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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
Did you know that three months after Shiba Inu launched, it had a daily trading volume of just $20?
Shiba Inu's moment came on January 30th of last year when SHIB listed on Coinbase. Overnight, the Shiba Inu trading volume jumped to $5.71 million according to CoinMarketCap data.
As we know, the rest is history.
But now a new crypto token – Lucro – has just launched to hit $10 million trading volume in its first 24 hours.
Unlike Shiba Inu, Lucro launched on a decentralised exchange.
Like Shiba Inu, Lucro launched outside of a bear market, and could be well placed to explode in price once more money enters the crypto industry again.
Lucro outdid the Shiba Inu trading volume on SHIB's first day of listing on Coinbase.
What's interesting about the comparison is that on January 30th 2021 the cryptocurrency industry's market cap was $980 million. In late September of 2022, the market cap is $990 million.
Shiba Inu only took off again in price when the crypto industry market cap was over $2.25 trillion.
The fact that Lucro also managed $10 million on its first only trading on PancakeSwap only – a DEX which didn't exist in early 2021 – is a bullish indicator for LCR. At the onset of another bull market, the Lucro could be set to explode.
The rise of Shiba Inu in May of last year was largely thanks to the success of Dogecoin.There was a lot of money in the crypto market in that May, and Shiba Inu was seen as the 'next Dogecoin' – the popularity of this call made it reality.
Fast-forward to September 2022 and both Shiba Inu and Dogecoin are building their own blockchain platforms, as well as DeFi protocols and games. The meme-coins that made a big name when the market was up are trying to build valuable ecosystems to survive bearish times.
Lucro already has a successful ecosystem in play.
Lucro is the high-volume token of the EverGrow ecosystem. EverGrow is a reflection token which rewards holders in BUSD. At first, BUSD rewards were financed by a 14% tax on transactions but Lucro will now power a series of applications from which revenue is pumped 100% back into EverGrow.
The LunaSky NFT marketplace which dropped on September 26th is a prime example.
Lucro will be used to mint new NFTs, with 100% of LunaSky revenue generated used to buy back EverGrow and burn it from supply. A 1% tax on Lucro also sets aside 0.8% to buy back EverGrow and burn it from supply.
The potential for an ecosystem that self-generates rewards for its own holders from application profits is what investors are buying into.
Since it's done without a major listing, Lucro has achieved what Shiba Inu did without the hype.
FIND OUT MORE
EverGrow website: https://evergrowegc.com/
Lucro token website: https://lucrotoken.com/
EverGrow Twitter: https://twitter.com/evergrowcoinEGC
Lucro Twitter: https://twitter.com/lucrotoken
