According to BlockBeats, the new Ethereum-based token protocol Etheism has launched its token, E, which is currently priced at $4,426. Within seven hours of its release, the token experienced a remarkable increase of 80,299%, with a trading volume reaching $9.6 million.

Etheism, an ERC-20 token, features a unique characteristic where an 'Etheist Freak' SVG image is embedded directly into the token's transaction data. This image is generated using a mathematical formula inspired by DNA sequencing and evolves as the token supply decreases.

BlockBeats advises users to exercise caution due to the significant price volatility and unclear security status of the new token protocol. Users are encouraged to be aware of the associated risks.