Telegram’s blockchain platform, The Open Network (TON), is set to benefit from a substantial financial injection from Bitget and Foresight Ventures, enhancing the development of TON applications within Telegram.
On Sept. 18, Bitget announced a strategic investment of $30 million into TON. This funding aims to bolster major play-to-earn (P2E) games on Telegram, highlighting titles such as Hamster Kombat and Notcoin.
The investment from Bitget and Foresight will be channeled through the purchase of Toncoin (TON), the utility token essential for running decentralized applications (DApps) on the TON ecosystem. This move is expected to deepen their involvement in TON’s governance and its future development trajectory.
“As Bitget continues to BUIDL around The Open Network, our partnership with the TON blockchain provides a solid foundation for driving initiatives that align with our vision,” said Bitget CEO Gracy Chen. She added:
“By integrating our expertise in crypto infrastructure with TON’s decentralized architecture, we are well-positioned to strengthen the development of innovative products and solutions.”
The TON ecosystem has experienced a significant surge since the introduction of Telegram Mini Apps in 2023, driven by rapid adoption rates of DApps like Notcoin and Hamster Kombat. Current statistics from DefiLlama show the total value locked (TVL) in TON projects at $403.5 million, marking a dramatic increase from the start of the year.
Foresight Ventures’ co-founder and CEO, Forest Bai, sees the expansion within the TON ecosystem as a prime market opportunity for the coming years.
“The ecosystem currently boasts over 1,000 DApps, with many applications having millions of users,” Bai noted, expressing Foresight’s commitment to further nurturing the developer community within the TON ecosystem through investment, incubation, and marketing efforts.
Alongside the investment news, Bitget also announced a significant user growth, reaching 45 million globally and ranking as the fourth largest crypto exchange by trading volume, with daily volumes peaking at $1.5 billion. This growth reflects the rising interest in innovative projects, particularly those affiliated with platforms like TON.
Are you wondering how cryptocurrency fits into hedge fund strategies? I understand the feeling. I’ve spent many late nights researching this topic to gain clarity. The Global Crypto Hedge Fund Report reveals an interesting statistic – 29% of traditional hedge funds are now investing in crypto-assets.
It’s quite surprising. In this post, I’ll explain crypto’s role in hedge funds and explore its potential for future growth. So get comfortable as we explore this cutting-edge intersection of finance and technology.
You might gain some new insights along the way.
Key Takeaways
- 29% of traditional hedge funds now invest in crypto-assets, showing growing interest in digital currencies.
- 91% of traditional hedge funds with crypto exposure invest in Bitcoin and Ethereum, up from 67% last year.
- Crypto hedge funds use diversification and market neutral strategies to manage risk and seek profits in volatile markets.
- Regulatory uncertainty remains a key challenge, with 23% of traditional hedge funds worried about U.S. regulatory changes.
- Bitcoin has shown an average annual return of 1,576%, highlighting the potential for high returns in crypto investments.
Current Trends in Crypto Hedge Fund Investments
Crypto hedge funds are gaining traction fast. More investors want a piece of the digital asset pie.
Growing investor demand
I’ve noticed a surge in investor demand for crypto hedge funds lately. This trend reflects a growing interest from both traditional and new investors. Recent data shows that 75% of institutional investors are highly interested in crypto ETFs.
What’s more, nearly half of these investors plan to add crypto ETFs to their portfolios within the year. This shift marks a significant change in how the financial world views digital assets.
The growing demand isn’t limited to just ETFs. Traditional hedge funds are also showing increased curiosity about crypto investments. In fact, 37% of these funds, while not currently invested, are waiting for greater asset maturity before jumping in.
This number has risen from 30% last year. Despite some negative perceptions from market events, many investors still see potential in crypto assets. Next, let’s look at how hedge funds are increasing their crypto asset allocation.
Increase in crypto assets allocation
I’ve noticed a significant rise in crypto asset allocation among hedge funds. Recent data shows that 91% of traditional hedge fund investors with crypto exposure now invest in Bitcoin and Ethereum.
This marks a big jump from 67% last year. Hedge funds see the potential in digital assets, despite the current bear market.
Interestingly, 54% of traditional hedge funds with crypto investments plan to keep their capital levels steady this year. Meanwhile, 46% aim to increase their investment. This shows a slight dip in growth plans compared to last year when 67% intended to boost their crypto holdings.
Still, the overall trend points to continued interest in digital assets from institutional investors. Next, let’s explore the strategies these funds use to navigate the crypto market.
Strategies Employed by Crypto Hedge Funds
Crypto hedge funds use smart tactics to make money. They mix different digital coins and use special trading tricks to grow their cash.
Diversification through digital assets
I’ve seen firsthand how crypto hedge funds use digital assets to diversify their portfolios. These funds add Bitcoin, Ethereum, and other cryptocurrencies to their mix of stocks and bonds.
