{"id":483848,"date":"2024-02-26T22:33:06","date_gmt":"2024-02-26T22:33:06","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=483848"},"modified":"2024-02-26T22:34:42","modified_gmt":"2024-02-26T22:34:42","slug":"is-sponge-v2-the-top-altcoin-to-invest-in-as-staking-exceeds-12-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/is-sponge-v2-the-top-altcoin-to-invest-in-as-staking-exceeds-12-million","title":{"rendered":"Is Sponge V2 The Top Altcoin To Invest In, As Staking Exceeds $12 Million?"},"content":{"rendered":"

Sponge V2<\/a> innovates the market with unique strategies for transaction fees, liquidity, and staking, building on its predecessor’s success.<\/p>\n

Although Sponge V2 maintains the appealing viral meme coin aspect of its previous iteration, the second version introduces token utility, potentially resulting in sustained demand over the long run.<\/p>\n

Sponge was introduced to the market in May 2023. Early investors in Sponge observed a comparable upward trend to PEPE, as the coin surged to a $100 million market cap, yielding returns of up to 100x for holders.<\/p>\n

The meteoric rise was enabled by listings on over ten prominent exchanges including MEXC, LBank, Poloniex, Gate.io and more. Sponge has more than 13K token holders and supported by 30K social media followers. $SPONGE then pulled back alongside other meme coins but exploded following the V2 announcement.<\/p>\n

Subsequently, $SPONGE retraced in line with other meme coins but experienced a surge following the announcement of V2. However, currently valued at $0.0000558, Sponge has undergone a 25% decrease in the past seven days, potentially offering an attractive entry point for new buyers.<\/p>\n

Capitalizing on Sponge V2 – Opportunities for Investors and Token Holders<\/h2>\n

If you weren’t able to benefit from Sponge’s quick success, you can still seize the opportunity to invest in Sponge V2<\/a> before it launches on major exchanges, which is highly anticipated. Building on the success of Sponge V1, V2 aims to offer increased utility and rewards while retaining the core elements of a meme token.<\/p>\n

The primary objective of Sponge V2 is to surpass V1, requiring investors to lock their V1 tokens into the V2 smart contract to obtain V2 tokens. Investors have two options, either buying V1 tokens and staking<\/a> them in the official pool or bridging existing V1 holdings to V2 through a straightforward staking mechanism.<\/p>\n

This ensures investors receive an equivalent number of V2 tokens in their wallets post-launch based on the amount of V1 tokens staked. Once the remaining supply of Sponge V1 is exhausted, Sponge V2 becomes available for claiming.<\/p>\n