Sponge V2 (SPONGE) is the second iteration of the popular Sponge meme coin that recorded impressive gains in 2023. The only way to get Sponge V2 is by staking the first version of best ways to earn free bitcoin Sponge V1 tokens. Sponge (SPONGE) is a zero-tax memecoin derived from, but not affiliated to, the beloved cartoon character SpongeBob SquarePants.
This allows easy and quick access to storing, sending, receiving, and interacting with dApps that support the token. MetaMask gives users full control over their private keys unlike exchanges. While Sponge V2 doesn’t have any intrinsic utility, the project is building a play-to-earn game where users can win more tokens. There will also be a free version to help expand the community of token holders, which makes the project more attractive to new investors. The loyal Sponge community has already spurred multiple exchange listings for V1.
However, the whitepaper has said that users will be able to earn $SPONGEV2 tokens by playing. The free version will be meant for Web 2 players, and the Web 3 version will be meant for crypto enthusiasts. This move can entice non-crypto gamers to look at P2E games in a new light. Experts believe in this fact since it is less likely that Sponge V2 will wait for long before going live on any cryptocurrency exchange after arrival.
The starting APY is 40%, the highest among any staking project active right now. The roots of a memecoin are steeped with the feeling of community. Now that Sponge is bridging from V1 to V2, people have more than a few reasons to stay invested in this token. Despite the anonymity of the team, they have been actively promoting private vs public blockchain the memecoin on social media platforms such as Twitter, Telegram, and Discord.
Can I connect a hardware wallet to MetaMask for added security?
The original SPONGE coin gained considerable momentum in the crypto space, proving its 100x potential before delivering a $100k+ airdrop. With a strong V1 history and a large following backing the launch of the V2 polygon token, SPONGE is ready to dominate the Meme Coin market. Many analysts believe Sponge V2 could become the next billion-dollar meme coin by replicating or exceeding the massive success and returns of Sponge V1. The Sponge V2 (SPONGE) meme coin can be securely stored on the popular MetaMask crypto wallet. To add SPONGE token, users simply need to get its contract address and input the details in the Custom Token section.
Investors are advised to exercise caution and conduct thorough research before making any investment decisions. Find out more about Bob (BOB) — another popular memecoin related to Pepe. The project also announced that the contract is renounced and the first wallet is locked.
How Is Sponge (SPONGE) Secured?
If you would like to know where to buy Sponge (SPONGE) at the current rate, the top cryptocurrency exchanges for trading in SPONGE are Uniswap (V3), Gate.io, Poloniex, Bitget, MEXC and more. Yes, MetaMask supports connection to hardware wallets like Ledger and Trezor for enhanced security of your SPONGE tokens and other coins. However, as stated on the Sponge website, the V2 token does not have any “intrinsic value or expectation of financial return”. Meme how to buy and sell bitcoins coin prices are highly unpredictable, so never invest more than you can afford to lose. Make sure to regularly backup your MetaMask wallet and keep the seed phrase protected at all times. Make sure that you have an adequate number of ETH or USDT before you do so.
The way stake-to-bridge has been designed is akin to a crypto presale. And the more hype gets built, there more there is a potential for stakers to make early moving gains. Sponge V2 is coming at a time when the new bull market is potentially coming. 2024 is poised to be the year for Bitcoin halving, with multiple enthusiasts anticipating a major buying frenzy as spot Bitcoin ETF applications get the SEC’s approval. We also offer an insight into its novel stake-to-bridge model that will give you access to Sponge V2, a new crypto with multiple upsides.
Take Informed Investment Decisions
Once the token launches, you will gain the exact number of Sponge V2 tokens. Basically, it is a new name for stake-to-earn, except that a different type of token will be rewarded to you in exchange for staking tokens. Before investing in cryptocurrency, always perform thorough due diligence on the project. Sponge (SPONGE) is a zero-tax gaming memecoin inspired by, yet not affiliated with, the beloved cartoon character SpongeBob.
- If Sponge is able to capitalize on the current macroeconomic conditions and stay true to its long-term goals, it can potentially explode this year.
- Coinscan not only helps you find the best price for Sponge, but is also the ultimate charting platform allowing you to stay up to date with everything regarding Sponge.
- If you don’t, we recommend going to Binance, a leading cryptocurrency exchange that lets users buy cryptocurrencies easily and at a low fee.
- Sponge (SPONGE) is a zero-tax gaming memecoin inspired by, yet not affiliated with, the beloved cartoon character SpongeBob.
If you don’t, we recommend going to Binance, a leading cryptocurrency exchange that lets users buy cryptocurrencies easily and at a low fee. The Sponge V2 staking dashboard shows that more than 3.8 billion tokens have been staked, and the current reward rate stands at more than 400%. Investors can increase their holdings over a 4-year period, starting at a minimum APY of 40%. This is one of the reasons that Sponge V2 has become one of the most interesting staking tokens to invest in. To get access to Sponge V2, you must stake your Sponge V1 tokens via the staking pool.
The token contract address can be easily found on etherscan.io, CoinMarketCap, or official Sponge social media channels. Users own their private keys so Sponge V2 tokens remain fully secure. The original Sponge token built a loyal, sizable community of over 11,600 holders, spurring multiple tier-one exchange listings. Sponge V2 aims to leverage this existing community and replicate the same strategy to secure even more major listings. The same staking perk that has made Sponge V2 rule the headlines is also the reason for this token’s long-term perks. Passive income seekers can keep their tokens staked and can potentially increase their holdings over the course of the next four years.
There might be some drop-off if unstakers move to quickly cash out their gains. However, given that Sponge V2 also has a long-term staking perk, early investors may compound their gains even further. Gripped by the memecoin fever, people came in droves, investing in whatever memecoins they found appealing. Sponge, with its quirky look and whacky inspiration, was one of the key tokens that got people’s attention. Sponge arrived at the heels of PEPE, a memecoin that achieved what no token was able to amidst the crypto winter, launching and quickly reaching the $1 billion market cap.
Coinscan not only helps you find the best price for Sponge V2, but is also the ultimate charting platform allowing you to stay up to date with everything regarding Sponge V2. Simply add the token to your favorites list at the top right of the screen and click the heart icon to see real-time price and market cap. Below the table of exchanges and markets, you can also find a step-by-step guide on how to buy Sponge V2. Coinscan not only helps you find the best price for Sponge, but is also the ultimate charting platform allowing you to stay up to date with everything regarding Sponge. Below the table of exchanges and markets, you can also find a step-by-step guide on how to buy Sponge.
In both cases, the Sponge V1 tokens will be permanently locked in a staking pool. Investors will then receive staking rewards paid out in Sponge V2 over a period of 4 years. After the initial stake-to-bridge phase is over, investors will receive their first batch of Sponge V2 tokens, which are expected to then be listed on crypto exchanges. Sponge is a memecoin that has been gaining considerable momentum in the crypto space. It has an interesting tokenomics model that sets it apart from other memecoins.
Update – $SPONGE has also now been listed on multiple centralized exchanges, including Gate.io, CoinW, Bitget, MEXC, Toobit, Poloneix, BingX, and Orange X. After the bridge is complete, you will get an equivalent number of $SPONGEV2 tokens. The platform’s new, utility-focused approach has likely attracted multiple copycats. Here is the complete guide that explains how one can buy $SPONGE tokens. While Sponge maintains a follower count of just close to 30k on Twitter, it is significant considering it is a project that came out of nowhere.
Explore its different sections and analyze its whitepaper by yourself as well. Learn what the perks are to find out what could be the upsides specifically for you if you decide to invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong. Get the latest crypto news and trading insights with the CoinMarketCap education portal.