X Money App May Use Nollars Network To Speed Up Dogecoin Transfers

The post X Money App May Use Nollars Network To Speed Up Dogecoin Transfers appeared first on Coinpedia Fintech News

Currently, the NOLA token presale [Nollars.com] has crossed the milestone of 100K sold and  sparking new speculation that could potentially increase buyer activity this week. There are ongoing discussions among crypto traders about the possibility that the Nollars Network will play a significant role in the upcoming payment system called “Money,” which is being developed for the X social media platform (formerly known as Twitter) by Elon Musk.

When will the X payment system ‘MONEY’ Launch?

The launch of the MONEY application is anticipated to take place sometime in 2025, and it is expected that Dogecoin (DOGE), the original memecoin, will be a primary cryptocurrency option within this system. Analysts predict that Dogecoin’s value could rise significantly, potentially exceeding $1 from its current price of 36 cents by the time “MONEY” launches.

Speculation suggests that the upcoming Nollars Network IES Layer-2 blockchain may influence how Dogecoin is utilized within the X platform. There are several reasons behind this speculation, largely tied to Elon Musk’s rationale for choosing Dogecoin. Unlike Bitcoin, Dogecoin is not a deflationary currency, and its larger token supply makes it psychologically more appealing for transactions. Additionally, Dogecoin operates on its own blockchain, which facilitates fast transactions and app development.

However, one limitation of Dogecoin is its lack of cross-chain capabilities. 

This is where the Nollars Network (NOLA) is thought to make a significant contribution. 

How Nollars will help

The upcoming blockchain aims to address this gap by providing a solution through its IES (Ineffable Exchange System) Layer 2 technology. This will serve as the foundational layer for a future project designed to enable multi-blockchain swaps of memecoins. The Nollars Network’s mainnet is expected to be the core of various decentralized applications, facilitating quicker and more cost-effective transactions for Dogecoin compared to traditional crypto exchanges.

The $NOLA token is critical in facilitating these transactions and has seen increasing interest during its presale phase. Notably, large investors in the crypto space have been acquiring substantial amounts of NOLA tokens, suggesting that these informed investors may anticipate significant news forthcoming about the project.

So far, 11 investors have purchased sizable amounts of NOLA, reflecting strong support for the ecosystem. Additionally, smaller investors, often referred to as “crypto shrimp and crabs,” have been consistently dollar cost averaging (DCA) into the project.

The presale currently offers the $NOLA token at a discounted price of $0.50, presenting a potential profit opportunity for investors. The token is confirmed to launch on crypto exchanges in May at a listing price that is projected to be 66% higher than its initial offering, at 83 cents. The Money application on X is rumored to go live within the second to third quarters of this year, further contributing to speculation that Dogecoin will be the primary choice for peer-to-peer payments within this new ecosystem.