bitcoin NFTs, each depicting a black stone with an ancient rune symbol.

Soon after its launch, the Runestone collection quickly rose to the top of the Ordinals Inscription rankings. Until late April 2024, it also occupied the second spot by market cap, behind 

, among all the NFT collections in the industry. By the time of this writing, the collection has dropped off the top spot in the Ordinals Inscription rankings but remains enormously popular, currently in fifth place.

By airdropping 100 billion DOG tokens — the crypto's total supply — to Runestone holders, Leonidas cleverly used the collection's great popularity and its over 75,000–strong owner base to propel the token to stardom. It's probably no exaggeration to say that DOG owes its current dominant position to both the Runestone collection and the smartly-thought-out airdrop.

Due to the novelty of Runes technology and tokens, DOG is currently available only on select marketplaces. Currently, the Runes marketplace 

 is the primary platform for trading the DOG token. Magic Eden is a popular multichain marketplace that originally included Solana-based assets, but now offers a wide variety of items from different platforms, including Bitcoin Ordinals NFTs, Runes tokens, 

As of late April 2024, the DOG token continues to dominate the Runes rankings. The token's dominant position and $368 million market cap has sparked the discussion of many Runes enthusiasts and analysts regarding its potential to take on DOGE and SHIB, the meme coin behemoths, in the future.

These two "mega meme coins" currently boast market caps of $21 billion and $15 billion, respectively. Compared to these figures, DOG's cap of less than $400 million does look exceedingly modest.

That said, it had taken DOGE years, and SHIB many months, after their launches to even start getting noticed. DOG has accomplished this within less than a week. 

This feat suggests the possibility of DOG becoming a prominent player in the meme coin space in the future, making it an interesting crypto to watch.

DOG•GO•TO•THE•MOON (DOG): The Runes Meme Coin Woofing up the Charts

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Grab Up to 5,000 USDT in Rewards