Blockchain

Injective Protocol’s INJ token has just hit a new all-time high of $27.02. However, it appears that the market is currently in a phase of rest and consolidation, with investors cautiously hopeful yet reluctant to drive prices much higher at the moment.

The overall trading activity has decreased from its recent peak, leading to a reduction in market volatility. Despite this, the price of INJ has experienced a 12% increase in the last day, currently trading at $25.

Injective Inks 50% Price Rally

One of the things to consider as the token searches for more growth is what has propelled it to a record high. So, is there a chance that this rally will last, or will bears ruin the bulls’ Yuletide celebration?

Injective’s native token has experienced a price explosion of over 50% in the previous 30 days, and the steady climb since the lows hit in December 2022 has featured a parabolic rise of over 1,500%. Positive news about the ecosystem and the general bullish mood have driven INJ higher in recent weeks.

Just the last day saw a 40% spike in INJ’s trading volume to $508 million. The price of INJ has fluctuated by around 15% during the last day, indicating high intraday volatility as well. Traders need to get ready for further volatility in the near future.

Now that Injective has a new ATH set, it is in unexplored terrain and might rise swiftly.

In the event of a decline, the nearest area of support is at $24, and then $20, which corresponds to the Fibonacci 0.382 retracement level. Just below that, at $16 and $15, respectively, you can find support at the 0.5 and 0.618 Fib levels. If INJ’s rally hits a wall, the stock might retrace to these levels before continuing its ascent.

INJ’s $65K Burn Boosts Weekly Surge

Injective’s weekly token burn has been one of the major triggers for the previous few days. The most recent of these saw the burning of over $65,000 worth of INJ, eliminating them from circulation forever.

Injective saw a notable increase in the total amount of INJ staked during the burn auction. There have been almost $1 billion worth of tokens staked thus far, based on on-chain data.

A bullish continuation might see buyers target prices above $30. A bearish turn in tandem with a wider market decline may signal a possible decline to $20–$18 range support.

INJ Positive Prediction 

Meanwhile, the current Coincodex Injective price prediction indicates a $27.50 price increase this week. Additionally, according to its technical indicators, the present mood is bullish, and the Fear & Greed Index is currently reading 67 (Greed).

The predicted annual low price for Injective in 2024 is $ 25.13, based on how the price has changed in the past and the BTC halving cycles. Injective, on the other hand, could cost as much as $35.49 next year.

Featured image from Warne Scope Mounts

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AVAX price rallied over 50% and traded above the $40 level. Avalanche is now correcting gains, but the bulls might remain active near the $32 support zone.

AVAX price gained pace above the $30 and $40 levels against the US dollar.
The price is trading above $30 and the 100 simple moving average (4 hours).
There is a key bullish trend line forming with support near $35.00 on the 4-hour chart of the AVAX/USD pair (data source from Kraken).
The pair could continue to rise if it stays above the $35 and $30 support levels.

AVAX Price Corrects Lower

In the past few days, Avalanche’s AVAX saw a strong increase above the $25 resistance zone. It gained over 50% and broke many hurdles near $30. It even cleared the $40 level before the bears appeared.

A new multi-month high was formed near $43.06 before the price started a downside correction, like Bitcoin and Ethereum. There was a 15% drop and the price traded below the $38 level. There was a move below the 23.6% Fib retracement level of the upward move from the $21.24 swing low to the $43.06 high.

AVAX price is still trading above $30 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $35.00 on the 4-hour chart of the AVAX/USD.

Source: AVAXUSD on TradingView.com

On the upside, an immediate resistance is near the $38.00 zone. The next major resistance is forming near the $40.00 zone. If there is an upside break above the $38.00 and $40.00 levels, the price could surge over 10%. In the stated case, the price could rise steadily toward the $45 level.

Dips Limited in Avalanche?

If AVAX price fails to continue higher above the $38.00 or $40.00 levels, it could continue to move down. Immediate support on the downside is near the trend line at $35.

The main support is near the $32.00 zone or the 50% Fib retracement level of the upward move from the $21.24 swing low to the $43.06 high. A downside break below the $32.00 level could open the doors for a major decline towards $18.80. The next major support is near the $26.50 level and the 100 simple moving average (4 hours)

Technical Indicators

4 hours MACD – The MACD for AVAX/USD is gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for AVAX/USD is now below the 50 level.

Major Support Levels – $35.00 and $32.00.

Major Resistance Levels – $38.00, $40.00, and $45.00.

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Ethereum price is moving lower below the $2,250 support zone. ETH is now at risk of more downsides below the $2,120 support zone.

Ethereum struggled to start a fresh increase above the $2,250 resistance.
The price is trading below $2,250 and the 100-hourly Simple Moving Average.
There is a key declining channel forming with resistance near $2,225 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move down if it declines below the $2,120 support zone.

Ethereum Price Takes Hit

Ethereum price attempted a fresh increase above the $2,120 and $2,150 levels. ETH even climbed above the $2,200 level, but the bears were active near the $2,250 level. A high was formed near $2,252 and the price started a fresh decline, like Bitcoin.

There was a move below the $2,200 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $1,980 swing low to the $2,252 high.

