Meme Coin Frenzy Drives Solana and Ethereum Price Surge

5718 Meme Coin Frenzy Drives Solana and Ethereum Price Surge
On behalf of WonderFi Technologies Inc.

On Behalf of WonderFi Technologies Inc.

The recent meme coin frenzy has ignited significant trading activity on Ethereum and Solana networks, with major exchanges like Binance reaping the rewards. Binance alone has recorded over $100 trillion in cumulative spot and derivatives trading volume, highlighting the immense capital flowing into the crypto market. As demand for meme coins continues to rise, Binance’s daily spot trading volume stands at $12.3 billion, with derivatives reaching $43.15 billion. WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF), one of the largest providers of Ethereum and Solana services in Canada, has also seen a substantial increase in trading volume and revenues amid this frenzy. As one of the top platforms listing meme coins that are generating high trading volumes in 2024, WonderFi offers exposure to the meme coin trend without the complexities of direct trading. For those looking to capitalize on the meme coin craze, WonderFi and other digital asset stocks like Coinbase Global, Inc. (NASDAQ:COIN), DeFi Technologies Inc. (CBOE CA:DEFI) (OTC:DEFTF), Block, Inc. (NYSE:SQ), and PayPal Holdings, Inc. (NASDAQ:PYPL) offer a simpler entry point into the crypto market.

WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) has solidified its position as Canada’s largest regulated crypto trading platform, emerging as a powerhouse in both centralized and decentralized financial services globally. With over $1.35 billion in assets under custody, WonderFi is reshaping how users interact with digital assets, offering everything from seamless trading and payment solutions to cutting-edge DeFi products, including custom blockchains and non-custodial wallet apps.

Backed by a portfolio of high-impact brands like Bitbuy, Coinsquare, and SmartPay, WonderFi Technologies provides unrivaled exposure to the ever-evolving digital asset landscape. Its reputation for innovation and acquiring critical licenses ensures it remains at the forefront of the crypto world.

WonderFi recently expanded its operations into the APAC region with the launch of Bitbuy APAC, marking a significant milestone in the company’s international growth strategy. With a local team now established in Melbourne, Australia, and its first-ever international crypto trade completed, Bitbuy is positioned to make waves in the Asia-Pacific region. The expansion follows WonderFi’s acquisition of Australian-based FX Institutions Pty. Ltd. in March 2024 and comes alongside a strategic partnership with Kogan.com, a leading Australian e-commerce platform. In celebration of Bitbuy’s APAC launch, Kogan made the first purchase of Bitcoin through Bitbuy APAC, further cementing the partnership.

In September, WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) launched upgraded mobile trading apps for Bitbuy and Coinsquare, marking the first of several major product upgrades. The new Bitbuy and Coinsquare 2.0 apps introduce a range of advanced features, including customizable watchlists, enhanced portfolio tracking, revamped asset pages, and dark mode for iOS and Android users. These updates have already gained widespread adoption, with 85% of Bitbuy users and 93% of staking participants embracing the upgrades. 

In tandem with the app launch, WonderFi unveiled a new marketing campaign targeting football fans in Canada and Australia through a partnership with DAZN, the leading sports entertainment platform. The campaign cleverly compares sports betting to betting on Bitcoin, emphasizing the long-term resilience of crypto. The ads will run throughout the football season, reaching audiences through TV, digital, and connected platforms.

Looking ahead, WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) is developing its own layer-2 blockchain and crypto wallet, positioning itself to expand its footprint in the rapidly growing DeFi market. This strategic move aligns with a broader industry trend of regulated crypto platforms adopting decentralized solutions, similar to Coinbase’s successful launch of its layer-2 blockchain, BASE, which brought in $360 million in its first year. 

Click here for more information about WonderFi Technologies (TSX:WNDR) (OTCQB:WONDF).

New Token Listings and Strategic Moves Strengthen Crypto Industry Giants

Coinbase Global, Inc. (NASDAQ:COIN) recently announced plans to list two Solana-based tokens, io.net and Degen. io.net’s IO token, native to the Decentralized Physical Infrastructure Network (DePIN), aggregates GPUs from distributed storage providers to offer scalable computing power. Launched in June, it quickly gained attention, debuting as the 55th token on Binance’s launchpad. Degen, a memecoin on the Base network, an Ethereum sidechain, launched in January with 15% of its 36 billion total supply airdropped to Farcaster’s Degen channel members. Both tokens will soon be available for trading on Coinbase.

