{"id":567382,"date":"2023-12-29T20:30:49","date_gmt":"2023-12-29T20:30:49","guid":{"rendered":"https:\/\/ktsl888.com\/?p=567382"},"modified":"2024-06-11T14:43:50","modified_gmt":"2024-06-11T14:43:50","slug":"avalanche-to-support-meme-coins-avax-to-the-moon","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/avalanche-to-support-meme-coins-avax-to-the-moon\/","title":{"rendered":"Avalanche To Support Meme Coins; AVAX To The Moon?"},"content":{"rendered":"

The Avalanche Foundation is expanding its support of meme coins. This move could further boost the popularity of Avalanche, a low-fee and high-throughput blockchain, and even support its native coin, AVAX.<\/span><\/p>\n

Avalanche Foundation To Support Meme Coins<\/span><\/h2>\n

Taking to X on December 29, the foundation\u00a0<\/span>said<\/span><\/a>\u00a0it would continue its Culture Catalyst initiative to encourage meme coin activity, among others, including Real-World Assets (RWAs), non-fungible tokens (NFTs<\/a>), and more. This campaign, they continue, aims to foster innovation and propel the adoption of blockchains by supporting the creation of “new forms of creativity, culture, and lifestyle.”<\/span><\/p>\n

Related Reading: Bitcoin Erases Recovery As Miners Cash Out 3,000 BTC<\/a><\/div>\n

The Avalanche Foundation believes that meme coins have carved out a significant niche in crypto, representing the collective spirit and shared interests of diverse crypto communities. By recognizing and encouraging this culture, the foundation hopes to develop and expand the Avalanche ecosystem, attracting new users.<\/span><\/p>\n

As they resume Culture Catalyst, the foundation will start by purchasing select Avalanche-based meme coins to create a collection. The selection process will be based on several critical criteria, including the number of holders, liquidity thresholds, project maturity, principles of a fair launch, and overall social sentiment.<\/span><\/p>\n

This move is a significant step for the Avalanche Foundation, as it indicates a growing recognition of the potential of meme coins to drive innovation and growth. It is because meme coins have become increasingly popular in recent years, often attracting large communities and generating significant trading volume. According to CoinMarketCap\u00a0<\/span>data<\/span><\/a>\u00a0on December 29, meme coins have a cumulative market cap of over $23 billion.<\/span><\/p>\n

\"Meme
Meme coins cumulative market cap | Source: CoinMarketCap<\/figcaption><\/figure>\n

Will AVAX And COQ Extend Gains In 2024?<\/span><\/h2>\n

The foundation’s support for meme coins could further boost the popularity of Avalanche, as it will bring more attention to AVAX, a coin used for paying network fees. Thus far, AVAX remains in an uptrend, adding nearly 400% from October 2023 lows. Though there has been a cool-off, buyers have the upper hand. With rising demand triggered by more meme coins deploying on Avalanche, AVAX prices will likely float even higher.<\/span><\/p>\n

\"Avalanche<\/a>
Avalanche price trending upward on the daily chart | Source: AVAXUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n

One of the Avalanche-based meme coins, COQ, is among the top 10 most liquid. According to DEX Tools\u00a0<\/span>data<\/span><\/a>, there are over 34,000 COQ holders when writing. As of December 29, Dogecoin (DOGE) is the largest and most valuable meme coin, with over $13.2 billion in market cap. However, the launch and subsequent stellar performance of COQ propelled it to command a market cap of $114 million.\u00a0<\/span><\/p>\n

Related Reading: Storj (STORJ) Wyckoff Analysis (11 to 20 Dec 2023)<\/a><\/div>\n
Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