Ethereum is now trading below $2,250 and the 100-hourly Simple Moving Average. There is also a key declining channel forming with resistance near $2,225 on the hourly chart of ETH/USD. If there is a fresh increase, the pair might face resistance near the $2,200 level.

Source: ETHUSD on TradingView.com

The next key resistance is near the $2,225 level or the channel trend line. The main resistance is still near $2,250. A clear move above the $2,250 zone could send the price toward the $2,300 level. The next resistance sits at $2,350. Any more gains could start a wave toward the $2,500 level.

More Losses in ETH?

If Ethereum fails to clear the $2,225 resistance, it could continue to move down. Initial support on the downside is near the $2,120 level or the 50% Fib retracement level of the upward move from the $1,980 swing low to the $2,252 high.

The next key support is $2,045. The main support is now near $2,000. A downside break below $2,000 might start another major decline. In the stated case, Ether could revisit the $1,880 support. Any more losses might call for a test of the $1,820 support zone in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $2,120

Major Resistance Level – $2,225

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In decentralized finance (DeFi) and trading, Uniswap has long reigned as a dominant force. However, a recent analysis by Lark Davis, a Bitcoin (BTC) investor, seems to suggest Trader Joe, a decentralized exchange (DEX) on Avalanche–a highly scalable blockchain and Ethereum’s competitor, could eventually emerge as a formidable competitor, even overtaking Uniswap.

Is Trader Joe Undervalued Relative To Uniswap?

In a post on X on December 12, Davis noted a discrepancy in the relative valuation between JOE and UNI, which serve as governance tokens of Uniswap and Trader Joe. Specifically, the investors noted that Trader Joe’s handles around $300 million daily trading volume on Avalanche alone.

On the other hand, Uniswap processes approximately $1.6 billion in daily volume across the Ethereum mainnet and Arbitrum, the largest layer-2 platform by total value locked (TVL) by Ethereum.

Davis further noted that despite this “small” difference in trading volume, Trader Joe’s has a market capitalization of only $238 million. Meanwhile, Uniswap has a market cap of $3.6 billion, according to CoinMarketCap data. 

Even with relatively narrow average trading volume, the huge difference in market capitalization suggests that JOE is significantly undervalued relative to UNI. Accordingly, this gap will likely be narrowed in the future, with JOE appreciating versus UNI, possibly benefiting holders.

JOE Yields Versus UNI’s Governance: Which Token Has An Edge?

Davis also pointed out JOE’s potential, saying the token rewards holders with USDC yields. This is different from UNI, where holders can vote on proposals and nothing else. In the investor’s preview, besides the undervaluation, this feature could further enhance JOE’s appeal, even contributing to its upside potential. 

As the crypto market recovers, Avalanche might also present additional advantages to traders and, therefore, Trader Joe. The modern blockchain is scalable and has relatively low fees regardless of network activity. With crypto prices expanding, Ethereum gas fees have been rising in tandem, discouraging mainnet transfers. This has rerouted activity to layer-2s like Arbitrum and competing platforms, including Avalanche. 

When writing on December 12, DeFiLlama data shows that Trader Joe has a TVL of $149 million, of which most assets are tied to Avalanche. Only $1 million is on Ethereum. JOE has been on an uptrend, rising 170% from October 2023 lows. The token is cooling off, looking at price action on the daily chart.

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Cryptocurrency analyst Miles Deutscher has provided insights into potential altcoin opportunities as the crypto market experiences a sharp correction and many altcoins consolidate after recent gains. Deutscher’s analysis focuses on several altcoins that he believes could be poised for significant upside movement.

BTC, AVAX, And INJ Stand Out Amid Market Correction

Bitcoin (BTC), although not an altcoin but the largest cryptocurrency on the market, is one of the coins Deutscher mentions, noting that it is currently retesting the break of an ascending channel on the daily chart. 

Deutscher suggests that the recent market correction was necessary to flush out over-leveraged positions and sees the price action as reminiscent of previous bull market environments.

Another altcoin that Deutscher highlights is Avalanche (AVAX), which he describes as one of the clear altcoin leaders. Despite the market downturn, AVAX quickly recovered from the dip, and Deutscher expects further continuation. 

However, the analyst points out that the risk-reward ratio for AVAX is diminishing, and suggests considering other rotation plays that have not experienced a significant price appreciation.

Injective Protocol (INJ) is another standout performer mentioned by Deutscher. Despite the broader altcoin market downturn, INJ has remained in the green, showing a 17% increase over the past 24 hours. Deutscher praises INJ’s performance over the past few weeks and suggests accumulating on major pullbacks.

Deutscher also draws attention to Celestia (TIA), a coin that has displayed resilience during the recent market correction. The analyst notes the strong “Solestia” narrative surrounding TIA, with several significant projects set to launch soon, indicating potential insider interest. 

Immutable X (IMX) is highlighted as a leading altcoin in the gaming sector. Deutscher mentions its push towards the next resistance level at $2.60 and emphasizes its strong fundamentals, with over 400 games launching on the platform.