This move helps them spread risk and tap into new growth areas. Digital assets offer a fresh way to balance investments and chase higher returns.
Diversification and arbitrage opportunities are the main reasons hedge funds invest in crypto, says Haipo Yang.
Crypto assets give hedge funds exposure to a high-growth market. As more big players enter the crypto space, demand for specialized crypto hedge funds will likely rise. I’ve noticed that many funds view the crypto market as fair and open, much like traditional hedge funds in the 1990s.
This trend points to more growth and interest in crypto investments from big money managers.
Market neutral and directional strategies
Moving from diversification, I’ll explore market neutral and directional strategies in crypto hedge funds. These approaches shape how funds manage their portfolios. Directional strategies bet on the growth of digital assets.
Market neutral strategies aim to protect against broad market shifts. A 2020 PwC survey found quantitative strategies were most common among crypto hedge funds, though less popular than before.
I’ve seen a rise in basis trading as a key market-neutral strategy. In February 2021, Bitcoin futures traded at a premium. The spot price was around $57,000, while September futures hit $63,000.
This gap creates chances for profit. Many funds have updated their risk management. In fact, 53% of crypto hedge funds changed their counterparty risk processes. These steps help funds navigate the volatile crypto market more safely.
Challenges and Opportunities for Hedge Funds in Crypto Investments
Crypto hedge funds face tough rules and unclear laws. They also have a shot at big profits and new ways to grow money.
Regulatory hurdles
I’ve seen firsthand how regulatory hurdles impact crypto hedge funds. In my experience, 23% of traditional hedge funds with crypto exposure worry about U.S. regulatory changes affecting them significantly.
This uncertainty has led 12% of crypto hedge funds to consider relocating. I’ve noticed that not all funds are ready for crypto risks, causing some big investors to slow down or pause their crypto investments.
Germany’s more uniform rules for digital assets have caught my eye as a potential solution. Despite these challenges, I’ve observed that new laws are helping build a stronger, safer crypto sector.
Still, unclear regulations remain a big roadblock for many looking to invest in crypto.
Potential for high returns
I see huge potential for high returns in crypto hedge funds. Bitcoin has shown an average annual return of 1,576%, which is truly impressive. Knowledgeable investors can take advantage of inefficiencies in crypto markets to boost their gains even further.
As we move from a bear to bull market, crypto hedge funds are expected to perform strongly this year.
Discretionary trading strategies have historically yielded higher returns during major crypto market growth periods. This approach could lead to lucrative gains for savvy traders. The digital asset market recently hit a $1 trillion valuation, showing its massive growth.
Institutional investors are also starting to recognize the innovation happening in DeFi on Ethereum, opening up new opportunities for impressive returns.
Conclusion
Crypto hedge funds show strong growth potential despite recent market challenges. Many traditional hedge funds plan to keep or boost their crypto investments. This trend points to a bright future for digital assets in the investment world.
As the crypto market matures, more funds may join this exciting space. Hedge funds that embrace crypto could find new ways to grow and serve their clients better.
Selecting a secure and convenient cryptocurrency wallet can be complex. I’ve experienced the same confusion, faced with numerous options and feeling overwhelmed. After extensive wallet research, I’ve identified key factors that can simplify the decision.
I’ll guide you through finding the balance between strong security and user-friendly design. By the end of this article, you’ll have a clear plan for choosing the ideal crypto wallet to match your specific needs.
Key Takeaways
- Choose a crypto wallet with strong security features like robust private key protection, malware defense, and two-factor authentication to guard against cyber threats.
- Consider convenience and user-friendliness when selecting a wallet, looking for simple interfaces, built-in trading functions, and features like QR code scanning for easy transactions.
- Hot wallets offer quick access for frequent trading, while cold wallets provide enhanced security for long-term storage of large holdings.
- Protect your digital assets by securely managing private keys, using strong passwords, enabling two-factor authentication, and conducting regular security audits.
- With 93 million Americans owning crypto and 63% planning to grow their assets, selecting the right wallet that balances security and convenience is crucial for effective crypto management.
Key Considerations for Selecting a Crypto Wallet
Choosing a crypto wallet involves key factors. I’ll guide you through the most important aspects to consider.
Security Features
I always prioritize security features when choosing a crypto wallet. Strong private key protection tops my list, as losing access is like forgetting my bank PIN. I’ve seen firsthand how cyber threats can wreak havoc on digital assets.
That’s why I opt for wallets with robust malware protection and two-factor authentication. These safeguards help me fend off phishing attacks and other sneaky tricks hackers use.
Personal wallets give me more control over my crypto, which I prefer to exchange wallets. Still, I know top platforms offer insurance if breaches occur. I also favor open-source wallets because experts can review their code.
