.Trading volumes of the experimental hybrid currency Pandora (Pandora) operating according to the ERC404 standard have continued to rise since its launch on February 2, and its market value (calculating its maximum supply) has increased to more than $320 million in just one week, making its project one of the most exciting projects. Up for discussion in crypto circles. Data recorded as of February 13 indicates that the total trading volume of PANDORA has increased remarkably as it reached about 73,024 Ethereum (Ethereum-ETH) coins - equivalent to approximately $190 million - according to an analysis that Nansen shared with Cryptonews.com. . This number includes all transactions via decentralized exchanges (DEXs) for ERC20 tokens and non-fungible token (NFTs) stores for ERC721 items.
. Pandora's current price is 32% below all-time highs.
. The price of the PANDORA coin - according to its latest reading - settled near $21,900, representing a decline of 32% compared to its highest levels recorded ever; To succeed in attracting 1,420 unique wallet addresses belonging to holders whose wallets contain at least one full currency. It is worth noting that 50% of the circulating supply of full currencies or NFTs, amounting to 5,681 items, are kept in the portfolios of investors who are careful not to waste them, which reflects investorsâ strong confidence in the projectâs capabilities and future prospects.
. This retention rate is higher than the corresponding rates for unique, prestigious NFTs such as Pudgy Penguins and Bored Ape Yacht Club, according to the Nansen report. Nansen's Director of Product Marketing, Journey Li, recently reported in a post on the X platform that a wallet funded by Yesterday, Amber Group purchased 109 full Pandora coins for a total value equivalent to approximately $1.96 million.
. The same report also pointed out the difficulty of analyzing the trading volumes and transactions of currencies designed according to the hybrid ERC404 standard. Focusing on NFT transactions only during the past 30 days, it is clear that the major NFT stores - such as OpenSea and Blur - did not face any challenges after the launch of the new ERC404 standard, which indicates that most transactions according to it were done through decentralized trading platforms.
. Increased rate of issuance of currencies according to the ERC404 standard.
. The rate of issuance of new currencies according to the ERC404 standard has increased significantly, and issuances take place when purchasing an entire currency or several currencies together through a decentralized trading platform, with currencies worth more than $344 million being issued during the past week alone.
. It is worth noting that full coins are not burned or reissued if they are later sold as an NFT item via NFTs trading stores rather than decentralized trading platforms. The successful launch of the Pandora project will pave the way for other projects designed to work on the ERC-404 standard, including advanced versions of it such as ERC404+ and DN404. This new trend reflects the popularity of new standards in the sector, as the concept of hybrid standard currencies having internal liquidity has been welcomed in the industry. sector circles.
. After the launch of the Pandora project on February 2, several projects were launched that enjoyed promising trading activities, as the trading volumes of three projects exceeded 10,000 ETH coins, and the trading volumes of 12 other projects reached more than 1,000 ETH coins since their launch.
. Finally, the aforementioned report stated that transaction fees via the Ethereum blockchain had reached their highest levels since March of 2023 thanks to the growing interest in the new ERC-404 standard, as Ethereum transaction fees on February 9 recorded new record levels of 70 gewi (unit of measurement). Gas/transaction fees), which is equivalent to $60 to complete a standard transaction.
$PANDORA
