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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

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    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

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    Labubus have succeeded in every way that NFTs have failed

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    CryptoPunks Floor Price Hits 3-Year High of $208,000

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    NFT sales surge to $574 million in July, second-highest in 2025

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    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

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    Early Off the Grid Skin Holders Are Cashing In – Will You?

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

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    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

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Home Blockchain

Transaction volume of new Ethereum standard ERC-404 token hits $70m

February 15, 2024
in Blockchain
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Transaction volume of new Ethereum standard ERC-404 token hits $70m
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The volume of non-fungible token (NFT) transactions of the new Pandora token (PANDORA) exceeds $70 million.

READ ALSO

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According to Cryptoslam, Pandora ERC-404 NFT transaction volume has surpassed $70 million in the past seven days, up 500% to $71.28 million in a week.

Transaction volume of new Ethereum standard ERC-404 token hits $70m - 1

Source: Cryptoslam

The number of Pandora owners currently sits at 1,217, an increase of 75% over the last seven days. However, the average hold remains at around 0.11 days, which may indicate the speculative nature of the transactions.

The price of PANDORA has also shown positive dynamics over the past week, with the token rising in price by 126%, to $21,220 at the time of writing. Since its launch on Feb. 5, the coin’s price has increased by more than 400%. In the last week, PANDORA has climbed above the $32,800 level.

Source: CoinMaketCap

You might also like: Trader turns 1 ETH to $59k in hours with new ERC-404 token

Lookonchain analysts also note that whales have been purchasing PANDORA over the past two days. In one instance, a trader spent 3.09 million USD Coin (USDC) to buy 136.08 PANDORA for $22,707. Address 0xcdba became the second-largest holder of the token.

Another unknown trader spent 1.87 million USDC to buy 109.5 PANDORA at $17,087. This trader became the fourth-largest holder of the token.

Whales have been buying #PANDORA in the past 2 days!

0xcdba spent 3.09M $USDC to buy 136.08 #PANDORA at $22,707, becoming the 2nd holder of #PANDORA.

0x6fCa spent 1.87M $USDC to buy 109.5 #PANDORA at $17,087, becoming the 4th holder of #PANDORA. pic.twitter.com/fe6UV5m5jd

— Lookonchain (@lookonchain) February 14, 2024

Pandora tokens are fractionally pegged to the entire NFT—they can be traded on decentralized exchanges like ERC-20 assets and make the NFT as liquid as a regular trading pair on decentralized exchanges (DEXs).

See also  Across Protocol Integrates Circle’s CCTP for Faster and Cheaper $USDC Transfers

For example, 10,000 ERC-404 Pandora tokens are associated with 10,000 NFT boxes of different rarity levels. When someone buys a coin, the project will mint a random box associated with that token. If sold, Pandora burns the associated NFT.

You might also like: Experimental Ethereum ERC-404 standard spurs competitor

Tags: 70mERC404tokenEthereumhitsStandardTransactionVolume

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