Recent data shows that the Cosmos market cap declined moderately in addition to the significant drop in the token’s price. Moreover, the price of Ethena also dropped significantly both over the past week and over the past month. However, amid the decline experienced by these tokens, KangaMoon, a new player in the meme coin market, faces renewed market optimism as BitMart announces that it will be listed soon. Let us find out more.
Cosmos Price Drops Amid Approval Of $1 Million Grant By Cosmos Hub
The recent approval of Governance Proposal No.917, which is a $1 million grant request from Dora Factory and DoraHacks to the Cosmos Hub community treasury, is a significant development in Cosmos. For the next two years, the Cosmos Hub ecosystem will get ten rounds of quadratic funding thanks to this grant.
This was one of the biggest applications for treasury money, and it generated a lot of discussion and strong support among the Cosmos community. Meanwhile, the Cosmos price is currently struggling to gain significant bullish momentum. Currently priced at $8.29 per token, Cosmos has declined by 7.17% within the past 7 days and the Cosmos market cap has also dropped by 0.74% to reach $3.24 billion.
Ethena Market Cap Drops Amid Price Decline
Lookonchain, an on-chain analytics company, recently revealed on X (formerly Twitter) that a cryptocurrency whale, who had once amassed a whopping 9.33 million Ethena tokens valued at $10.47 million, had sold most of his Ethena holdings for a $2.71 million loss. Meanwhile, the Ethena price has dropped by about 30% over the past 30 days and is currently trading around the $0.66 mark.
Expert technical analysis indicates that Ethena is trading close to a significant support level and is exhibiting negative trends on a daily time frame. Moreover, the Ethena price has also declined by over 24% within the last 7 days while the Ethena market cap has dropped by about 8.5% to reach about $1.002 billion.
KangaMoon (KANG) Becomes A Part Of The Meme Coin Titans
A sensation in the meme coin market, KangaMoon (KANG) is making waves with its practical and creative strategy. Unlike usual hype memecoins, KANGis the in-game currency for the upcoming KangaMoon Play-to-Earn (P2E) game. Participating in weekly, monthly, and quarterly challenges that award extra tokens and in-game items is one unique perk enjoyed by KANG holders.
When these items are traded on the KangaMoon market, the meme coin’s actual value increases. As of right now, KangaMoon is 400% higher than its initial pricing and has entered the bonus round of its presale with a price of $0.025. Experts anticipate a significant surge in value when KangaMoon is made available on a Tier-1 Centralized Exchange (CEX).
Meanwhile, BitMart exchange has already announced that KANG will soon be listed on its platform. By purchasing KangaMoon and spreading the word about it on social media, users may start earning tokens and winning prizes right now. Holders of KANG will have access to the exclusive social-fi model even before its official release.
Can KangaMoon Outshine Cosmos and Ethena?
KangaMoon needs less money to enhance its price since its market capitalization is substantially lower. With this feature, KANG might surpass Cosmos and Ethena and emerge as one of the meme coin titans to keep an eye on for significant gains.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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