PrimeDAO (PRIME) is one of Deutscher’s top gaming picks. The popularity of their game, Parallel, is growing, and the upcoming Coinbase listing for retail traders is viewed as a significant catalyst. Deutscher suggests that PRIME is currently in price discovery mode, and further upward movement would not be surprising. 

Undervalued Altcoins To Watch

Moving on to altcoins that have not experienced as significant price appreciation, Deutscher mentions Sei Network (SEI) and Sui(SUI). Deutscher suggests that these two altcoins could potentially have their time to shine in the current market conditions.

Near Protocol (NEAR) is another coin that Deutscher believes could have a breakout moment. The analyst notes the lack of significant resistance on the way to $5, indicating the potential for substantial price movement.

Deutscher also discusses Arbitrum (ARB), suggesting that people are considering it as a potential rotation play. Deutscher speculates that the launch of a meme coin and the upcoming Coinbase Futures listing of Arbitrum could attract liquidity and initiate a mini Layer 2 (L2) season.

Within the Solana ecosystem, Deutscher highlights the recent airdrops of Pyth Network (PYTH), Juggernaut (JTO), and Jupiter (JUP). Deutscher mentions the buzz surrounding airdrop farming and suggests that opportunities may still exist within the ecosystem.

Deutscher concludes by mentioning Frax Share (FXS), noting the upcoming halving, the launch of Fraxchain in Q1 2024, and the potential release of frxETH V2. Deutscher believes that FXS is currently undervalued and hints at the possibility of a future airdrop.

Featured image from Shutterstock, chart from TradingView.com 

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Bitcoin price struggled to start a fresh increase above the $42,300 resistance zone. BTC is declining and is now at a risk of more downsides below $40,000.

Bitcoin failed to start a fresh increase above the $42,000 resistance zone.
The price is trading below $42,500 and the 100 hourly Simple moving average.
There is a key bearish trend line forming with resistance near $41,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could extend losses if there is a close below the $40,000 support zone.

Bitcoin Price Turns Red

Bitcoin price started a fresh increase from the $40,000 support zone. BTC climbed above the $41,500 resistance zone, but it failed to continue higher.

The price failed to gain strength above the $42,250 and $42,300 resistance levels. A high was formed near $42,300 and the price started a fresh decline. There was a drop below the $42,000 and $41,500 levels. A low is formed near $40,606 and the price is now consolidating losses.

Bitcoin is also trading below $42,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $41,200 level. Besides, there is a key bearish trend line forming with resistance near $41,250 on the hourly chart of the BTC/USD pair.

The first major resistance is forming near $41,450. It is near the 50% Fib retracement level of the downward move from the $42,300 swing high to the $40,606 low.

Source: BTCUSD on TradingView.com

The next key resistance might be the 76.4% Fib retracement level of the downward move from the $42,300 swing high to the $40,606 low at $41,900. A close above the $41,900 resistance might start a steady increase. The next key resistance could be near $42,300, above which BTC could rise toward the $43,000 level. A clear move above the $43,000 level could set the pace for a test of $44,000.

More Losses In BTC?

If Bitcoin fails to rise above the $41,250 resistance zone, it could start another decline. Immediate support on the downside is near the $40,600 level.

The next major support is near $40,000, below which the price might test the $39,500 zone. If there is a move below $39,500, there is a risk of more losses. In the stated case, the price could drop toward the $38,500 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $40,600, followed by $40,000.

Major Resistance Levels – $41,250, $41,900, and $42,300.

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The crypto market, especially Bitcoin (BTC), has recently declined. Amid these fluctuations, the flagship cryptocurrency has been intensely scrutinized.

Despite its decline from the recent peak of $44,000, a crypto analyst urged the community not to “succumb to panic.” The current market situation reflects a typical correction phase rather than a long-term bearish trend.

According to Ali Charts, a prominent crypto analyst, Bitcoin has established a “robust” support zone between $37,150 and $38,360. This critical range is bolstered by the activity of approximately 1.52 million addresses that collectively purchased roughly 534,000 BTC at that price point, as indicated by Ali.

The analyst suggests that the significant accumulation forms a “strong” foundation, potentially preventing further declines in Bitcoin’s value.

Bitcoin’s Resistance And The Road Ahead

Despite the recent market downturn, Bitcoin’s potential for recovery and continued growth remains a subject of interest. Ali has also identified two key resistance levels at $43,850 and $46,400 that could challenge Bitcoin’s upward momentum.

These points represent significant thresholds where selling pressure may intensify, potentially hindering Bitcoin’s ability to reclaim its recent highs.

In case of a deeper correction, #Bitcoin finds solid support between $37,150 and $38,360. This zone is backed by 1.52 million addresses holding 534,000 $BTC.

Also, watch out for two resistance walls that could keep the #BTC uptrend at bay: one at $43,850 and another at $46,400. pic.twitter.com/NGm1XpMOLf

— Ali (@ali_charts) December 11, 2023

Meanwhile, the past 24 hours have seen Bitcoin’s price dip by 0.3% with a price below $42,000, continuing its retreat from the $44,000 mark. This reduction in value is mirrored in the crypto’s trading volume, which has fallen from $37 billion to $21 billion. This decline indicates a decreased trading activity, suggesting a cooling-off period following the recent market rally.

