The team claims that Sponge has a strong community and a dedicated team that is working hard to ensure the success of the project. Focused on community and gaming, SPONGE’s goal is to increase its market cap to $1 billion, attract over 100,000 holders, and secure listings on “tier 1” exchanges. The unique stake-to-bridge model for obtaining Sponge V2 tokens aims to give early investors a first-mover advantage before the token is listed on exchanges at likely higher prices. It also provides a long-term stream of passive V2 token rewards.
Beyond its staking perks, Sponge is also jumping into the P2E arena to offer a unique Web 3 game to its users. Furthermore, the project has been covered by major voices in the cryptocurrency space, which is further boosting the project’s credibility among the crypto community. Unlike other memecoins that came out as spur-of-the-moment assets and disappeared fast, Sponge persisted. While Sponge V1 only had the community’s interest in memecoin and the inspiration from “Spongebob Squarepants” to count on, Sponge V2 is the token coming with a brand new format.
How to Add Sponge V2 (SPONGE) to MetaMask Wallet
If you don’t, we recommend going to Binance, a leading cryptocurrency exchange that lets users buy cryptocurrencies easily and at a low fee. The Sponge V2 staking dashboard shows that more than 3.8 billion tokens have been staked, and the current reward rate stands at more than 400%. Investors can increase their holdings over a 4-year period, starting at a minimum APY of 40%. This is one of the reasons that Sponge V2 has become one of the most interesting staking tokens to invest in. To get access to Sponge V2, you must stake your Sponge V1 tokens via the staking pool.
Sponge Price Live Data
There might be some drop-off if unstakers move to quickly cash out their gains. However, given that Sponge V2 also has a long-term staking perk, early investors may compound their gains even further. Gripped by the memecoin fever, people came in droves, investing in whatever memecoins they found appealing. Sponge, with its quirky look and whacky inspiration, was one of the key tokens that got people’s attention. Sponge arrived at the heels of PEPE, a memecoin that achieved what no token was able to amidst the crypto winter, launching and quickly reaching the $1 billion market cap.
Once the token launches, you will gain the exact number of Sponge V2 tokens. Basically, it is a new name for stake-to-earn, except that a different type of token will be rewarded to you in exchange for staking tokens. Before investing in cryptocurrency, always perform thorough due diligence on the project. Sponge (SPONGE) is a zero-tax gaming memecoin inspired by, yet not natural language processing specialization deeplearning ai affiliated with, the beloved cartoon character SpongeBob.
This allows easy and quick access to storing, sending, receiving, and interacting with dApps that support the token. MetaMask gives users full control over their private keys unlike exchanges. While Sponge V2 doesn’t have any intrinsic utility, the project is building a play-to-earn game where users can win more tokens. There will also be a free version to help expand the community of token holders, which makes the project more attractive to new investors. The loyal Sponge community has already spurred multiple exchange listings for V1.
- After committing to Sponge V2 and picking an exchange, prepare your funds while also considering possible fees.
- The current bullish wave that the entire market has been going through make it a good time to invest in memecoins.
- This collaboration has resulted in an airdrop that has generated a lot of hype among crypto and Web3 enthusiasts.
- Passive income seekers can keep their tokens staked and can potentially increase their holdings over the course of the next four years.
- Sign up now to receive weekly market briefings delivered straight to your inbox.
- Meme coin prices are highly unpredictable, so never invest more than you can afford to lose.
This result was surprising for most in the crypto space, considering the project didn’t advertise any utilities or had other fundamentals. However, one look at the project’s Twitter is enough to learn that the project continued to inspire confidence among the people. CoinScan has reviewed over 100 crypto exchanges in depth to assist your decision when choosing where to buy Sponge V2 from. CoinScan has reviewed over 100 crypto exchanges in depth to assist your decision when choosing where to buy Sponge from. Download the CMC mobile app to get the live price of SPONGE, BTC and other cryptocurrencies.
How Is Sponge (SPONGE) Secured?
Sponge V2 (SPONGE) is the second iteration of the popular Sponge meme coin that recorded impressive gains in 2023. The only way to get Sponge V2 is by staking the first version of Sponge V1 tokens. Sponge (SPONGE) is a zero-tax bitcoins market cap crosses $1 trillion as etfs start trading memecoin derived from, but not affiliated to, the beloved cartoon character SpongeBob SquarePants.
Out of a total supply of 40.4 billion tokens, Sponge has allocated 61% towards DEX liquidity, 29% towards unity, and 10% towards CEX. As a popular multi-chain crypto wallet, MetaMask offers the perfect solution to securely store your Sponge V2 tokens and other digital coins and earn staking rewards. MetaMask is one of the most popular crypto wallets used by over 30 million people globally. If you own the Sponge V2 (SPONGE) meme coin, you can store it securely on your MetaMask wallet. Now, here are the step-by-step instructions on how to add Sponge V2 (SPONGE) to MetaMask wallet.
Update – $SPONGE has also now been listed on multiple centralized exchanges, including how i made the switch from marketing to ux Gate.io, CoinW, Bitget, MEXC, Toobit, Poloneix, BingX, and Orange X. After the bridge is complete, you will get an equivalent number of $SPONGEV2 tokens. The platform’s new, utility-focused approach has likely attracted multiple copycats. Here is the complete guide that explains how one can buy $SPONGE tokens. While Sponge maintains a follower count of just close to 30k on Twitter, it is significant considering it is a project that came out of nowhere.
Stake-to-Bridge Launch Gives Early Investors a First-Mover Advantage
There is an anticipation that the returns could be bigger this time. The project’s May 2023 launch resulted in 100x returns, and the same could happen again if the current level of craze for this token is maintained in the days to come. However, Sponge V2 is not only planning to ride the wave of the upcoming bullish movement. It aims to “absorb all the damp”, which is the project’s way of saying that it intends to absorb all the liquidity held by the leading memecoins in the market. The latest version of Sponge – Sponge V2 – is the relaunch of Sponge V1, a token that broke into the crypto space in May 2023, making more than 3000% gains for those who moved early. It resulted in the token moving past the $100 million market capitalization.
After you have connected the wallet, enter the amount of ETH or USDT that you want to swap Sponge V1 tokens for. Entering the number will automatically tell you the number of Sponge V2 tokens you will receive. The price of Sponge V1 tokens at press time is accumulating around the $0.0005 mark, which means spending 0.1 ETH will allow you to earn about 378.4k Sponge V2 tokens.
Sponge first went live on Uniswap and is now available on multiple exchanges. However, now that the token is bridging to Sponge V2, it is important for investors to learn to take advantage of the novel stake-to-bridge model. After its initial launch on the Ethereum blockchain, achieving 100x milestones and nearly reaching a $100 million market cap, $SPONGE is making a comeback with a vengeance. The new token version has transitioned the existing SPONGE community to the Polygon network, enabling lower transaction fees and positioning $SPONGE to achieve significant gaming utility. The coin is focused entirely on the community, and its goal is to increase its market cap to $1 billion, have 100,000 holders and be listed on “tier 1” exchanges, amongst others.