The TNSR management token, which has an initial price of $1.19, is being airdropped to users who have engaged with the NFT Tensor platform in the last several months.
The NFT Tensor exchange’s parent company, Tensor Foundation, formally unveiled the TNSR governance token last night.
Concurrently, the project declared that users who had engaged with the site will get an airdrop of 125 million tokens, or 12.5% of the entire supply. The airdrop claim deadline is October 5, 2024, or 180 days from now.
Additionally, yesterday night, TNSR was added to several exchanges’ listing roadmaps, including OKX and Binance.
Less than an hour later, TNSR shot up to $2.23 from its beginning price of about $1.19, and it is currently transferred for $1.7.
The Tensor Foundation has announced that holders of TNSR will get rewards for trading on Tensor protocols and will be able to vote on proposals about the NFT marketplace. Users who list NFT on the exchange are eligible for a 25% fee reduction.
Remarkably, the 10,000 NFTs that were collected for the Tensorian project—which had a baseline price of 18 SOL, or around $3,200—were less than 50% of what was collected that day.
Many Tensorian holders now believe that the TNSR airdrop is unjust, according to X. Co-founder of Resonance Lab Mondoggg writes:
”Not one to complain about an airdrop, I know that [the Tensor team] worked hard, but why did you give a base of 420 tokens to people with a single tx and only ~1,100 tokens for a staked tensorian? Feels like we got super diluted and you hurt your biggest supporters.”
Using on-chain statistics from Flipside, users have overtaken Magic Eden since the end of April 2023 by trading more than $2.1 billion on Tensor in the last 90 days, or more than 70% of the entire NFT volume on Solana.
SEC postpones making a judgment on Bitwise and Grayscale Bitcoin ETF choices.
The Bitwise and Grayscale planned options trading on spot Bitcoin ETFs on the New York Stock Exchange is affected by the April 8 postponement decision.
The New York Stock Exchange’s application to provide options trading on spot Bitcoin (BTC) ETFs has been postponed by the US securities regulator.
The Securities and Exchange Commission’s reluctance will affect options trading on the Bitwise Bitcoin ETF (BITB), the Grayscale Bitcoin Trust (GBTC), and any other trust that owns Bitcoin on the NYSE, according to the filing dated April 8.
The securities regulator stated that it is appropriate for the Commission to set a longer timeframe for taking action on the proposed rule change, in order to allow sufficient time for consideration.
May 29 is the next date by which the SEC must decide whether to accept, reject, or postpone the proposed rule change for the NYSE.
When Nasdaq requested options trading on BlackRock’s iShares Bitcoin Trust (IBIT) last month, the securities regulator came to the same conclusion.
Derivative instruments called options provide traders leverage and enable them to place directional bets on the market.
A trader might pay a premium, purchase a “call option,” and commit to purchasing 1 BTC at the current price in a month with a smaller down payment than would be required to purchase 1 BTC if they believed the price of Bitcoin would climb.
The trader can take advantage of the rising price of Bitcoin over the month, purchase it at a discount, and maybe sell it for a profit. They would probably just let the contract expire and lose the premium money if it sank.
Michael Sonnenshein, the CEO of Grayscale, is one of two individuals that wrote to the SEC asking for the rule modification to be allowed.
Sonnenshein stated in a letter dated February 28 that since the SEC has already approved Bitcoin futures ETFs and spot Bitcoin ETFs on the NYSE, there is no reason to restrict trading options on the spot.
“The natural next step is the approval of options on spot Bitcoin ETPs.”
Additionally, Sonnenshein stated in a Feb. 5 X post that the introduction of options for spot Bitcoin ETFs will “contribute to a robust and healthy market.”
Nine days after the SEC authorized spot Bitcoin ETFs on multiple stock exchanges, on January 19, Nasdaq and Cboe submitted their own proposals. On January 12, the NYSE filed a 19b-4 form proposing options trading on Bitcoin ETFs.
What will come next for Shiba Inu as SHIB burn soars to 1300%?
Shiba Inu’s price increased 6% today as it recovered a noticeable upward momentum. This coincides with a 1300% increase in the SHIB burn rate, which is fueling the token’s market confidence.
Shiba Inu (SHIB), the self-declared Dogecoin (DOGE) killer, reported a sharp increase in price over the last day, coinciding with a massive 1300% increase in the SHIB burn rate. These events constitute a major development. This incident attracted a lot of interest from investors because the price of the dog-based meme coin recently had notable corrections, falling as low as $0.000024 in the previous month. But now, as the token’s price resumes its upward trend and approaches the $0.00003 threshold, Shiba Inu seems to have created positive waves in the worldwide cryptocurrency market.
Shiba Inu burn sharply during market upswing
Shibburn released statistics showing a startling 1344.14% increase in burn rate over the previous day, with 135.45 million SHIB burned. With so many massive burning diaries impacting on Shiba Inu’s supply, the token’s market dynamics are further buffered as a result.
Meanwhile, investors have been on edge due to the token’s extremely unpredictable movement over the previous few days, despite today’s huge pump. Nevertheless, SHIB selected positive waves throughout the cryptocurrency ecosystem today, with the meme coin’s on-chain analytics suggesting a robust market rise for the token as of press time.
Shiba Inu’s 24-hour trading volume increased 12.63% to $668.27 million, while the company’s market valuation saw a 2.28% increase to $16.81 billion. Notwithstanding recent price fluctuations and corrections, this generated a great deal of market optimism for the meme currency.
Shiba Inu price soars
The Shiba Inu token is presently trading around $0.00002855. The massive increase in the burn rate that was previously noted is one of several bullish reasons that are largely correlated with the token’s price explosion.
Intriguingly, research data showed that although derivative traffic increased by 10.26%, SHIB’s open interest increased by 4.93%. This indicates greater market activity and investor interest in the asset, further supporting the robust upward trend in the Shiba Inu market.
All things considered, this suggests that Shiba Inu has a bright future in the larger cryptocurrency market. In the meanwhile, SHIB was just published on the platform of Nexo, a well-known global cryptocurrency exchange, which increases the number of possible reasons why the price may have seen a significant 6% pump.
Analysis indicates that Shiba Inu’s critical resistance at $0.000029 is further emphasized. If the meme coin keeps seeing the burning of such enormous sums of coins, together with growing purchasing pressure in the market, SHIB may be able to surpass this milestone. This might open the door to even bigger profits, as investors closely watch the token for any changes in price in the future as optimism in altcoins grows due to the impending halving of Bitcoin.
Read more: Ethereum (ETH) Supply falls to a record as newcomers pour in