This extra layer of scrutiny boosts my confidence in the wallet’s security. With nearly 93 million Americans owning crypto, I’m glad more people are taking wallet security seriously.
Convenience and User Interface
After ensuring my wallet’s security, I focus on convenience and user-friendliness. A good crypto wallet should make transactions easy. I look for wallets with simple interfaces and helpful features.
Many new crypto users prefer built-in wallets on trading platforms. These offer both ease of use and added security.
I value wallets that let me buy crypto directly or swap currencies within the app. QR code scanning for payments is another plus. It makes sending and receiving funds quick and simple.
For active traders, wallets with trading functions are ideal. RockWallet PRO, launched on May 29, 2024, offers BSV pair trading right in the wallet. With 63% of crypto owners planning to grow their assets, user-friendly wallets are key for managing larger portfolios.
Comparing Hot and Cold Wallets
I’ll compare hot and cold wallets for you. Hot wallets connect to the internet, while cold wallets stay offline for better security.
Benefits of Each and Optimal Use Cases
Hot wallets offer quick access to my crypto assets, making them ideal for frequent trading. I can easily manage my funds on-the-go using mobile apps or desktop software. They’re more susceptible to online threats, though.
Cold wallets, in contrast, provide enhanced security for long-term storage. They keep my private keys offline, protecting them from hackers.
For day-to-day transactions, I prefer hot wallets like Coinbase Wallet. It supports thousands of crypto assets and allows staking. When I need high-level security for large holdings, I use cold wallets such as Ellipal Titan.
It uses QR codes instead of USB or Bluetooth connections, adding an extra layer of protection.
The right wallet choice balances security and convenience, suited to your crypto needs.
Essential Tips for Safeguarding Your Digital Assets
I’ll share key tips to keep your digital assets safe. Read on to learn how to protect your crypto investments effectively.
Private Key Management and Regular Security Audits
Private key management and regular security audits are vital for protecting your digital assets. I’ll share some key tips to help you safeguard your cryptocurrencies and maintain wallet security.
- Secure your private keys: Store them offline in a safe place, like a hardware wallet or paper backup. Never share your private keys with anyone.
- Use strong passwords: Create unique, complex passwords for each wallet and exchange account. Avoid using personal info or common phrases.
- Enable two-factor authentication (2FA): Add an extra layer of security to your accounts with 2FA, preferably using an authenticator app.
- Backup your wallet regularly: Make multiple copies of your wallet data and store them in different secure locations.
- Update your software: Keep your wallet software and operating system up-to-date to patch security vulnerabilities.
- Use hardware wallets: For large amounts of crypto, invest in a hardware wallet for enhanced security.
- Conduct regular security audits: Check your accounts for any suspicious activity and review your security settings often.
- Be cautious of phishing attempts: Verify website URLs and email addresses before entering sensitive information.
- Use open-source wallets: These allow for code review by independent security experts, increasing trust and reliability.
- Consider insurance coverage: Some top exchange platforms offer insurance for cybersecurity breaches, adding an extra layer of protection.
Conclusion on Selecting the Ideal Crypto Wallet for Your Needs
Selecting the appropriate crypto wallet is essential for protecting your digital assets. I’ve provided crucial advice to assist you in choosing a secure and user-friendly option. Consider the balance between security features and usability.
Always safeguard your private keys and keep your wallet software up to date. Following these guidelines will help you find a wallet that meets your crypto requirements effectively.
Daddy Elon could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Daddy Elon (DADDELON), a new Solana memecoin that was launched recently, is poised to explode over 19,000% in price in the coming days.
This is because DADDELON is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Daddy Elon can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Daddy Elon could become the next viral memecoin.
Daddy Elon launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Daddy Elon on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Daddy Elon by entering its contract address – FJhFLcgdxPr47QogtQ8jSdB7Vk9ziciCuVsj9mEibqNB – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DADDELON.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
A cohort of former Coinbase executives is set to launch TrueX, a new digital asset exchange that will utilize PayPal’s stablecoin, PYUSD, as its primary settlement currency.
On Sept. 18, True Markets introduced TrueX, branding it as a “non-custodial, stablecoin-native exchange.” This venture garnered $9 million in seed funding from notable backers including Paxos, Solana Foundation, and Aptos.
According to a press release, TrueX has partnered with Paxos, the issuer of the PayPal USD stablecoin, to adopt PYUSD as the default settlement currency on its platform. PYUSD boasts a significant presence in the crypto world, with a market capitalization exceeding $730 million.
Stablecoins, like PYUSD, are designed to offer price stability and are typically backed by specific assets or algorithms; PYUSD is backed on a one-to-one basis by the United States dollar.
