Surprisingly, the newly introduced Ethereum (ETH) token standard, ERC-404, made an impressive debut in the crypto market, outperforming many other digital assets. However, as Bitcoin (BTC), the dominant cryptocurrency, began to rally, investors swiftly shifted their focus to the king of crypto. Consequently, this shift led to notable price drops and market capitalization declines across the ERC-404 ecosystem and its associated tokens. From Skyrocketing Surges To Sharp Corrections According to data from CoinGecko, the ERC-404 sector has experienced a significant decline, with an overall market capitalization drop of 29% in the past 24 hours. Key tokens within this sector, including PANDORA, DeFrogs, RUG, Froggy Friends, and Crystal, have all witnessed substantial price decreases. PANDORA, which had garnered attention and speculation, surged by a staggering 12,000% within a week. Opening at $250 on February 3, 2024, its value skyrocketed to over $34,000 per token by February 9, 2024. However, it dropped by 38% from its all-time high (ATH) in just 24 hours. Related Reading: Top-Trader Picks Cardano As Bull Market Leader: Here’s Why On the other hand, Crystal suffered the most significant losses, with its price plumm ..
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