Investors Shift From Binance Coin (BNB) To Ripple (XRP) And Meme Moguls (MGLS) – Here’s Why

The post Investors Shift From Binance Coin (BNB) To Ripple (XRP) And Meme Moguls (MGLS) – Here’s Why appeared first on Coinpedia Fintech News

A few months back, Binance Coin (BNB) was one of the most profitable platforms. However, it has fallen flat on the ground due to ongoing market conditions. Investors have also analyzed its performance and started moving toward Ripple and Meme Moguls. Although Ripple is trading in the green, it is no match to the rise of Meme Moguls. This new platform is undergoing its presale stage 1, which is selling out fast.

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Binance Coin’s (BNB) Market Size Shrinks

Growing negative sentiments around its exchange has hurt the growth prospects of Binance Coin. As per the latest market data, Ripple is about to overtake Binance Coin to become the world’s fourth-largest cryptocurrency. This is happening due to the continuous decline in the market position of Binance Coin following the SEC lawsuit.

The market size of Binance Coin has also shrunk lately. In the latest event, Binance Coin has withdrawn its licensing application in Abu Dhabi. At the time of writing, BNB was down by 1% on the daily price chart. Subsequently, a BNB token is currently available at $250.59.

Ripple’s (XRP) Partner Joins Hands With Saudi Aramco

The Ripple ecosystem is flourishing with new developments. In the latest event, Ripple’s major partner in Japan, SBI Holdings, has teamed up with Saudi Aramco. The partnership aims to promote digital assets and startups, which can indirectly benefit XRP.

Earlier, Ripple received a major market push when the leading crypto exchange and wallet, Blockchain.com, relisted XRP. According to experts, these developments can significantly increase the use of the Ripple blockchain in the coming months.

Meme Moguls’ Presale Goes For Record-breaking Success

As per the data from CoinMarketCap, the total market capitalization of meme coins has crossed $16 billion as of July 13, 2023. However, one thing about meme coins that bothers investors is their non-usability. About 99% of meme coins do not serve any purpose. They are based on hype and speculation.

However, Meme Moguls is challenging this notion about meme coins, with its native token, MGLS. It is a P2E meme coin developed on the Ethereum blockchain. MGLS is an in-game currency as well as a governance token for the Meme Moguls ecosystem.

Meme Moguls’ gaming environment is its USP. Here, users will get to learn about investment through simulations. For instance, Beat the Market is a game mode where players will have to outperform an index like the S&P 500. Besides, members of the platform can set up tournaments, and compete in a simulated investing game.

Interestingly, members can also create prize pools and tournament buy-ins to make them more interesting and competitive. Additionally, you can join free and paid trading tournaments to win cash prizes, and other meme collectibles like Pepe and Dogecoin. The platform will also boast a marketplace where players can buy, sell, or swap in-game items. 

The project team has capped the total token supply at 3 billion, with 60% of them reserved for the presale phase. The presale phase of the platform has begun, with an MGLS token currently costing just $0.0021. However, experts believe it will surge by 100x in the first year.

Learn more about the $MGLS here:

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