Ethereum

Pandora

DeFrogs

The ERC-404 token sector is recording a significant decline after a week of rapid growth. 
According to Coingecko, the ERC-404 sector has significantly declined in the last 24 hours, with total market capitalization falling 33% to $163 million. Key tokens such as PANDORA have fallen over 24%, while DEFROG has declined 26%, and RUG in the red 31%. 
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 <img loading="lazy" decoding="async" width="1024" height="232" src="https://crypto.news/app/uploads/2024/02/Screenshot-2024-02-12-at-09.09.17-1024x232.png" alt="ERC-404 sector collapses by 33% after rapid surge - 26" class="wp-image-14247425">
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PANDORA, one of the most popular ERC-404 tokens, sank after a week of rapid growth. Over the past seven days, the coin has risen in price by almost 800%, to $14,743 at the time of writing. 
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 <img loading="lazy" decoding="async" width="1024" height="638" src="https://crypto.news/app/uploads/2024/02/Screenshot-2024-02-12-at-09.32.17-1024x638.png" alt="ERC-404 sector collapses by 33% after rapid surge - 27" class="wp-image-14247426">
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 Source: Coingecko
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Pandora is the first token issued based on the experimental ERC-404 standard. It is a mixed implementation of ERC-20/ERC-721, where an <a href="https://crypto.news/tag/NFT/" target="_blank" rel="noreferrer noopener">NFT</a> automatically appears in the wallet after token purchase. Within a few days, OKX, Blur, and OpenSea marketplaces <a href="https://crypto.news/new-erc-404-surges-by-30-crossing-32k-mark/" target="_blank" rel="noreferrer noopener">announced</a> their support, Bitget Wallet, and even the Teller and Wasabi Protocol lending protocols. The centralized exchange LBank also announced the listing of PANDORA. 
DEFROGS also saw significant growth, with analysts <a href="https://crypto.news/memecoin-craze-sees-one-trader-reap-over-100k-in-profits-on-newly-listed-defrog/" target="_blank" rel="noreferrer noopener">notic</a>ing that one trader earned more than $166,000 in two days by spending 0.258 ETH ($613) to purchase the DeFrogs token. 
 You might also like: <a href="https://crypto.news/new-ethereum-standard-erc-404-gains-steam-first-token-skyrockets-12000-in-days/"> New Ethereum standard ERC-404 gains steam, first token skyrockets 12,000% in days </a>

ERC-404 sector collapses by 33% after rapid surge

crypto.news

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