Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»Ethereum’s experiment, ERC404, generates $87 million in transactions.
EXCHANGE NEWS

Ethereum’s experiment, ERC404, generates $87 million in transactions.

By Crypto FlexsFebruary 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum’s experiment, ERC404, generates  million in transactions.
Share
Facebook Twitter LinkedIn Pinterest Email

ERC404, an NFT cryptocurrency hybrid called Ethereum’s experiment, is known to have generated a total trading volume of $87 million on DEX, or decentralized exchanges. The same figure for NFT marketplaces is just under $1 million. The new token combines the properties of fungible tokens and non-fungible tokens (NFTs). The ultimate goal is to increase liquidity and trading flexibility.

ERC404 is implemented through Replicants, a collection of NFTs. Those products can be sold on NFT marketplaces like OpenSea or Blur, or DEXs like UniSwap. Interest in replicants reached a peak where the price rose from 0.38 ETH to 4.26 ETH. This puts the collection among the top 15 NFT collections with a diluted value of $88 million.

Because ERC404 is an experimental token standard hosted by Ethereum, it has not yet been fully externally audited. The two benefits that ERC404 provides are increased trading liquidity and flexibility for users. The increase in liquidity is beneficial to the NFT ecosystem, which has typically been a very illiquid asset sector.

ERC404 is not a completely ideal technology. It has certain disadvantages. For example, selling a fungible token on a DEX will destroy the NFTs linked to the DEX. After purchasing a token, a new NFT is created, but trading volume explodes on decentralized exchanges.

Blur has integrated an experimental token standard. BananaGun and a number of upcoming NFT projects now support it as well.

As for the replicant price rise, you can simply refer to the value of ETH to get a better idea of ​​how much the price has risen recently. At the time of writing, 1 ETH is trading at $2,357.89. It is up 1.53% in the last 24 hours. Moreover, it has surged 2.865 over the past 7 days and has increased by 5.32% over the past 30 days. ETH has overcome fears of remaining below $2,300 following the approval of its Bitcoin ETF application and has remained above $2,300 for the past few days.

The NFT section is still on strong footing. Farcaster NFTs are reportedly selling for thousands of dollars. Most of it is credited to users’ spending on their Farcaster ID. The highest value so far is $7,000 for ETH.

ERC404 is at the heart of bringing together the properties of non-fungible ERC721 and fungible ERC20. This means that ERC721 sets the rules for NFTs, while ERC20 sets the rules that tokens must adhere to. Replicant has the characteristics of both token standards through ERC404, which technically sets the rules for smart contracts to follow.

What sets it apart is the fact that users no longer have to wait to purchase NFTs. Instead, you can go to a DEX to leverage the platform’s liquidity and sell fungible tokens. The only downside is that selling fungible tokens on a DEX destroys the associated NFT.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano (ADA) Signal Recovery -Is there a strong rise?

September 15, 2025

The price of Etherrium surges beyond $ 4,500. -Main level for monitoring more profits

September 12, 2025

Bitcoin Price Struggle $ 113K -Will Bulls take a break?

September 9, 2025
Add A Comment

Comments are closed.

Recent Posts

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

How XRP Enthusiasts Can Earn $15k/Day

September 16, 2025

Bringing 1R0R To R0AR Chain Unlocks New Incentives

September 16, 2025

As the Air drop recipient is sold, the infinite price is 46% conflict after Binance listing.

September 16, 2025

Vulnerability or orbit again? BTC has a line at $ 115K

September 16, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

France can break the EU password market with ‘atomic weapons’.

September 15, 2025

Cardano (ADA) Signal Recovery -Is there a strong rise?

September 15, 2025

BitMine Immersion (BMNR) Announces Crypto And Cash Holdings Of $10.8 Billion, ETH Holdings Exceeding 2.151 Million

September 15, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025
Most Popular

Livespins Splash Dash Race: Dive

June 27, 2024

Crypto analyst says Memecoins could be ‘the biggest story’ in November’s US election.

May 11, 2024

Multipool Enters Strategic Partnership with Tokinvest to Provide High-Level Tokenized Real-World Asset Trading

July 17, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.