The Positive Side Of The Bitcoin Pullback

Amid concerns over Bitcoin’s price fluctuations, experts like William Clemente, co-founder of Reflexivity Research, offer a different perspective. Clemente emphasizes that the current pullback, potentially bringing Bitcoin’s price to around $40,000, is not necessarily a negative development.

Clemente argues that this correction is essential for “shaking out weak hands” and reducing leverage in the market, ultimately laying a more solid foundation for future growth.

The Co-founder of Reflexivity Research further noted that “Bitcoin’s volatility is a feature, not a bug.”

BTC just ~doubled in 2 months with no pull backs, a correction is not that surprising.

Corrections shake out “weak hands” and leverage, allowing for a stronger foundation for eventual moves higher.

Bitcoin’s volatility is a feature, not a bug.

Chill with the leverage https://t.co/BdvvS8KDZU

— Will (@WClementeIII) December 11, 2023

Featured image from iStock, Chart from TradingView

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In a striking turn of events, the Internal Revenue Service (IRS) in the United States has presented a staggering tax bill of $24 billion against the bankrupt cryptocurrency exchange FTX. 

FTX Challenges IRS’s $24 Billion Tax Bill

According to court filings and FTX’s response to the IRS’s claims, several key arguments challenge the basis of the tax bill. Firstly, FTX highlights that its operations spanned three years, never distributing dividends or earnings. 

Secondly, the exchange’s defense attorneys claim that the company incurred substantial losses rather than generating income that could support the IRS’s “exorbitant” tax claim. 

Thirdly, the lawyers argue that FTX is currently in liquidation and is not engaged in any ongoing business activities apart from those required for the liquidation process. 

Finally, the company emphasizes that the recovery sought by the IRS would ultimately come at the expense of FTX’s victims, as the funds would be redirected away from their rightful recipients. 

As the court hearing approaches, FTX asserts that proceeding with a court-supervised estimation process would demonstrate the company’s significant losses during its operational period, rendering the IRS’s claim “baseless.” 

FTX emphasizes that any forced payment would harm the victims of the FTX fraud, many of whom are already grappling with “profound losses.”

FTX’s administrators have managed to recover approximately $7 billion in assets, including $3.4 billion in cryptocurrencies. These figures underscore the complex financial landscape surrounding the IRS’s claim against FTX.

As the courtroom showdown ensues, the case outcome will undoubtedly have significant implications for the future of crypto taxation and the recovery prospects of FTX’s creditors. 

FTT’s Bullish Trend Holds Strong

As the cryptocurrency market experiences a significant correction following a bullish surge led by Bitcoin (BTC), FTX’s native token, FTT, has seen a decline of over 5% in the past 24 hours, adding to the company’s legal concerns.

After a three-month accumulation phase that kept FTT trading in a range between $0.9 and $1.2 from September to the beginning of November, the token witnessed an impressive surge in the last month, reaching its highest price of the year at $6.042, a level not seen since November 2022.

However, the token has retraced to its current price mark of $4.8, with the next support level at $4.45 in case of further downward movement.

On a positive note, FTT is trading above key moving averages, including the 200-day and 50-day MA, which provide support and indicate the potential for further upward price action.

Furthermore, since the beginning of November, FTT has consistently recorded higher highs and higher lows, forming an uptrend pattern. This trend has been observed three times, with the token experiencing an uptrend, followed by a pullback for a support test, and then a continuation to reach new highs.

Assuming this trend continues and the legal developments do not have a significant impact on the price of the token, FTT may be poised for a significant rise in the coming months, given the remarkable uptrend pattern seen on the daily chart.

Featured image from Shutterstock, chart from TradingView.com 

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The creation of a crypto token marks the beginning of an exciting venture in the digital currency space. This comprehensive guide is designed to walk you through the journey of how to create a crypto token, from the initial concept to its final launch. Whether you are wondering how to create a DeFi token or how to create a meme token, or another type of digital asset, we cover all the essentials you need to know.

We’ll delve into the specifics of each developmental phase, address how much does it cost to create a crypto token, legal aspects, and even provide insights on how to create a crypto token for free. With a focus on clarity and expert guidance, this guide is your doorway to successfully navigating the intricate process of crypto token creation.

Basics: How To Create A Crypto Token

Creating a crypto token is an intricate process that combines technical skills with a deep understanding of the blockchain ecosystem. This task requires not just programming prowess but also a strategic approach to ensure your token aligns with market needs and regulatory standards.

The concept of a crypto token encompasses a digital asset built on a blockchain. Unlike cryptocurrencies like Bitcoin or Ethereum, which are native to their respective blockchains, tokens are created using the existing blockchain’s infrastructure. They represent various assets or utilities, from digital art and virtual real estate to governance rights within a decentralized network.

Remarkably, the history of crypto tokens is marked by significant events, notably the ICO (Initial Coin Offering) boom around 2017. This period witnessed a surge in token creation, as startups and projects used ICOs to raise capital by issuing tokens. While this led to groundbreaking innovations, it also attracted scrutiny due to the prevalence of scams and lack of regulation.

