How To Buy Sponge Crypto Token V1 And V2 Upgrade

Here is the complete guide that explains how one can buy $SPONGE tokens. The team behind $SPONGE has set several ambitious goals for the V2 token. According to the $SPONGE whitepaper, $SPONGE V2 is designed to be “bigger, better, and more absorbent” than the original $SPONGE.

SpongeBob Stablecoin Exchanges

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. The memecoin launched directly on Uniswap and gained considerable momentum following its launch. Tokenomics are a big indicator of the potential behind the meme coin. Projects which do not fairly allocate the amount of tokens that are distributed to the public usually will have less price action.

Now that Sponge is bridging from V1 to V2, people have more than a few reasons to stay invested in this token. 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.

This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong. Decentralized finance firm Sky, formerly Maker DAO, had recently upgraded its $USDS stablecoin, adding a ‘freeze function’ that allows the issuer to halt trading and redemptions. There are several reasons why investors should be excited about $SPONGE and take advantage of the current sale.

Some project allocate more tokens to the team, which will ultimately be sold when the project releases. Having a fair distribution of tokens is important to ensure that meme coin creates a liquid market where anyone is able to buy or sell the tokens without creating a dump effect. We cover various topics surrounding the cryptocurrency markets from exchanges, tokens across different categories, web3 innovations and some of the most sought after presales.

You will be able to access your V2 tokens once the stale-to-bridge phase is over. Sponge V1 is an ERC20 token which means that it can be swapped for ETH. Make sure that your connected wallet is funded with enough ETH to buy SPONGE and cover network fees. To stake your tokens, you must connect the same wallet to the Sponge website that you used to buy tokens from UniSwap. Users will need to connect their compatible crypto wallet to the official SPONGE website. For optimum connectivity we suggest to use MetaMask or TrustWallet.

Stake-to-Bridge Gives Investors a Chance to Move in Early

We feel that with the rise of new meme coins that have attracted mainstream attention. SPONGE V2 is potentially setting the stage for explosive growth. With an already existing strong and supportive community, the SPONGE team seems to have taken the correct steps to increase the longevity of the project. The stake-to-bridge mechanism is quite attractive for both existing holders and new curious traders. The main aspect which contributes to the success of meme coins is the community.

SpongeBob Trading Volume

Sponge is planning its second coming with the launch of its bridge to Sponge V2 tokens. This new project is leveraging the current bullish fever and is offering different perks. These perks, which include staking and P2E, spell good news for early movers. Those interested in this project should consider going to sponge.vip and buying Sponge tokens to stake them. 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.

1. In order to provide reliable information to readers we ensure that our experts test out platforms.
2. Although, currently there is limited information about the game, we can share some insights about what we do know from information released.
3. It is crucial for projects to develop and have some form of utility behind them.

You can tradeSpongeBob with many fiat currencies includingand many stablecoins such as USDT. For more information about the game readers will need to keep up to date with the SPONGE social channels as the team will release more details closer to the release date. For users who missed out on the 100x SPONGE price pump in the early part of 2023, there is now another potential opportunity to be a part of the SPONGE community. Readers may be wondering how to buy SPONGE V2 and how to participate in the presale.

They have also been engaging with the community and answering questions gamecredits mining calculator about the project. Despite the anonymity of the team, they have been actively promoting the memecoin on social media platforms such as Twitter, Telegram, and Discord. 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. Crypto exchanges are where users can buy, sell, and convert different cryptocurrencies. Here you can find list of all SPONGE exchanges where you can buy and sell SpongeBob, trade SPONGE with other cryptocurrencies including stablecoins, and fiat currency.

Ruby is a Finance Editor who has 5 years of experience in the finance and cryptocurrency space. Ruby attended the University of Winchester where she received a BSc in Psychology. During her studies, Ruby developed an interest in financial psychology and began writing content around the topic on a freelance basis. Whilst she was studying for her degree, Ruby spent time learning about personal finance, investing and trading. She has written content for The Motley Fool UK, Bankless Times and Cryptonary where she also worked as an editor. Her interest in cryptocurrency came about after writing a piece for The Motley Fool about the rise of CBDCs.

It can also build engagement within the $SPONGE community, which is good for the project’s long-term health. Visit the SPONGE project site and click ‘Connect Wallet.’ Follow the prompts to authorize the wallet connection. One of the unique features of Sponge is its partnership with Tamadoge, a Web3 gaming project.

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. To get $SPONGE V2, investors must buy V1 tokens and permanently stake them. Staked V1 tokens will yield rewards paid in V2 tokens at a variable APY. Investors who buy new $SPONGE V1 and stake it now will earn a 100% purchase bonus in V2 tokens.

$SPONGE already delivered a 100x return for investors once, and it looks set to do it again. $SPONGE almost hit a $100 million market cap in May 2023, peaking just shy of that milestone. Now, the project wants to get back to $100 million and shoot even higher.

Although, past performance should never be indicative of future results, we feel that SPONGE V2 could follow the same suite as the likes of PEPE 2.0. This is mainly due to there still being a supportive community backing, with the project firmly holding over $10 million market cap and thousands of token holders. Meme coins tend to outperform other cryptos when there is a bullish sentiment in the markets. This is due to web3 communities coming together to support meme coins, speculating on the future price performance of a token. Although, past performance is not indicative of future results, many meme coins will go through cycles with the price fluctuating at any given times. Usually when a meme coin has flatlined, meme enthusiasts will flock to the token and create positive community engagement across crypto group chats and X (crypto Twitter).