Key Takeaways
- On Tuesday, NYSE Arca filed forms for the spot Solana ETF on behalf of Grayscale Investments.
- iDEGEN pre-market auction exceeds $2 million/
Grayscale file for spot Solana ETF
NYSE Arca, the New York Stock Exchange’s publicly traded products platform, filed the spot Solana ETF form on behalf of Grayscale Investments. The exchange filed a Form 19b-4 with Grayscale Solana Trust on Tuesday. This indicates that the company wants the SEC to approve the rule change.
Several companies, including 21Shares, VanEck, Bitwise Asset Management, and Canary Capital, have applied to list the Solana ETF with the SEC.
What is an alien?
The launch of the spot Solana ETF will benefit projects in the Solana ecosystem. One of the promising projects in blockchain is foreign. The project focuses on the burgeoning AI and memecoin ecosystem.
iDEGEN is a sentient degenerate AI memelord. According to the development team, iDEGEN learns, evolves, and adapts based on what the community contributes to X. Basically, this tool is powered by AI grown by degens.
Due to the fast-growing nature of projects in this space, it will be launched as a memecoin. The total market capitalization of Meme coins is over $45 billion and is expected to grow even further in the coming months and years.
iDEGEN as a tool evolves through interactions in X. According to the development team, users provide data to the tool through tweets, tags, and comments. iDEGEN absorbs those posts and adds them to its knowledge base. That’s how you learn.
iDEGEN can also post to X every 60 minutes and create and post memes. The team pointed out that everything iDEGEN publishes is driven by AI and what it learns from the community, without any human intervention.
iDEGEN’s pre-market auction price reaches $2 million
iDEGEN is currently holding a pre-sale of its own token, $IDGN, to raise funds to fund its products and services. According to it official websiteiDEGEN has raised more than $2 million in about a week since launching its pre-market auction.
According to the team, pre-market auctions utilize unconventional methods to attract more investors. iDEGEN’s pre-sale price is adjusted every 5 minutes based on market activity. If an investor purchases $IDGN tokens within 5 minutes, the price will remain stable for the next period. However, if consecutive purchases occur, the price of $IDGN will increase by 5%. Finally, if no one buys the token within 5 minutes, the price drops by 5%.
The pre-market auction will last until January 1, 2025, before the tokens are listed on cryptocurrency exchanges.
Should I invest in the iDEGEN project?
foreign This is an interesting project that combines AI and meme coins. This could become one of the leading meme coin projects on the Solana blockchain.
According to the team, $IDGN will provide real-time pre-market listing prices on its website, allowing investors to accurately track the progress of their tokens before they are released on trading platforms.
Investing in iDEGEN during the pre-sale period can be a great opportunity for investors to purchase the token at a discounted price before it is listed on major cryptocurrency exchanges.