A recent success story in the crypto token space is PEPE coin, launched on April 16, 2023. It quickly gained popularity, notably among memecoin enthusiasts. PEPE coin, developed as a tribute to the meme character Pepe the Frog, reached a market cap of $1.61 billion in less than three weeks after its launch.

Step-by-Guide: How To Create A Token

Creating a crypto token is a complex process, requiring a blend of technical expertise and strategic planning. Here’s a more detailed guide on “how to create a crypto token”:

#1 Specify The Purpose Of Your Token

The purpose of your token is foundational. Are you creating a utility token to facilitate transactions within a specific ecosystem, a security token to represent digital shares of an asset, or a governance token to allow holder participation in decision-making? Understanding and clearly defining the utility, target audience, and problem your token addresses is critical for its relevance and success.

#2 Choose A Blockchain

Your choice of blockchain affects the token’s functionality, scalability, and security. Consider Ethereum for its well-established infrastructure and strong support for ERC-20 tokens. Other blockchains like Binance Smart Chain or Cardano offer different advantages like lower transaction fees or enhanced scalability. Assess the community support, development tools, and consensus mechanisms of each blockchain to find the best fit for your token.

#3 Create A Whitepaper

A whitepaper is crucial for gaining trust and interest. It should comprehensively detail your token’s purpose, technology, governance model, and economic mechanics. Include technical details, projected use cases, and a clear roadmap. A good whitepaper is transparent about the token’s features, risks, and long-term vision, helping to establish credibility among potential investors and users.

#4 Set Up A Node

Setting up a node on the Ethereum network is a critical step for anyone looking to create a token. This process is essential because it ensures direct and reliable access to the blockchain. By operating a node, creators maintain a personal copy of the entire Ethereum ledger, allowing for real-time tracking of transactions and network activity. This direct connection to the Ethereum network not only enhances security but also provides greater control over the transactions associated with the token.

#5 Develop Smart Contracts And Test Them

Smart contracts are the core of your token’s functionality on the blockchain. They must be coded carefully to manage the token’s operations securely and efficiently. Post-development, testing these contracts on a testnet is vital to identify and fix vulnerabilities, ensuring reliability and security. This stage may involve multiple iterations to refine the contract’s functionality.

#6 Deploy On Mainnet

Deploying your token on the mainnet brings it to life. This step requires precision and often a fee, known as gas in Ethereum. Ensure your smart contracts are thoroughly tested before this step, as deploying on the mainnet makes the contracts immutable and any errors irreversible.

#7 Distribute And Market

Develop a strategy for distributing your token. This might involve initial offerings like ICOs, airdrops to potential users, or partnerships with exchanges for listing. Marketing is key to building awareness and credibility. Utilize social media, community engagement, and partnerships to spread the word about your token and its use cases.

#8 Maintain And Update

Post-launch, it’s essential to maintain your token’s ecosystem. This includes monitoring the token’s performance, updating smart contracts as needed, and responding to community feedback. Regular updates and improvements will help maintain the token’s relevance and value in a rapidly evolving market.

Coding Necessary? How To Create A Crypto Token

Creating a crypto token, especially on Ethereum, involves a combination of coding skills and the use of specific tools and frameworks. The process can vary from straightforward to complex depending on the approach and tools used. Here are some aspects on how to create a crypto token on Ethereum:

Solidity: This is a programming language designed for developing smart contracts on the Ethereum blockchain. It shares similarities with JavaScript and C++, but includes additional features and syntax tailored for Ethereum smart contract development​​.

Smart Contract Features: A basic token contract in Solidity typically includes features like token name, symbol, decimal places, total supply, a mapping of addresses to their token balance, and functions for token transfer​​.
Security Measures: Implementing security measures is crucial in smart contract development to prevent unauthorized access or theft of tokens. Best practices include using the latest version of Solidity, applying open-source libraries like OpenZeppelin for enhanced security features, thorough code testing, and code review​.

Development Tools And Frameworks: How To Create A Token

Moralis: A platform that simplifies the creation of dApps and ERC-20 tokens, requiring minimal development skills. Moralis provides tools for creating Ethereum tokens in a few steps, beneficial for those familiar with the basics of Solidity and smart contracts​​.

Node Providers: Access to an Ethereum node is necessary for deploying tokens on the network. Moralis offers Speedy Nodes, which are fast and reliable nodes supporting multiple networks including Ethereum​​.
Brownie: A Python-based development and testing framework for Ethereum. It’s an alternative to more traditional frameworks like Truffle Suite and Hardhat, and it simplifies the process of token development and deployment​.

No-Code Token Creation

While traditional token creation involves substantial coding, several no-code or low-code platforms have emerged. These platforms offer a user-friendly interface for creating tokens without writing code from scratch. However, they typically offer less customization and control than a fully coded solution.

TokenFi: This platform has launched a Token Launcher on testnet on November 23, 2023. It allows users to create tokens on the Ethereum Goerli chain without any coding. It’s accessible via desktop or mobile web browsers and integrated into platforms like Telegram and Discord, making token creation accessible to a wider audience without technical expertise​.

