A brand new area of interest spawned amongst meme coin merchants not too long ago: nation cash. In anticipation of the Olympic Video games set to occur in Paris in July, buyers are betting that the occasion will increase the costs of various tokens with the names of nations.
A dashboard created by the X person recognized as The Nouner is monitoring 47 completely different nation cash, which registered a buying and selling quantity of virtually $18 million within the final 24 hours, and have a shared whole market cap of practically $110 million.
American Coin (USA) is near $83 million valuation, which is the biggest market cap of the bunch. In accordance with DEX Screener, the USA has soared by over 74,000% since its inception on March 14 to its worth peak on Could 4.
China Coin (CHINA) comes because the second largest nation coin by a protracted stretch, displaying a $5.8 million market cap. Nonetheless, CHINA confirmed 23,000% development from its creation to its all-time excessive seen on March 14.
Analyzing the final 24 hours, the not too long ago deployed Palestine Coin (PALESTINE) holds probably the most important development because it leaps 764% on the time of writing. France Coin (FRA) and UK Coin (UK) are additionally displaying related development within the interval, rising 120% and 145% respectively.
The record of nation cash even consists of the Olumpec Terch (OLUMPC) meme coin, which mixes the Olympics narrative with the pattern of meme cash spelling names flawed. From the creation of its liquidity pool till its all-time excessive registered on Could 5, OLUMPC soared 6,400%.
