Important points
On Tuesday, NYSE Arca filed an application form for the Spot Solana ETF on behalf of Grayscale Investments.
iDEGEN pre-market auction exceeds $2 million/
Spot Solana ETF Grayscale File
NYSE Arca, the exchange-traded products platform of the New York Stock Exchange, has submitted an application form for the Spot Solana ETF on behalf of Grayscale Investments. The exchange filed a 19b-4 form against Grayscale Solana Trust on Tuesday. This indicates that companies want the SEC to approve rule changes.
Several companies have filed to list Solana ETFs with the SEC, including 21Shares, VanEck, Bitwise Asset Management, and Canary Capital.
What is Idegen?
The launch of the Spot Solana ETF will benefit projects within the Solana ecosystem. One of the promising projects on blockchain is Idegen. This project focuses on the growing AI and memecoin ecosystem.
iDEGEN is a sentient degenerate AI memelord. According to the development team, iDEGEN will learn, evolve, and adapt based on what the community contributes to X. Basically, this tool is powered by AI developed by degens.
Due to the rapid growth of projects in this field, it will be launched as a meme coin. The combined market capitalization of meme coins is over $45 billion and is expected to grow even more in the coming months and years.
iDEGEN as a tool evolves through interactions on X. According to the development team, users feed data into the tool through tweets, tags, and comments. iDEGEN absorbs the submission and adds it to its knowledge base. That's how you learn.
Additionally, iDEGEN posts to X every 60 minutes and allows you to generate and post memes. The team noted that all posts on iDEGEN are driven by AI and what it learns from the community, with no human intervention.
iDEGEN pre-market auction reaches $2 million
iDEGEN is currently conducting a pre-sale of its native token $IDGN to fund its products and services. According to it, Official websiteiDEGEN has raised more than $2 million in about a week since the pre-market auction began.
The team says pre-market auctions leverage unconventional methods to attract more investors. iDEGEN's pre-sale price is adjusted every 5 minutes based on market activity. If an investor buys $IDGN tokens within 5 minutes, the price will remain stable for the next period. However, if consecutive purchases occur, the price of $IDGN will increase by 5%. Finally, if no one buys the token within 5 minutes, the price will drop by 5%.
The pre-market auction will continue until January 1, 2025, before the tokens are listed on crypto exchanges.
Should you invest in the iDEGEN project?
Idegen This is an interesting project that combines AI and meme coins. This could become one of the major meme coin projects on the Solana blockchain.
According to the team, $IDGN posts real-time pre-market listing prices on its website, allowing investors to accurately track the progress of the token ahead of its launch on trading platforms.
Investing in iDEGEN during the pre-sale can be a great opportunity for investors to purchase the token at a discount before it is listed on major crypto exchanges.