SmartContracts.Tools’ Token Generator: This tool simplifies token creation on Ethereum and Binance Smart Chain, allowing users to tokenize ideas without coding.

Learning Resources On How To Create A Crypto Token

There are numerous tutorials and guides available online for learning Solidity and smart contract development. Ethereum.org, for example, offers a curated list of community tutorials covering various aspects of Ethereum development including token creation using Solidity​.

In summary, while traditional token creation on Ethereum requires coding skills, particularly in Solidity, there are tools and platforms like Moralis and TokenFi that simplify or even eliminate the need for coding.

However, for complex and unique token projects, proficiency in Solidity and a deep understanding of smart contract development remain crucial. Security is a paramount consideration in this process, and leveraging frameworks like Brownie and using libraries like OpenZeppelin can enhance the security and functionality of the tokens created.

Cost Analysis: How Much Does It Cost To Create A Crypto Token?

The cost of creating a crypto token can vary widely depending on several factors, including the blockchain platform used, the complexity of the token’s functionality, and whether you’re hiring developers or using no-code platforms. Here’s a breakdown of the key cost components:

1. Blockchain Platform Fees

Gas Fees: On platforms like Ethereum, you need to pay gas fees for transactions, including deploying smart contracts. These fees can fluctuate based on network congestion.

Token Standards: Different token standards (e.g., ERC-20, ERC-721) may have varying deployment costs due to their complexity.

2. Development Costs

Hiring Developers: If you’re not coding the token yourself, hiring experienced blockchain developers can be a significant expense. Rates vary widely based on expertise and location.

DIY Approach: If you have the coding skills, you can save on development costs. However, consider the opportunity cost of your time.

3. No-Code Platform Fees

Subscription or Service Fees: Some no-code platforms for token creation might charge a subscription or a one-time fee. These are generally more cost-effective compared to hiring developers.

Example Platforms: Tools like SmartContracts.tools offer user-friendly interfaces for token creation, but they come at a price.

4. Legal and Compliance Costs

Regulatory Compliance: Depending on the token’s nature (utility vs. security), legal fees for ensuring compliance with relevant regulations can be substantial.

Jurisdiction: Costs also vary based on the legal jurisdiction and the complexity of the legal landscape related to cryptocurrencies.

5. Marketing and Promotion

Marketing Campaigns: To gain traction, budgeting for marketing and community engagement is vital. This can include social media advertising, community management, and PR activities.

Exchange Listings: Getting your token listed on exchanges might incur fees, which vary from exchange to exchange.

6. Maintenance and Updates

Ongoing Development: Post-launch updates and maintenance, especially for complex tokens with evolving features, can incur ongoing costs.

Security Audits: Regular security audits are critical for maintaining the token’s integrity and user trust.
The cost of creating a crypto token is highly variable and can range from relatively low (using no-code platforms) to quite high (custom development with ongoing maintenance and legal compliance). It’s essential to thoroughly assess your project’s specific needs and budget accordingly, keeping in mind both upfront and ongoing expenses.

How To Create A DeFi Token?

Creating a DeFi (Decentralized Finance) token involves additional considerations compared to other types of crypto tokens. DeFi tokens are typically used within specific financial applications on the blockchain, offering functionalities such as lending, borrowing, yield farming, or liquidity provision. Here’s how the creation of a DeFi token differs:

1. Define The Financial Utility

Unique Functionality: Unlike standard tokens that might simply represent value or ownership, DeFi tokens often have complex financial functionalities embedded within them. This could include governance rights, profit sharing, or mechanisms for staking and earning rewards.

Use Case Alignment: The token’s utility must align closely with the specific DeFi application it is intended for, whether it’s a lending platform, a decentralized exchange, or a yield farming protocol.

2. Advanced Smart Contract Development

Complex Logic: DeFi tokens require more sophisticated smart contracts with intricate logic to handle various financial operations. This might include integrating interest rate models, reward distribution algorithms, or liquidity pool mechanisms.

Security Emphasis: Given the financial nature and the potential for substantial funds to be involved, DeFi tokens necessitate rigorous security measures, including thorough smart contract audits by reputable firms.

3. Integration With DeFi Protocols

Protocol Compatibility: DeFi tokens need to be compatible with existing DeFi protocols and platforms. This may involve adhering to specific standards beyond the basic ERC-20, such as ERC-721 for unique tokens or newer standards like ERC-1155.

Interoperability: DeFi tokens often benefit from being interoperable with multiple protocols and chains to maximize their utility within the broader DeFi ecosystem.

4. Governance And Decentralization

Governance Mechanisms: Many DeFi tokens come with built-in governance features, allowing token holders to vote on decisions affecting the protocol. This requires additional smart contract functionality.

Community Building: A strong and engaged community is crucial for the success of a DeFi token, more so than for other types of tokens. Community governance and active participation can be vital drivers of value and trust.

5. Regulatory Compliance And Legal Considerations

Financial Regulations: DeFi tokens might be subject to different regulatory scrutiny compared to other tokens, especially if they resemble financial instruments or involve yield generation. Legal guidance is critical to navigate this complex landscape.

Anti-Money Laundering (AML) And Know Your Customer (KYC): Depending on the token’s use case and jurisdiction, compliance with AML and KYC regulations may be necessary.

