Friends, according to official news, Binance will launch DEGEN USDT perpetual contract on the evening of November 15, with a leverage of up to 75 times. Today, I will explain DEGEN to you!
·Degen Project Introduction·
Degen is a meme token distributed to the community on the decentralized social network Farcaster. Degen was originally a reward token for participants in the Farcaster Degen channel. What started as a meme coin now has a large number of developers, crypto content creators, and enthusiasts who bought the coin. During the initial launch, 15% of the total supply was airdropped to active members of Farcaster's Degen channel, with plans to eventually airdrop 70% of the total token supply.
Degen’s financing situation
February 20, 2024: DEGEN completed a $1.5 million angel round of financing. Details are as follows:
In February this year, Degen announced the completion of an angel round of financing of 490.5 ETH (about 14.7 million US dollars), led by 1confirmation, with participation from Farcaster OG and other institutions. These funds will be used to develop the Degen ecosystem and community. It can be seen that part of the shares have been given to some community projects, such as Drakula, which also laid the foundation for the practicality of Degen.
·Degen's token situation·
According to official news, Degen rose by nearly 20% in a short period of time, and the price at that time was 0.029 US dollars.
As of press time, the current price of Degen is $0.02815, up 40.7%. The trading volume in the past 24 hours is $390,700,305, up 115.60% from a day ago, indicating that recent market activity has increased. The highest price in history is $0.06454, while the lowest price is $0.00002255. The current total market value of Degen is $520 million, up 11.6% in one hour. It seems that the price of Degen has risen, which is affected by the launch of the DEGEN contract on Binance.
·Specific time·
Launch time: November 15, 19:30 (UTC+8)
Disclaimer: All information in this article is for communication only and does not constitute any investment advice. Please abide by the relevant laws and regulations of your region. Refuse to invest at your own risk.
