Altcoins
Australian Rap Star Iggy Azalea Launches Meme Coin, These 2 Altcoins Soar
Australian rap star Iggy Azalea recently released a coin, Mother Iggy (MOTHER), which has risen significantly. Interestingly, the ETFSwap (ETFS) the token also saw its value skyrocket following this development. These two altcoins have benefited significantly from the entry of celebrities like Iggy Azalea into the crypto space.
Altcoins Rally: ETFSwap (ETFS) Soars After Iggy Azalea Launches MOTHER Meme Coin
The value of ETFSwap skyrocketed by more than 500% in the last 24 hours following the launch of Iggy Azalea’s Mother Iggy (MOTHER) meme coin. ETFS, the native token of decentralized investment platform ETFSwap, has reportedly been soaring as the platform could become the home of these celebrities as others continue to venture into crypto.
These celebrities are known for diversifying their portfolio into altcoins, and this is where a platform like ETFSwap (ETFS) comes in since they can invest in crypto assets and exchange-traded funds (ETFs) on the platform. The investment platform symbolizes them AND F and makes them available for on-chain trading.
ETFSwap (ETFS) is destined to become their preferred choice (over centralized trading platforms) for several reasons. On the one hand, the platform offers a simpler and more secure environment for trading these traditional assets. Trading on the investment platform is simpler since users simply need a crypto wallet and the ETFSwap (ETFS) token to start investing in traditional assets.
Additionally, it is worth mentioning that know-your-customer (KYC) requirements on ETFSwap (ETFS) are not mandatory, meaning users (including these celebrities) can quickly start investing without having to worry about unnecessary administrative formalities. and the verification processes they would typically encounter if they were to use centralized entities.
ETFSwap (ETFS) also further protects user privacy by using zero-knowledge (zk) proof technology on the platform. This means that users can easily trade without fear of their identity being revealed.
This is an essential feature, especially for investors who would like to keep their investment decisions private and away from the prying eyes of government or regulators. Users can rest assured that they are trading anonymously, as even ETFSwap (ETFS) will have no idea who is making the trades.
Meanwhile, using the ETFSwap (ETFS) is considered a safer way of investing since transactions on the platform are highly encrypted, making them less susceptible to hacks, unlike traditional financial infrastructure (TradFi). The unparalleled security of ETFSwap (ETFS) is even more critical given the millions of dollars investors will be looking to invest in these tokenized ETFs.
Iggy Azalea’s MOTHER Meme Coin Rises With Investors Making Big Gains
The meme coin Mother Iggy (MOTHER) quickly reached a market capitalization of $29.2 million after that of rap star Iggy Azalea. revelation that she was the developer behind the coin, which was deployed on the Solana (SOL) network. Meme coin traders have reportedly made significant gains from the increasing market capitalization of Mother Iggy coin (MOTHER), making it one of the most profitable altcoins today.
Lookonchain On-Chain Analytics Platform revealed that one particular trader turned $861 into $657,000 (a 762x gain) in just 5 hours by trading the Mother Iggy (MOTHER) meme coin. On-chain data tracker Bubblemaps also revealed that another trader made a $2 million profit by purchasing the coin Mother Iggy (MOTHER) just before Iggy Azalea’s revelation that she was the developer behind the coin even.
Meanwhile, Iggy Azalea continued to actively promote the meme coin Mother Iggy (MOTHER) on her platform X (formerly Twitter). However, the crypto’s value has fallen to a market cap of around $16.6 million from its all-time high (ATH) of $29.2 million. It’s a stark reminder of the risk associated with these altcoins that have no intrinsic value.
Conclusion on Celebrity-Backed Altcoins
With celebrities like Iggy Azalea ready to flock to altcoins such as ETFSwap (ETFS), one can only imagine the billions of dollars that will flow into the investment platform daily. These flows will pass through the platform’s native token, ETFSwap (ETFS), since that is what they will convert into the ETF of their choice.
For more information on the ETFS presale:
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