Creating a DeFi token is a more complex endeavor, requiring advanced smart contract capabilities, a deep understanding of financial mechanisms within the DeFi space, and a strong emphasis on security, governance, and regulatory compliance. This complexity often translates to higher development costs and the need for specialized expertise, both in technology and finance.

How To Create A Meme Token?

Creating a meme token, which is typically inspired by internet memes and often characterized by its virality and community-driven nature, differs from creating conventional crypto tokens in several ways.

Here’s an exploration of these differences:

1. Concept and Community Engagement

Pop Culture Inspiration: Unlike traditional tokens, meme tokens often originate from popular culture references or internet phenomena. Their appeal is heavily tied to the whimsy and humor they represent.

Community-Driven: The success of a meme token largely depends on the strength and engagement of its community. These tokens thrive on social media hype, influencer endorsements, and community activities.

2. Marketing And Virality

Marketing Strategy: While traditional tokens might focus on utility and technical aspects in their marketing, meme tokens rely heavily on virality and social media presence. Memes, humorous content, and engagement strategies are crucial.

Influencer Partnerships: Collaborations with influencers and prominent figures in the crypto space can significantly boost a meme token’s visibility and adoption.

3. Simplicity In Functionality

Basic Smart Contract Features: Meme tokens usually don’t require complex functionalities. Many are created as standard ERC-20 tokens on Ethereum or similar standards on other blockchains, with a primary focus on transferability and exchange listings.

Rapid Development And Deployment: Owing to their simplicity, meme tokens can be developed and launched quickly, often riding the wave of a trending topic or meme.

4. Tokenomics And Supply

High Supply And Low Price: Meme tokens often have a very high total supply, contributing to a low per-token price. This strategy creates a psychological appeal, as investors can own millions, billions, or even trillions of tokens for a small amount of capital.

Token Burns And Scarcity Tactics: Some meme tokens employ mechanisms like token burns to reduce supply over time, creating a deflationary model to drive up value.

Creating a meme token is more about capitalizing on cultural trends and building a strong, engaged community than about technical complexity or utility. The focus is on marketing, social media engagement, and riding the wave of virality. While they offer an interesting case study in the power of community in the crypto world, meme tokens also carry a higher risk due to their speculative nature and market volatility.

Bonus Tip: How To Create A Crypto Token For Free?

Creating a crypto token for free is a feasible option, especially if you’re looking to experiment or learn about the token creation process without financial commitment.

Consider using Ethereum’s testnets like Ropsten, Rinkeby, or Kovan, where deploying tokens does not require real gas costs. These testnets are designed for experimentation and are an ideal playground for beginners. Alternatively, blockchains with lower transaction fees than Ethereum’s mainnet, such as Solana, Cardano or Polygon, can be used to reduce costs.

Tools like Remix IDE, an open-source web tool for Ethereum, allow you to write, test, and deploy smart contracts in Solidity without any cost. Additionally, Truffle Suite and Ganache offer environments for testing Ethereum smart contracts locally, saving on gas fees and making the development process entirely free.

More Tools And Libraries

There are platforms like SmartContracts.tools that offer no-code solutions for creating tokens. These platforms typically have free tiers or options that enable basic token creation without incurring costs. TokenFi and similar platforms also provide interfaces for simple token creation on testnets or mainnets, allowing customization of token parameters without the need for coding skills or financial investment.

The OpenZeppelin library offers a collection of secure smart contract templates, including standard ERC-20 and ERC-721 contracts, which can be customized for your token at no cost. Additionally, GitHub repositories are a rich source of smart contract code shared by developers, which can serve as a starting point for your token.

For guidance and support, turning to forums like Ethereum Stack Exchange, Reddit, or Discord channels can be invaluable. These platforms host a community of experienced developers who often offer advice and help without charge.

How To Create A Crypto Token: Legal Considerations

Creating a crypto token involves navigating a complex legal landscape, which is as crucial as the technical development itself. Ensuring legal compliance not only protects the creators but also the users of the token. Here’s an overview of the legal considerations involved:

Regulatory Classification and Compliance

Understanding how your token is classified legally is fundamental. Tokens can be broadly categorized as utility tokens, security tokens, or a different type, each with its own regulatory implications.

Security tokens, for example, are subject to stringent securities regulations as they represent an investment and may be tied to the profitability of a project. Compliance with regulatory bodies like the Securities and Exchange Commission (SEC) in the U.S. or equivalent authorities in other jurisdictions is crucial.

Notably, the legal landscape for crypto tokens varies significantly across different jurisdictions. It’s vital to be well-versed with the laws in the regions where you plan to issue and trade your token. For global availability, this may require navigating and complying with a complex web of international regulations.

Given the complexities of blockchain and crypto regulation, which are continuously evolving, seeking advice from legal experts who specialize in blockchain technology is highly recommended. These professionals can guide you through the nuances of compliance, intellectual property rights, and more.

Smart Contract Review And Token Sales

Beyond technical audits for security and efficiency, a legal review of your smart contracts can ensure they meet regulatory requirements and avoid legal risks. This is particularly important for tokens with complex functionalities or those involved in financial transactions.

