The capitalization of ERC-404 standard tokens decreased by more than 20% per day

• The market capitalization of ERC-404 tokens decreased by 21.6% per day.
• At the time of writing, this figure is more than $191 million.
• The price of most ERC-404 assets also fell.

The market capitalization of ERC-404 tokens decreased by 21.6% per day. At the time of writing, this figure stands at over $191 million, according to CoinGecko.

Let us remind you that ERC-404 is a new standard designed to combine the best qualities of fungible tokens (ERC-20) and NFTs (ERC-721) and solve the problem of liquidity of NFT collections and expand the possibilities of their use in the DeFi ecosystem.

Over the past 24 hours, the price of most ERC-404 assets has also decreased. For example, the PANDORA rate fell by about 12%, DeFrogs – 15.6%, Rug – 6%.

Note that the Incrypted team collected information about the new token standard to understand how ERC-404 works. More details in the material:

ERC-404: a revolutionary token standard or a “slot machine for degens”?

02/09/2024

15 minutes

3167

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Let us remind you that we previously reported that the trading volume of ERC-404 standard tokens crossed the $105 million mark.