Stage 1 of Toon Finance’s ICO, whose meme coins soared after Elon Musk bought Twitter, is completely sold out.
Elon Musk’s $42 billion purchase of Twitter caused a surge in meme cryptocurrencies. For the cryptocurrency sector as a whole, and for fans of joke coins everywhere, this is a huge step forward.
There is no need to remind anyone that Elon Musk is among the world’s biggest tycoons. He’s into meme coins and other alternative cryptocurrencies such as DogeCoin. He constantly tweets about meme coins, exposing them as the next big 1000x mooner.
Toon Finance, on the other hand, is now the most talked about ICO, garnering widespread coverage after rapidly advancing past the presale round.
Toon Finance Sells Out In Presale Stage 1
The easiest way to test out an initial coin offering (ICO) cryptocurrency concept is through a presale. That way, you can participate in the ICO as an early investor and have a direct impact on the direction of the venture. They can keep tabs on the development of the crypto project in real-time. Over $3 million each week has been raised through this project’s successful presale ICOs, making it one of the year’s top projects overall.
One billion Toon Finance tokens are a part of the system, with 500 million being made available during the presale. The use of decentralized trading pairings adds another 500 million.
Furthermore, the team decided to offer something extra to ICO presale investors. It generated 10,000 new cartoon characters to populate the NFT library. These NFTs will be distributed to the first 10,000 people to sign up for the Toonie Army. With so many great features, this ICO is sure to be a hit in the crypto world.
TamaDoge Is Down
Also, TamaDoge is down, with a current price of $0.034533 and a volume of $4,700,429. Ranking at number 2677 on CoinMarketCap, its value has decreased by 8.10 percent in the past day.
After the Toon Finance idea gained a lot of attention, Tama plunged 400 percent, experts say. Now that Toon Finance has surpassed Tama, Big Eyes will likely follow suit, and if this trend continues, Tama might become Elon Musk’s next DogeCoin. It would certainly seem as though Musk backs this initiative.
One reason for the delay in sales was that Tama only traded OKX in a handful of countries. It made trading more difficult, which ultimately led to the collapse of decentralization. This might have affected it in a negative way that it now needs time to come back from. In the meantime, Toon Finance is getting bigger and better every day.
What About Bitcoin?
Even those who aren’t investors and don’t know much about cryptocurrency will be aware of bitcoin, and they might be wondering what is happening in that arena after Toon Finance’s good news regarding their presale.
The price of bitcoin fell below $20,000 in 2022, which was a very rough year for cryptocurrencies all around – barring newcomers like Toon Finance, of course, as we have seen. Since November 2021, when it hit a record high of $69,000, bitcoin’s value has been decreasing. So, should you trust that bitcoin will come back, or should you run a mile?
As investors reduce their appetite for risk in response to rising inflation and interest rates, the price of cryptocurrencies has followed the stock market down. Bitcoin’s price dropped below $20,000 in June and has since hovered around that mark.
Recent upheaval can be traced to:
- Uncertainty over the impact of rising interest rates in the United States and the United Kingdom has led investors to dump riskier assets.
- Investors have less spare cash to spend on bitcoin and other cryptocurrencies as a result of the cost of living problem caused by growing inflation.
- Financial cryptocurrency transactions are now prohibited in China.
- Price drops have been linked to rumors that Russia may outlaw trade and mining of cryptocurrencies.
- A future regulatory crackdown on bitcoin investments has also been threatened.
Whether or not bitcoin will return to the highs seen at the end of 2021 is completely unpredictable. Due to the speculative nature of the crypto market, its future value is difficult to foresee. That is to say, Bitcoin’s value will move in tandem with the sentiment of the cryptocurrency market as a whole.
Ethereum And Toon Finance
Ethereum is a decentralized platform that supports the execution of “smart contracts,” or apps that carry out their specified tasks without the chance of fraud or external interference. Blockchain, a specialized distributed ledger used to record transactions and verify identities, underpins these applications.
Without the need for a trusted third party or the exposure to risk posed by a counterparty, developers can build markets, keep records of obligations or pledges, transfer assets in accordance with instructions from the past (like a will or a futures contract), and do much more.
Why is this important? It’s because you can use Ethereum to participate in Toon Finance’s next presale, and that could be very important indeed. Knowing what we know already about how well – and quickly – this could go, being prepared now is crucial if you want to make the most of this opportunity to invest.
Elon Musk’s Foray Into Crypto
Tesla and SpaceX CEO Elon Musk has been a vocal supporter of cryptocurrency, frequently tweeting about Bitcoin and Dogecoin. Recently, he announced that Tesla would begin accepting Bitcoin as payment for its electric vehicles. This move sent the price of Bitcoin skyrocketing, and caused many people to invest in cryptocurrency for the first time. But what does this mean for the future of crypto? Only time will tell.
The Impact of Elon Musk’s Support
Elon Musk’s endorsement of cryptocurrency has had a major impact on the prices of Bitcoin and Dogecoin. Immediately after he announced that Tesla would begin accepting Bitcoin as payment, the price of Bitcoin surged by over 20%. This caused a ripple effect throughout the crypto market, with other major coins such as Ethereum and Litecoin also seeing significant gains.
What’s more, Musk’s support has helped to legitimize cryptocurrency in the eyes of many people who were previously skeptical. When such a high-profile individual shows interest in an asset, it often leads to a surge in demand from regular investors who want to get in on the action. This was certainly the case with Tesla’s announcement, as it led to a wave of first-time crypto investors buying up coins.
The Future of Crypto
It remains to be seen what effect Elon Musk’s continued involvement in cryptocurrency will have on the market. Some experts believe that his support could lead to even more mainstream adoption of crypto, which would ultimately lead to even higher prices.
On the other hand, there is always the possibility that Tesla could back away from Bitcoin if the price becomes too volatile or if regulations change. Only time will tell what the future holds for cryptocurrency.
With coins like Dogecoin and Toon Finance coin on the rise what does this mean for Elon and the continued support for the crypto world? Will he be adding these meme coins to his new Twitter platform that Mr. Musk took over in late October for a whopping $44 Billion USD.
It is also said that CZ Binance is taking over Sam Bankman Fried’s FTX platform however Binance says the platform is beyond repair which is not a good sign for the FTX owner.
Elon Musk’s recent entry into the world of cryptocurrency has had a major impact on the prices of Bitcoin and other major coins. His endorsement has helped to legitimize crypto in the eyes of many people and his involvement could lead to even more mainstream adoption in the future. Only time will tell what effect Musk will have on the world of cryptocurrency.
Toon Finance is the leading presale ICO at the moment and Elon Musk has mentioned the token on twitter, this may be some of the reason why Toon Finance’s presale is exploding at the moment completely selling out of stage 1.
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