Degen

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/degen-chain-gains-momentum-with-100-million-transaction-volume" rel="noopener noreferrer nofollow">Degen Chain Gains Momentum with $100 Million Transaction Volume</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/investor-confidence-rises-in-volatile-assets-after-fomc-meeting" rel="noopener noreferrer nofollow">cryptocurrency</a> market has witnessed the swift ascent of a new Layer 3 network known as Degen Chain (DEGEN), which, despite its recent launch, has seen an impressive $100 million in transaction volume. With over 272,000 individual transactions recorded in the past day, Degen Chain’s influence is expanding rapidly, particularly on <a href="https://en.bitcoinhaber.net/the-soaring-potential-of-solana-predictions-for-2024" rel="noopener noreferrer nofollow">Solana</a> and Base networks.</p>
<h2 id="degen-chain-s-market-influence">Degen Chain’s Market Influence</h2>
<p style="text-align: justify">Since its initiation, Degen Chain has expedited the creation of a substantial number of contracts and tokens, totaling more than 7,500 and 2,300 respectively. However, a significant portion of these tokens have become associated with fraudulent schemes, including rug pulls. Degen Swap (DSWAP) has emerged as the leading token on the network, boasting a market value exceeding $14 million. Degen Pepe (DPEPE), another prominent token, has a market value of $23 million despite its speculative memecoin nature. The majority of tokens on the network are under the $1 million mark, often linked to speculative trading.</p>
<p style="text-align: justify">DEGEN, the primary asset of Degen Chain, has seen its price surge over 500%, reaching $0.6 since the network’s genesis. Trading slightly lower at $0.4763 recently, DEGEN is the sole means for transactions as the network currently does not support stablecoins.</p>
<h2 id="emerging-layer-3-technologies">Emerging Layer 3 Technologies</h2>
<p style="text-align: justify">Degen Chain is among the pioneers in the Layer 3 network space, designed to optimize the DEGEN token’s utility. The network is tailored to serve as the main asset for gas fees, tipping, community rewards, and gaming transactions. Layer 3 technology builds upon Layer 2 solutions, focusing on specialized functions and rapid, secure transactions, catering to specific needs like gaming and payments.</p>
<h3 id="points-to-consider">Points to Consider</h3>
<ul>
 <li>Degen Chain’s initial success demonstrates a high investor interest in Layer 3 networks and their specific applications.</li>
 <li>DSWAP’s and DPEPE’s high market values indicate a strong market presence and investor confidence in these tokens.</li>
 <li>The surge in DEGEN’s price points to a promising start for the network, despite the absence of stablecoin support.</li>
</ul>
<p style="text-align: justify">In conclusion, Degen Chain’s emergence exemplifies the rapid growth and innovation occurring within the cryptocurrency market. With a robust transaction volume and the development of numerous tokens and contracts, it’s clear that Layer 3 networks are starting to carve out their niche, potentially offering a new avenue for blockchain functionality and investment.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/degen-chain-gains-momentum-with-100-million-transaction-volume" rel="noopener noreferrer nofollow">Degen Chain Gains Momentum with $100 Million Transaction Volume</a></h5>

Degen Chain Gains Momentum with $100 Million Transaction Volume

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