As the market recovers from its recent price slump, several developments have captured the attention of crypto enthusiasts. VeChain’s (VET) price jumped after being listed on Coinbase, while Stellar (XLM) experienced a 7.5% price dip after announcing a rebrand. The play-to-earn meme coin Kangamoon (KANG) is also gaining popularity and offers a thrilling gaming experience and community-building.
Summary:
- Vechain price turned bullish after being listed on the Coinbase exchange.
- Stellar experienced a price decline of 7.5% after unveiling its rebrand
- Kangamoons captures the hearts of meme lovers in the crypto community
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VeChain (VET) Price Surges After Being Listed On Coinbase
VET, the native cryptocurrency of the VeChain network, increased in value significantly, jumping from $0.0146 to a high of $0.0166 following its listing on Coinbase. Another network token, VHO, was listes on the biggest crypto exchange in the United States.
Relative to the price on August 17, the VeChain price has confirmed a double-bottom pattern, which often leads to upward movements. In addition, development activity has surged in the past four weeks, indicating increased cryptocurrency demand.
With both the VeChain coin and VTHO token now trading on Coinbase, market analysts expect greater liquidity on the network starting in September. As a result, they are bullish about the price of VeChain going into the fourth quarter.
Stellar Price Drops in the Face of Unveiling Rebranding
Stellar (XLM) has rebranded to align with mainstream appeal, with actor Idris Elba as its new blockchain ambassador. The Development Foundation of Stellar described the transformation as a significant undertaking.
However, the announcement negatively affected the price of the Stellar coin, XLM, causing a significant 7.5% drop, suggesting investors may not have welcomed the change.
According to the Stellar price prediction algorithm, XLM could continue to decline. The algorithm does, however, foresee a price increase on the long-term Stellar chart. It predicts that XLM will rise above the resistance at $0.17, reaching 76.16% by March 2024.
P2E Gamers and Meme Coin Enthusiasts Flock To Kangamoon
Kangamoon (KANG) is creating an irresistible invite for meme coin enthusiasts and gamers to join its rapidly growing community. Kangamoon is one of the most exciting new projects, combining play-to-earn and meme coins for a unique new concept.
In the Kangamoon virtual game, players will assume the role of a spirited kangaroo with a passion for boxing. As they can build their characters and develop unique abilities, they will challenge a global community of P2E gamers.
Wins in each of these matches and tournaments are rewarded with digital coins and rare collectable items. These items can traded or sold on the Kangamoon marketplace for real cash. Kangamoon is an appealing P2E game because it allows investors to trade without incurring additional costs, which means a 0% buy-and-sell tax rate.
With the potential to change how we perceive meme coins, crypto experts have predicted that Kangamoon will emerge as a dominant player in the P2E space. It’s starting with an enticing starting price of just $0.005 per token, making it accessible to a wide range of investors.
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