The crypto borrowing and lending platform Nexo recently provided transparency into exactly how its business makes money. Its lengthy breakdown follows the collapse of numerous high-profile crypto lending firms that were overexposed to defunct projects and businesses. Nexo’s Business Model As Nexo explained in a Twitter thread on Monday, Nexo’s primary business strategy is to facilitate collateralized credit. Its core services include crypto collateralized loans, interest-bearing crypto accounts, and spot, futures, and options trading. Through its Earn product (crypto interest…
It is always nice to see new projects taking inspiration from successful ones in crypto. We have seen it many times before, and it is happening again with Volt Inu (VOLT). The project is following in the footsteps of SHIB, which has been highly successful.
The team behind Volt Inu (VOLT) announced multiple listings of the token over the recent months. The listing of the project on Gate.io and Bittrex Global are the most recent ones.
Gate.io – Effects on SHIB and Expectations for VOLT
The fact that VOLT’s listing announcement on Gate.io has caught so much attention from the market is not surprising. Crypto enthusiasts will undoubtedly remember how SHIB’s price surged by 175X after being listed on the same exchange.
While some may see this as a coincidence, one may believe there is more to it than meets the eye. VOLT’s recent price performance may represent a testament to the strong fundamentals of the project and its long-term potential.
Of course, it is still too early to tell whether VOLT will be able to replicate SHIB’s success. However, the project has already made a strong case for itself and is worth keeping an eye on.
Memecoins are becoming more and more popular in the crypto space. Their often deflationary supply and high demand make them appealing to investors looking for unbelievable profits.
Does History Repeat Itself? VOLT Joins Bittrex
Among the latest platforms that will list VOLT, Bittrex deserves special mention. The US-based exchange has been in the industry for a long time and is known for its stringent listing requirements.
In the past, Bittrex has listed some of the most successful coins. Among these, we can mention Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).
Interestingly, all these coins have something in common: they are all reputable projects in their respective categories. BTC is the largest cryptocurrency by market capitalization, while ETH is the second-largest blockchain platform. LTC is one of the oldest and most trusted cryptocurrencies, and XRP is still a top coin by market capitalization.
Bittrex is a high target platform for crypto projects, as the website’s strict criteria to list a token prove.
The fact that SHIB itself only recently managed to join Bittrex gives an idea of how competitive the space is.
VOLT’s listing on Bittrex is no surprise, given the project’s strong fundamentals. The token has recently been one of the most hyped coins, and its price has surged accordingly.
How Does the Listing of a Token on a Major Exchange Affect Its Popularity?
The listing of a token on a major exchange affects its popularity to a great extent. There are various reasons for this:
- It brings the token to a larger audience: When a token joins a major exchange, it gains exposure to a much larger audience than before. This is because the exchange has a large user base, and the listing often generates media coverage. Consequently, more people become aware of the token.
- It increases liquidity: The listing of a token on a popular exchange also increases its liquidity. This is because the exchange provides a platform for people to buy and sell the token. As a result, it becomes easier for people to trade the token, and its popularity increases.
- It adds credibility: A token listing on a major exchange also adds credibility to the token. This is because the exchange is a reputable institution, and its listing of a token adds legitimacy to the token. Consequently, more people are willing to invest in the token.
- It provides support: A token listing on a major exchange also includes support for the token. This is because the exchange can provide information and assistance to people looking to invest in the token. Therefore, more people are willing to invest in the token, and its popularity increases.
Aiming to Replicate the Success of SHIB
VOLT and SHIB have several things in common. Both rely on anonymous and cryptic developers. They have numerous partnerships and a committed community. Moreover, Gate.io listed both projects nine months after their launch.
VOLT aims to replicate the success of SHIB and become the top dog in the world of digital currency. With so many things in common, it’s no wonder that VOLT is quickly gaining popularity.
The fact that the two tokens’ listing on Bittrex happened almost simultaneously is an interesting signal for the market. Some may argue that VOLT is closing the gap with SHIB.
Volt Inu (VOLT)’s Proposal to Appeal to Investors
Volt Inu (VOLT) is a token strongly relying on hyper-deflationary mechanisms to support its price action.
What’s interesting about Volt Inu (VOLT) is that it isn’t just a deflationary token but also a hyper-deflationary token. This means that its supply decreases even faster than the regular deflationary tokens. This is because Volt Inu (VOLT) burns a portion of its tokens every time someone buys or sells it on top of several other burn mechanisms. This decreases the supply, which in turn eventually increases the price.
Final Thoughts – The Parallel Stories of VOLT and SHIB
Both VOLT and SHIB have a lot in common, as mentioned above. Both are deflationary tokens with a commitment to their communities. Interestingly, both tokens have recently been listed on Bittrex almost simultaneously. This is an important signal for the market, showing that both projects are gaining traction.
VOLT wants to follow in SHIB’s footsteps and dominate the digital currency market. It’s understandable that VOLT is swiftly gaining popularity, given that the two have so much in common.