DeFi Technologies Inc. (CBOE CA:DEFI) (OTC:DEFTF) has acquired Stillman Digital, a leading digital asset liquidity provider with over US$20 billion in trade volume since 2021, including US$5 billion in Q2 2024 alone. Stillman Digital specializes in electronic trade execution, market making, and OTC block trading. This acquisition enhances DeFi Technologies’ trading capabilities and diversifies its customer base and revenue streams. By integrating Stillman Digital’s expertise, DeFi plans to strengthen its arbitrage trading desk and global operations. Stillman Digital will also expand into new business areas like Custody, Foreign Exchange, and Proprietary Trading, driving future revenue growth.

Block, Inc.’s (NYSE:SQ) Cash App offers a fast, efficient way to manage money, allowing users to send, receive, and store funds, with quick transfers to external bank accounts. Customers can instantly buy and sell Bitcoin, receive paychecks directly into the app, and use personalized $cashtags for easy payments. The Cash App Card provides convenience by working anywhere Visa Debit is accepted. Through a partnership with Lyft, Cash App Pay is now integrated into the Lyft app, offering seamless payment options for digital-first users. In Q2 2024, Cash App had 57 million users, while Lyft had 23.7 million active riders.

PayPal Holdings, Inc. (NASDAQ:PYPL) announced that US merchants can now buy, hold, and sell cryptocurrency directly from their PayPal business accounts, except in New York State. This new feature allows millions of merchants to access cryptocurrency capabilities previously available only to consumers. According to Jose Fernandez da Ponte, PayPal’s Senior VP of Blockchain, the offering responds to increasing demand from business owners. Additionally, merchants can now transfer cryptocurrency to and from external wallets. PayPal has also introduced its stablecoin, PYUSD, and expanded its usage across platforms like Xoom and the Solana blockchain for increased flexibility.

Last month, WonderFi Technologies Inc. (TSX:WNDR) (OTCQB:WONDF) provided an update on its Bitcoin and Ethereum treasury buying program. The program, aimed at leveraging Bitcoin’s recent gains and capitalizing on buying opportunities in Ethereum, concluded on September 30, 2024. By August 30, 2024, WonderFi’s total Bitcoin and Ethereum holdings had grown to approximately US$4.02 million.

Click here for more information about WonderFi Technologies (TSX:WNDR) (OTCQB:WONDF).

Featured Image @ Freepik

Disclaimer

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, WonderFi Technologies Inс. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by WonderFi Technologies Inс. ’s Digital Marketing Agency of Record (Native Ads Inc.). Additional details relating to Market Jar Media Inc.’s engagement by WonderFi Technologies Inс. ’s Digital Marketing Agency of Record (Native Ads Inc.) are set out in https://pressreach.com/disclaimer-wndr.

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.’s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on pressreach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on pressreach.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding WonderFi Technologies Inс. ’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to WonderFi Technologies Inс. ’s industry; (b) market opportunity; (c) WonderFi Technologies Inс. ’s business plans and strategies; (d) services that WonderFi Technologies Inс. intends to offer; (e) WonderFi Technologies Inс. ’s milestone projections and targets; (f) WonderFi Technologies Inс. ’s expectations regarding receipt of approval for regulatory applications; (g) WonderFi Technologies Inс. ’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) WonderFi Technologies Inс. ’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute WonderFi Technologies Inс. ’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) WonderFi Technologies Inс. ’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) WonderFi Technologies Inс. ’s ability to enter into contractual arrangements with additional parties; (e) the accuracy of budgeted costs and expenditures; (f) WonderFi Technologies Inс. ’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of WonderFi Technologies Inс. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) WonderFi Technologies Inс. ’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact WonderFi Technologies Inс. ’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing WonderFi Technologies Inс. ’s business operations (e) WonderFi Technologies Inс. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, WonderFi Technologies Inс. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does WonderFi Technologies Inс. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither WonderFi Technologies Inс. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of WonderFi Technologies Inс. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of WonderFi Technologies Inс. or such entities and are not necessarily indicative of future performance of WonderFi Technologies Inс. or such entities.

8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation.