Coin Metrics is committed to building the crypto economy on a foundation of truth, providing authentic and accurate data with the highest standards of clarity and precision. With this mission in mind, we are proud to share our January edition of Movers and Shakers, the monthly resource aiming to bring more transparency and credibility to the rapidly evolving crypto space.
As new assets reach a certain degree of accessibility to investors, specifically as they achieve alignment with our Market Selection Framework and the Trusted Volume Framework, Coin Metrics uses its crypto expertise to describe the assets’ context of use. The following assets are expected to reach alignment this month:
Cat in a Dogs World (MEW) is a meme coin on Solana competing against dog-themed meme coin popularity. With popular dog-based tokens including Dogecoin (DOGE), Shiba Inu (SHIB), and Floki (FLOKI) maintaining high market caps, MEW attempts to gain traction by generating interest with users who are not interested in dog-themed coins or are diversifying their speculative portfolio. Using a cat as a mascot provides an alternative community token for users to acquire, trade, and create memes around. The community has collaborated with various projects to create social media and artistic content to promote token adoption and growth. MEW tokens can be traded across exchanges and deposited as liquidity to receive trading fees.
Turbo (TURBO) is a meme coin on Ethereum created using ChatGPT-4. The founder used ChatGPT’s guidance and a budget of $69 to create the next viral meme coin. Turbo uses a yellow frog as its mascot with a majority of tokens distributed to the community and the token contract ownership renounced to prevent centralization risks. Community holders lead project development with self-advertising and on-chain implementations across DEXs and other protocols. Turbo is building Turbo Chain on the EVM-compatible Aurora Layer-2 network on the Near Protocol for artists and developers to build applications to support the project and increase community participation. TURBO can be bought on exchanges and deposited in liquidity pools for trading rewards.
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