After the expansion of the encrypted market, some of these currencies began to receive more funding attention. The most recent high-performing tokens include SPX6900, Polygon's POL, Pudgy Penguins' PENGU, and Ethena's ENA. Their rise has been driven by, respectively, exchange liquidity, shifting chains, project proposals and institutional cooperation.

SPX6900 to stage height

SPX6900 at one time stood at $0.60, with a single-day increase of about 11 to 12 per cent, within a week, 65 to 70 per cent, and a market value of close to $600 million. Market concerns focused on three main points.

  • Upbit, Bithum, etc.
  • The chain shows that giant whales are stronger than pie.
  • The price went through eight months of cleaning.

In addition, Coinbase suspended SPX contract transactions on August 26th. If the participation of leveraged funds declines, the structure of subsequent fluctuations may be different from that of previous periods.

POL rises and goes back to 0.10.

Polygon's POL rose by about 50 per cent within a week and then fell back between 0.10 and 0.11 dollars. The central message of the push is the pledge mechanism adjustment proposed by Sandeep Nailwal, co-founder of Polygon Labs.

In the direction of the proposal, network transaction costs would be more allocated to POL pledgeers than to continued reliance on inflationary incentives. At the same time, Nailwal states that the revenue of the Polygon network has increased by about 10 times this year. If the programme landes, the pledge rate is expected to nearly double, which is one of the main reasons for re-pricing POL.

PENGU and ENA are being catapulted.

The PENGU transaction price was close to $0.0097, with an increase of about 35 to 60 per cent during the week, and a single-day deal of over $300 million. A four-faced emoticon post from Pudgy Penguins, CEO Luca Netz, was interpreted by some traders as likely to imply stock listing.

However, there is currently no first-time public information that has been confirmed, and PENGU holders do not own the shares of the brand parent company Iglo Inc. As a basic addition to the brand, Pudgy Penguin toys are now entering Target and Walmart marketing channels.

The price of the ENA rose to approximately 0.146 dollars, almost double the lower point in mid-August. On 19 August, Ethena and FalconX announced that they would launch a $1 billion guaranteed loan arrangement to finance institutional loans with assets supporting the USD stabilization currency. Even if the recent rebound is clear, the current price of ENA is about 90 per cent below historical highs.