Altcoins
Australian Rap Star Iggy Azalea Launches Meme Coin, These 2 Altcoins Rise
Australian rap star Iggy Azalea recently launched a meme coin, Mother Iggy (MOTHER), which has risen significantly. Interestingly, the ETFSwap (ETFS) The token also saw its value skyrocket following this development. These two altcoins benefited significantly when celebrities like Iggy Azalea entered the crypto space.
Altcoin Rally: ETFSwap (ETFS) Soars After Launch of Iggy Azalea’s MOTHER Meme Coin
The value of ETFSwap has skyrocketed over 500% in the last 24 hours following the launch of Iggy Azalea’s Mother Iggy (MOTHER) meme coin. ETFS, the native token of decentralized investment platform ETFSwap, is believed to have skyrocketed as the platform could become the home of these celebrities as others continue to venture into the world of cryptocurrencies.
These celebrities are known for diversifying their portfolio into altcoins, and this is where a platform like ETFSwap (ETFS) comes in as they can invest in cryptocurrencies and exchange-traded funds (ETFs) on the platform. The investment platform tokenizes them ETFs and makes them available for on-chain trading.
ETFSwap (ETFS) is set to become their preferred choice (over centralized trading platforms) for several reasons. First and foremost, the platform offers a simpler and more secure environment for trading these traditional assets. Trading on the investment platform is easier as users simply need a crypto wallet and ETFSwap (ETFS) token to start investing in traditional assets.
Additionally, it’s worth mentioning that Know-Your-Customer (KYC) requirements on ETFSwap (ETFS) are not mandatory, meaning users (including these celebrities) can quickly start investing without having to worry about unnecessary paperwork . and verification processes they would normally encounter if they were to use centralized entities.
ETFSwap (ETFS) also further protects user privacy by using zero-knowledge (zk) proof technology on the platform. This means that users can easily make transactions without fear of their identity being revealed.
This is a vital feature, especially for investors who would like to keep their investment decisions private and away from the prying eyes of government or regulators. Users can rest assured that they are trading anonymously, as ETFSwap (ETFS) will also have no idea who is trading.
Meanwhile, using the ETFSwap (ETFS) it is considered a safer way to invest as transactions on the platform are highly encrypted, making them less susceptible to hackers, unlike traditional financial infrastructure (TradFi). The unprecedented security of ETFSwap (ETFS) is even more critical given the millions of dollars investors will seek to invest in these tokenized ETFs.
Iggy Azalea’s MOTHER meme coin surges as investors make significant gains
Meme coin Mother Iggy (MOTHER) quickly rose to a market capitalization of $29.2 million following the success of rap star Iggy Azalea revelation that she was the developer behind the coin, which was distributed on the Solana (SOL) network. Meme coin traders are believed to have made significant gains from the surge in market capitalization of the Mother Iggy (MOTHER) coin, making it one of the highest-gaining altcoins of the day.
Lookonchain on-chain analytics platform revealed that one particular trader turned $861 into $657,000 (a 762x gain) in just 5 hours by trading the Mother Iggy (MOTHER) meme coin. On-chain data tracker Bubblemaps also revealed another trader who made a $2 million profit by purchasing the Mother Iggy (MOTHER) coin shortly before Iggy Azalea revealed that she was the developer behind the meme coin.
Meanwhile, Iggy Azalea continued to actively promote the Mother Iggy (MOTHER) meme coin on her platform X (formerly Twitter). However, the cryptocurrency’s value fell to a market capitalization of around $16.6 million from its all-time high (ATH) of $29.2 million. This is a stark reminder of the risk that comes with these altcoins having no intrinsic value.
Conclusion on Celebrity Backed Altcoins
With celebrities like Iggy Azalea set to flock to altcoins like ETFSwap (ETFS), one can only imagine the billions of dollars that will flow into the investment platform every day. These inflows will pass through the platform’s native token, ETFSwap (ETFS), as that is what they will convert into the ETFs of their choice.
For more information on ETFS presale:
Disclaimer: This is a paid version. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of the information available in such content. Do your research and invest at your own risk.