Surge in Kangamoon (KANG) Buying Activity Sees Tether (USDT) Holders Diversify

The post Surge in Kangamoon (KANG) Buying Activity Sees Tether (USDT) Holders Diversify appeared first on Coinpedia Fintech News

While the crypto market has new opportunities to offer every day, Kangamoon, the rising memecoin, is aiming for the top memecoin spot in 2024. Meanwhile, Tether holders are unsure about the stablecoin after the negative JP Morgan report.

Kangamoon is set to topple the top meme coins

Crypto enthusiasts are on the lookout for something new every day. In recent days, the crypto market has witnessed a surge in the popularity of Kangamoon, an emerging meme coin. The coin is a perfect combination of the meme as well as the gaming world.

With features such as SocialFi and Play-to-Earn, the project enables users to explore the booming Play-to-Earn NFT market. The market is expected to boom at a CAGR of 21.3% in 2022–2031. As a community-driven platform, it fosters a vibrant community of like-minded individuals.

Within the ecosystem, players will get to participate in fun-filled games, activities, and discussions. Further, the game allows players to build their unique characters, go on quests, engage in challenges worldwide, and much more. 

Moreover, as they progress through the game, players will get an opportunity to earn KANG, the in-game tokens. Further, players can trade these tokens for tangible rewards with real-world value, enabling them to earn from their gaming skills.

Additionally, players can use these tokens to buy and sell in-game characters, rare collectibles, and more. For members who are not gaming enthusiasts, the platform allows bets on the outcomes of challenges for rewards.

Unlike other cryptocurrencies, Kangamoon enables holders to earn KANG tokens and rewards before launch. Kangamoon is set to get ahead of the leading meme coins, with analysts predicting a 220% growth upon completion of the presale. At its current price of $0.005 in the first stage of the presale, Kangamoon is becoming the hottest meme coin of the year.

J.P. Morgan reports negative news about Tether’s (USDT) growth

Leading investment bank, JP Morgan, stated that the growing popularity of stablecoin, Tether , is bad for the overall market. In a recently published research report, the bank says that the increasing concentration of Tether over the past year may be negative for the Stablecoin universe, and the overall crypto market.

The report highlights that stablecoins are facing risks given their lack of regulation, making Tether a potential victim.

Following the report, Tether’s CEO stated that USDT’s market dominance could negatively impact competitors, especially in the banking industry. He further commented on the Black Swan event last year, highlighting that Tether showed more resilience as compared to most US banks. Additionally, he hinted at the hypocrisy shown by the bank while talking about growing concentration despite being the biggest bank in the world.

Tether, priced at $1, has witnessed a 90.29% spike in volume. In the past week, Tether experienced 0.14% growth. However, in the past 24 hours, the stablecoin experienced a drop of 0.1%.

Discover the Exciting Opportunities of the Kangamoon (KANG) Presale Today!

Website: https://Kangamoon.com/

Join Telegram Community: https://t.me/Kangamoonofficial