Syscoin’s price doubled briefly following the news that Binance has introduced futures trading for the token, causing it to jump from $0.10 to $0.20 before settling at $0.1534. This $121 million market cap token has seen a 108% increase in price over the past seven days and a 36% increase over the past thirty days, but it has lost around 9% in the last 24 hours. Syscoin is the native token of the Syscoin protocol, a Layer 2 network that facilitates rollups on Bitcoin to improve scalability. Although the token previously reached an all-time high of $1.30, it has since lost 88% of its value but is currently consolidating around $0.15.
The rally in Syscoin’s price highlights the potential of Bitcoin layer 2 solutions in the eyes of investors. However, other innovation is taking place in the meme coin sector where new projects are giving funny tokens new utility. One such token, The Meme Games ($MGMES), has raised $376,600 in its presale phase. Investors who purchase $MGMES tokens can choose their favorite meme coin avatar and watch them race for a chance to claim a 25% bonus on their initial purchase. The token is currently selling at a fixed presale price of $0.0093, which will incrementally rise to the next fixed price of $0.00935 in four days.
Investors in the $MGMES presale can purchase the token at the lowest price it will be during the presale season. The project encourages participants to stake tokens during the presale to take advantage of the 538% APY being offered. Staking is only available on Ethereum, and participants are urged to stake early and stake big to maximize yield. Despite being in presale, $MGMES is already proving to be a more profitable token than Syscoin’s $SYS. Interested investors can follow The Meme Games on Twitter and Telegram and join the presale via the official website.
As with all cryptocurrency investments, it’s important to note that crypto is a high-risk asset class. This article provides information for informational purposes and does not constitute investment advice. Investors should be aware that they could potentially lose all of their capital in this market. Syscoin’s price rally in response to Binance’s introduction of futures trading showcases the excitement and potential in the cryptocurrency market, while new projects like The Meme Games offer innovative opportunities for investors to engage with meme coins in a unique way. The fluctuations in Syscoin’s price and the profitability of $MGMES in its presale phase underscore the dynamic nature of the crypto market and the opportunities available to investors seeking to diversify their portfolios within this high-risk asset class.
