May 9, 2023 at 06:59The KING token grew by more than 50% in the last 24 hours. Coincidence or not, the asset appeared in anticipation of Charles III’s coronation. The connection between the coin and the new monarch is not visible as such, but the simultaneous events may have given the cryptocurrency some acceleration. However, it seems that the “royal blessing” has descended on some other projects, which may have also caused them to start rising. Read more about this below.
“The most memeable”: What is KING?
KING is a new meme coin created on the Solana blockchain. Thus, some call it Solana’s answer to Ethereum’s PEPE. The token was launched on May 5, 2023, just days before the coronation of Charles III. Nowhere is there any confirmation of a connection to this event, but it is not impossible.
Within 24 hours of the launch, the token was the third-most popular of all blockchains. In addition, the number of KING holders quickly exceeded 8,000, and on the day of release, the trading volume was equal to $18M.
According to the developers of the project, the main goal of the asset is to create a large, dynamic, and sustainable community around itself. This is planned to be achieved through:
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- A reward redistribution system.
- Constantly expanding its offerings.
- Rejection of smart contracts for more transparency.
The creators of the project are considered GonzoSOL, who previously launched Ducks Vegas. The developer sees its task as attracting new users through the system of redistribution of rewards and, in addition, tries to steadily expand its offerings among the community.
What is KingdomVerse?
KingdomVerse’s KING could be another coin that began its rise with the coronation of Charles III. There is no direct connection, if only because the token was launched back in March 2023, but before that event, the asset had only been falling. Another reason for the sudden rebound could be due to a series of upcoming listings, but as a rule, the addition to the exchange does not always affect the position of the cryptocurrency in the market, though it often does. So, it is likely that both events had an effect.
With the KingdomVerse native token, users can:
- Make transactions, whether buying or selling coins, in a casual PVP tower defense game.
- Improve heroes and characters from the metaverse. To do this, buy spell books and other rare items.
- Earn through stacking.
The essence of the game is simple: players gather into teams of five heroes and fight the enemies. The goal is to kill all foes and win. Characters for the game are sold as NFT, and each has special abilities. Here’s what some of them look like:
According to the developers of the project, their goal is to create a dynamic ecosystem of mobile games for the masses, relying on fun, usability, and digital mastery. To make the plans a reality, the following experts in Web3 and beyond are working on the project.
- Terence Chow — CEO.
- Josh Kovac — CSO
chief security officer. - Cloud Hui — CPO chief product officer.
- Garfield Ip — CTO chief technology officer.
- Benjamin Lee — executive director.
- Guillermo Sierra — creative director.
- Fung Man — CCO chief compliance officer.
KING and KingdomVerse current prices
As you noticed, both tokens are marked KING, so it is very easy to mix them up. However, one thing is still constant: both tokens are growing, and most likely for the same reasons – stock exchange listings and the coronation of Charles III. Let’s take a closer look at who was more influenced by this event.
KING
At the moment of writing, the token had grown by 24,51% to $0.0003759. At the same time, the asset managed to form its first historical maximum, jumping to $0.0004406. At the moment, the difference is more than 50%. Moreover, it is not excluded that KING will show itself and form another peak.
new ATH ? $KING 👑@kingcoinsol pic.twitter.com/Zd7WlHGv9X
— stanghe (@LLstanghe) May 9, 2023
On the whole, if you compare the historical minimum and maximum of the asset, the difference was 126,99%. This suggests that if you were able to buy at the very bottom and sell the asset at the peak, you could earn 2,7 times the invested amount.
It’s also interesting that, despite the fact that KING is a meme token, the creators have limited the maximum supply to 10B coins. However, it is unclear why exactly.
The second reason, other than the coronation of Charles III, is the row of listings on CEX. Thus, one of the last platforms on which KING was listed was Poloniex.
Listing: @kingcoinsol $KING wallets will open on May 9 at 08:00 UTC and full trading will be enabled on May 9 at 10:00.
Deposit: https://t.co/RPpsiYrkA7
Trade for $KING/ $USDT: https://t.co/MCafbo5RQ0Details: https://t.co/Ry1ioIF8In#PoloniexListing pic.twitter.com/Jz5yjPZkpN
— Poloniex Exchange (@Poloniex) May 8, 2023
KingdomVerse
Although the token has no connection with the coronation, it showed more growth. So, at the time of writing, the coin from KingdomVerse had risen 48,32% to $0.01089.
It is also noteworthy that the asset has now resumed growth for the first time in three months. The coin was launched in February 2023, and it immediately collapsed from $0.05033 to its current level. Hence, everyone who invested in the token at the start is now at a loss.
However, if you had invested in KingdomVerse native tokens during an all-time low ($0.00479), you would now have x2,2 of the invested amount.
As for the reasons for the growth, like in the case of the first KING, this token is now being actively added to exchanges. Thus, the last of them was Uniswap. Also, according to CoinMarketCap, the coin can be bought on KuCoin and Gate.io.
The greater growth of this token compared to the previous one can also be explained by the fact that on May 9, the creators officially announced the launch of the open Beta. With its release, NFT owners are expected to be able to integrate their best collectibles into the game. The event is scheduled for May 11.
Open Beta Launch
NFT Holders of our partner projects will be able to integrate their top collectibles into our game
Each in-game character will be inspired by the project’s partner NFTs
Our 1st Collaboration: @MonkeyKingdom Monkey Legend (Gen 3) NFTs
May 11 pic.twitter.com/azAA7GTgpJ
— Kingdomverse (@Kingdomverse_) May 9, 2023
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