The PANDORA project token is experiencing rapid growth in the midst of the buzz surrounding ERC-404 tokens. According to data from CoinMarketCap, PANDORA has surged by 30% in the last 24 hours, reaching $32,800 at the time of writing. Trading volumes for the token have seen explosive growth, surpassing the $100 million mark.
Within a week of its launch, the token’s value had surpassed $32,000. The excitement surrounding this new format led to ERC-404 trading volumes on decentralized exchanges (DEXs) and non-fungible token (NFT) platforms exceeding $210 million in less than a week, as reported by Dune.
Binance, a leading cryptocurrency exchange, has recently added support for ERC-404 tokens to its Web3 Wallet. This move followed the addition of 19 new apps to the Binance Web3 Wallet. Additionally, OKX, another cryptocurrency exchange, announced that ERC-404 tokens are now available on their Web3 platform.
Pandora stands out as the first token created based on the experimental ERC-404 standard. This token is a unique combination of ERC-20/ERC-721, where an NFT is automatically generated in the wallet upon purchase. The new standard tokens are designed to enhance liquidity by allowing holders to sell them on DEXs instead of listing NFTs for sale on various marketplaces.
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