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Last upgraded: February 22, 2024 17:54 EST|3 minutes checked out
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Thursday, February 22nd, 2024 — Top meme coin Sponge now has more than$10.18 million staked and bridged after revealing the launch of the V2 Polygon network variation of the coin at the start of this month.
Leading meme coin Sponge’s tactical shift to Polygon is timed completely for the Ethereum Dencun upgrade, among the outcomes of which will be lowered gas costs and faster deal times for Ethereum Layer 2 networks like Polygon.
Polygon is preferably fit for up-and-coming video game platforms such as Sponge since of its low charges and exceptional deal speed compared to Ethereum.
As leading meme coin Sponge gets ready to take crypto video gaming by storm, the ERC20 V1 token has actually now been ceased. The well-executed migration procedure has actually caused 8.55 billion $SPONGE V2 tokens being staked, totaling up to almost 20% of the flowing supply. Stakers are making token benefits at 189% per year on Ethereum and 909% per year on Polygon.
Market individuals do not have much time delegated take their last possibility to purchase $SPONGE V2 before central exchange listings start.
This is what occurs when you lose out on #SpongeV 2 ♂$SPONGE #PEPE #DOGE #SHIBA # 100x #Bullish #Crypto #MemeCoin pic.twitter.com/EJwBFTM5FJ
— $SPONGE (@spongeoneth) February 22, 2024
$SPONGE V2 rate is 4,917% greater than V1 token launch rate– more advantage to come
Such has actually been the success of the shift to Polygon, the rate of $SPONGE V2 has actually reached $0.001254, representing a 4,917% boost on the V1 launch rate of $0.000025.
$SPONGE V2 has actually currently gone beyond the $SPONGE V1 all-time high of $0.0012 and is presently on a watered down (flowing supply) market capitalization evaluation of $49.5 million. In pure terms, determined utilizing the overall token supply, the $SPONGE V2 assessment is $183.9 million. Liquidity in the SPONGE/WMATIC set is healthy at $558,670.
The shift to Sponge V2 happened on Monday, February 5, and as the chart listed below programs, the rate has actually been an onward and up trip for token holders since.
$SPONGEV2 is now in a combination channel that is threatening to form a bull flag before the next blast greater.
Sponge group makes all the best relocate to be successful as the go-to Layer 3 of the crypto video gaming world
Video gaming stays an acutely followed crypto sector, much of its guarantee has actually been stymied by a bad user experience and sluggish deal speeds, requiring specific activities off-chain, therefore negating the effectiveness of the blockchain architecture.
Polygon has the ability to scale to as much as 7,000 tps while Ethereum, in the meantime, suffers on 1 to 25 tps. With Polygon in theory able to accomplish 65,000 tps– and publish the Dencun upgrade that might be even greater– Sponge has actually made the best relocate to protect its video gaming future.