If raising funds through methods like Initial Coin Offerings (ICO), it’s important to understand the legal implications related to fundraising and securities laws. This includes how you advertise the sale, the information provided to potential investors, and the structure of the offering.

FAQ: How To Create A Crypto Token

How To Create A Crypto Token?

Creating a crypto token typically involves selecting a blockchain platform, defining the token’s purpose, writing and testing smart contracts, deploying the token on the blockchain, and planning for distribution and marketing. The process requires technical knowledge, particularly in blockchain technology and smart contract development.

How To Create A Token?

To create a token, start by defining its purpose and utility. Choose a blockchain platform that suits your needs, develop the token’s smart contract, test it thoroughly, and then deploy it on the chosen blockchain. Finally, focus on distribution strategies and marketing to build awareness.

How Much Does It Cost To Create A Crypto Token?

The cost varies based on factors like blockchain platform fees, development costs, legal and compliance expenses, marketing, and ongoing maintenance. Using no-code platforms can reduce costs, but custom development and ensuring legal compliance can be expensive.

How Much Does It Cost To Create A Token?

Creating a token can range from being relatively inexpensive using no-code platforms to quite costly if opting for custom development, especially when considering legal, marketing, and maintenance expenses.

How To Create A Crypto Token For Free?

You can create a crypto token for free by using testnets like Ethereum’s Ropsten for deployment, leveraging free development tools such as Remix IDE, and utilizing no-code token creation platforms. However, deploying on the mainnet and broader token management might incur costs.

How To Create A Cryptocurrency Token?

Creating a cryptocurrency token involves similar steps to any other crypto token: deciding on its purpose, choosing a blockchain, developing and testing the smart contract, and deploying it. Additionally, focus on ensuring the token’s liquidity and exchange listings.

How To Create A DeFi Token?

DeFi tokens require additional considerations like integrating complex financial functionalities, ensuring compatibility with DeFi protocols, and embedding governance mechanisms. They also require rigorous security measures due to their financial nature.

How To Create A Digital Token?

A digital token can be created by developing a smart contract that defines the token’s attributes and functionalities. It’s essential to choose the right blockchain platform and ensure the token’s utility aligns with its intended digital application.

How To Create A Meme Token?

Meme tokens are often created for their viral appeal and are heavily community-driven. They typically require basic smart contract functionalities and a strong focus on marketing and social media engagement to build a robust community.

How To Create A New Crypto Token?

To create a new crypto token, identify a unique purpose or utility that differentiates it from existing tokens. Follow the standard process of smart contract development, testing, and deployment, and ensure your token stands out through innovative features or use cases.

How To Create A New Token?

Creating a new token involves conceptualizing its unique selling point, developing the token on a suitable blockchain. Developers need to focus on aspects like security, legal compliance, and community building to ensure its successful adoption and use.

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A Dogecoin sell signal has appeared on the weekly price chart. According to an analyst, here are the targets the coin could potentially dip to.

Dogecoin Has Observed A TD Sequential Sell Signal Recently

As explained by analyst Ali in a new post on X, TD Sequential has flagged a sell signal for DOGE. The “Tom Demark (TD) Sequential” here refers to an indicator in technical analysis that’s popularly used for finding points of probable tops and bottoms in any asset’s price.

There are two phases involved in this metric. During the first, candles of the same polarity are counted up to nine, and at the end of these nine candles is a potential reversal point for the asset. This phase is called the “setup.”

If the candles leading to the setup’s completion were green, then the TD Sequential would give a sell signal for the chart. On the other hand, if they were red, the signal would be a buy one.

The other phase is the “countdown,” which kicks off as soon as the setup is complete. This phase is thirteen candles long; at the end of these thirteen, another probable top or bottom occurs for the price.

Dogecoin has seen its weekly price complete a TD Sequential setup recently. Below is the chart shared by the analyst that highlights this pattern in the memecoin.

As is visible in the graph, the TD Sequential has completed the setup phase on the weekly chart of Dogecoin with green candles recently. This could indicate that the coin may reverse towards a downtrend from here on out.

“This comes as DOGE faces a key resistance level that has repeatedly thwarted its climbs in the past,” explains Ali. “A correction could see prices dip to $0.085 or even $0.078.”

The former target would mean a decrease of about 11% from the current cryptocurrency price, while the latter would suggest a drawdown of more than 18%.

Not all hope may be lost for Dogecoin, though, as the analyst notes, “if DOGE can surge past $0.11, the bearish scenario gets negated.” A few days ago, Ali also shared this chart that showed the on-chain support and resistance map of the memecoin:

In on-chain analysis, support and resistance are defined based on the concentration of investors who bought at a particular level. Price ranges hosting the cost basis of many addresses provide strong support/resistance when the asset’s spot price retests them.

The chart shows that the $0.094 to $0.097 range is the strongest support zone for the asset out of all the listed ranges. Dogecoin has declined into this zone recently, so it’s a test of whether on-chain support can hold against the technical sell signal that has recently formed.

DOGE Price

At the time of writing, Dogecoin is trading at around $0.096, up 7% in the past week.

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