The Avalanche Foundation is expanding its support of meme coins. This move could further boost the popularity of Avalanche, a low-fee and high-throughput blockchain, and even support its native coin, AVAX. Avalanche Foundation To Support Meme Coins Taking to X on December 29, the foundation\u00a0said\u00a0it would continue its Culture Catalyst initiative to encourage meme coin activity, among others, including Real-World Assets (RWAs), non-fungible tokens (NFTs), and more. This campaign, they continue, aims to foster innovation and propel the adoption of blockchains by supporting the creation of “new forms of creativity, culture, and lifestyle.” Related Reading: Bitcoin Erases Recovery As Miners Cash Out 3,000 BTC The Avalanche Foundation believes that meme coins have carved out a significant niche in crypto, representing the collective spirit and shared interests of diverse crypto communities. By recognizing and encouraging this culture, the foundation hopes to develop and expand the Avalanche ecosystem, attracting new users. As they resume Culture Catalyst, the foundation will start by purchasing select Avalanche-based meme coins to create a collection. The selection process will be based on several critical criteria, including the number of holders, liquidity thresholds, project maturity, principles of a fair launch, and overall social sentiment. This move is a significant step for the Avalanche Foundation, as it indicates a growing recognition of the potential of meme coins to drive innovation and growth. It is because meme coins have become increasingly popular in recent years, often attracting large communities and generating significant trading volume. According to CoinMarketCap\u00a0data\u00a0on December 29, meme coins have a cumulative market cap of over $23 billion. Will AVAX And COQ Extend Gains In 2024? The foundation’s support for meme coins could further boost the popularity of Avalanche, as it will bring more attention to AVAX, a coin used for paying network fees. Thus far, AVAX remains in an uptrend, adding nearly 400% from October 2023 lows. Though there has been a cool-off, buyers have the upper hand. With rising demand triggered by more meme coins deploying on Avalanche, AVAX prices will likely float even higher. One of the Avalanche-based meme coins, COQ, is among the top 10 most liquid. According to DEX Tools\u00a0data, there are over 34,000 COQ holders when writing. As of December 29, Dogecoin (DOGE) is the largest and most valuable meme coin, with over $13.2 billion in market cap. However, the launch and subsequent stellar performance of COQ propelled it to command a market cap of $114 million.\u00a0 Related Reading: Storj (STORJ) Wyckoff Analysis (11 to 20 Dec 2023) Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":567384,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[9885,87282,83347,83609,91010,7,1804,83767],"class_list":["post-567382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-avalanche","tag-avalanche-price","tag-avax","tag-avaxusdt","tag-coq","tag-dogecoin","tag-dogecoin-price","tag-meme-coins"],"acf":[],"yoast_head":"\nAvalanche To Support Meme Coins; AVAX To The Moon?<\/title>\n<meta name=\"description\" content=\"The Avalanche Foundation is expanding its support of meme coins. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/ktsl888.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Avalanche To Support Meme Coins; AVAX To The Moon?","url":"http:\/\/ktsl888.com\/news\/avalanche-to-support-meme-coins-avax-to-the-moon\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/avalanche-to-support-meme-coins-avax-to-the-moon\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Crypto-news-Template16.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Crypto-news-Template16.jpg?fit=1380%2C780"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["avalanche","avalanche price","avax","avaxusdt","coq","dogecoin","dogecoin price","meme coins"],"dateCreated":"2023-12-29T20:30:49Z","datePublished":"2023-12-29T20:30:49Z","dateModified":"2024-06-11T14:43:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Avalanche To Support Meme Coins; AVAX To The Moon?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/avalanche-to-support-meme-coins-avax-to-the-moon\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/avalanche-to-support-meme-coins-avax-to-the-moon\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Crypto-news-Template16.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Crypto-news-Template16.jpg?fit=1380%2C780\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"avalanche\",\"avalanche price\",\"avax\",\"avaxusdt\",\"coq\",\"dogecoin\",\"dogecoin price\",\"meme coins\"],\"dateCreated\":\"2023-12-29T20:30:49Z\",\"datePublished\":\"2023-12-29T20:30:49Z\",\"dateModified\":\"2024-06-11T14:43:50Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Crypto-news-Template16.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/567382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=567382"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/567382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/567384"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=567382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=567382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=567382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}