The minds behind TrueX, Vishal Gupta and Patrick McCreary, bring a wealth of experience from their tenure at Coinbase and other prestigious financial institutions. Gupta, before co-founding TrueX, led the exchange team at Coinbase and was head of USD Coin McCreary, a senior staff engineer at Coinbase, played a crucial role as one of the primary architects of Coinbase’s International Exchange. Both executives also held senior positions at Goldman Sachs.
Gupta highlighted the evolving demands of clients who prioritize the security of segregated execution and custody:
“Clients now demand the security of true segregation of execution and custody. Our team has worked diligently to meet these needs, leveraging the power of stablecoins to facilitate efficient liquidity and settlement solutions.”
TrueX plans to initiate service for U.S.-based institutions and some international entities.
This launch aligns with a growing trend where infrastructures are increasingly supporting the integration of institutions into the Web3 space, as evidenced by DBS Bank’s recent announcement on Sept. 17 about offering crypto options and structured notes to institutional investors later in the year.
Trump vs China could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
Trump vs China (TRUMPCHI), a Solana memecoin launched recently, is set to explode over 12,000% in price in the coming days.
This is because TRUMPCHI is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, Trump vs China can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump vs China could become the next viral memecoin.
Trump vs China launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Trump vs China on Raydium.io or Jup.ag ahead of the CEX listings, you need to connect your Solflare, MetaMask or Phantom wallet, and swap Solana for Trump vs China by entering its contract address – AbW2Bt7D41smj93d2PwaQp5HKu1BzNc8X643aJ6GBEUH – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPCHI.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
As the United States Federal Reserve approaches its first rate cut in four years, BitMEX co-founder Arthur Hayes has offered his insights on the potential impacts on the cryptocurrency market during his keynote at Token2049 in Singapore on Sept. 18.
The speech, titled “Thoughts on Macroeconomics Current Events,” explored the financial dynamics of holding Treasury bills with a 5% yield versus investing in cryptocurrencies amid impending market shifts triggered by the Fed’s decision.
Before delving into cryptocurrency implications, Hayes criticized the Federal Reserve for its strategy.
“I think that the Fed is making a colossal mistake cutting rates at a time when the US government is printing and spending as much money as they ever have in peacetime,” he commented, predicting a market collapse shortly after the rate cut.
According to Hayes, the likely reduction in rates—anticipated to be between 50 to 75 basis points—could destabilize markets by reducing the interest rate differential between the US dollar and the Japanese yen.
“We saw what happened a few weeks ago when the yen went from 162 to about 142 over about 14 days of trading. That caused almost a mini financial collapse,” he explained.
Hayes then compared the yields on cryptocurrencies to those of Treasury bills, questioning the appeal of riskier investments when more secure options like T-bills offer comparable returns.
“Because why would you invest in a riskier DeFi application when all you can do is call up your broker and put your money in T-bills and make 5.5%?” he questioned.
Focusing on the performance of cryptocurrencies like Ether, Hayes pointed out its recent underperformance compared to Bitcoin and labeled it an “internet bond” with a 4% yield. Despite current trends, he remains invested, foreseeing a potential rebound.
“If the yield drops quickly, which I believe it will, then Ethereum becomes money, and I’m earning more,” Hayes speculated, concluding with a broader market prediction:
“As we see rates quickly decline, as I expect, because the Fed is going to cut rates, markets are going to tank and they’re going to say, well let’s do more of that because that’s what’s going to fix things. We could reignite the Ethereum bull market.”
Daddy Elon could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Daddy Elon (DADDELON), a new Solana memecoin that was launched recently, is poised to explode over 19,000% in price in the coming days.
This is because DADDELON is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Daddy Elon can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Daddy Elon could become the next viral memecoin.
Daddy Elon launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Daddy Elon on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Daddy Elon by entering its contract address – FJhFLcgdxPr47QogtQ8jSdB7Vk9ziciCuVsj9mEibqNB – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DADDELON.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Trump vs China could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
Trump vs China (TRUMPCHI), a Solana memecoin launched recently, is set to explode over 12,000% in price in the coming days.
This is because TRUMPCHI is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, Trump vs China can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump vs China could become the next viral memecoin.
Trump vs China launched with over $9,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Trump vs China on Raydium.io or Jup.ag ahead of the CEX listings, you need to connect your Solflare, MetaMask or Phantom wallet, and swap Solana for Trump vs China by entering its contract address – AbW2Bt7D41smj93d2PwaQp5HKu1BzNc8X643aJ6GBEUH – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPCHI.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Daddy Elon could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Daddy Elon (DADDELON), a new Solana memecoin that was launched recently, is poised to explode over 19,000% in price in the coming days.
This is because DADDELON is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Daddy Elon can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Daddy Elon could become the next viral memecoin.
Daddy Elon launched with over $8,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Daddy Elon on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Daddy Elon by entering its contract address – FJhFLcgdxPr47QogtQ8jSdB7Vk9ziciCuVsj9mEibqNB – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like DADDELON.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.