Memes are the new money,” tweeted Meltem Demirors, chief strategy officer at Coinshares, on Tuesday. A high market capitalization implies that the asset is highly valued by the market. Among all the assets available on CoinStats, these have the most similar market capitalization to Unisocks. At FRST, we focus on personifying blockchain wallets and generating real-time trading signals off of these personas for high-frequency traders, hedge funds, prop trading shops and crypto researchers. We’ll see whether PleasrHouse ultimately sells enough NFTs to burn both digital SOCKS and physical Unisocks on Wednesday night. In any case, the campaign may turn newer generations of Web3 users onto the influential and high-value Unisocks, which predate more recent apparel brand moves and tokenized fashion drops by years.
One pair will come from Adams’ own feet, and the collective ashes will apparently be used to create the wearable for Uniblocks buyers. In a free market, prices are determined by the point where supply and demand meet. You can assign an exorbitant price to whatever you want, but that means that there might not be what is unisocks anyone to buy what you are selling. So, if you want your socks and still be able to eat after you pay for them, Unisocks is not for you. On the other hand, if you want to hop on the hype wagon and buy tokenized limited-edition socks believing that the price will continue to rise eternally, go for Unisocks.
- CoinCheckup provides live cryptocurrency prices and charts, listed by crypto market cap.
- Any use or reliance on our content is solely at your own risk and discretion.
- One pair will come from Adams’ own feet, and the collective ashes will apparently be used to create the wearable for Uniblocks buyers.
- Uniswap is a decentralized exchange that facilitates the exchange of tokens on the Ethereum blockchain.
- For more information on the market capitalization and price statistics See full market cap and price stats.
Unisocks SOCKS Price today is $39,346, for the last 24 hours 0 SOCKS’s were exchanged with a trading volume of $87.41. We looked at all wallets that have purchased SOCKS tokens from the Unisocks.Exchange and sold the same amount back to the exchange at any point in time. We wanted to analyze those wallets that have no current position in SOCKS and how well they performed. Our analysis found that there were some very performant SOCKS traders and others that did not trade so well. Complete cryptocurrency market coverage with live coin prices, charts and crypto market cap featuring coins on 737 exchanges.
And it’s perfect for beginners
This means that the wallet is currently up 0.04 ETH per SOCK token. SOCKS reached an all time high (ATH) price of over $12,000 on Jan. 19, 2021. Furthermore, it is designed to increase in value every time a token is purchased.
As of today, SOCKS tokens are traded only on the second version of Uniswap decentralized exchanges and can be bought only with ETH coins. No centralized exchanges listing means it’s less accessible for many investors. For the last 30 days, the average daily trade volume is $442. Unisocks is an innovative cryptocurrency exchange platform that allows users to buy and sell digital assets with ease.
Dean Eigenmann, a security researcher and co-founder of the blockchain governance startup Harbour and decentralized exchange platform Dexy, performed a quick review of the Unisocks platform before it was launched. To turn their tokens into socks, Unisock holders must redeem their tokens, taking them out of circulation. According to Unisocks’ website, there are currently only 315 SOCKS tokens left out of 500 in circulation, so 185 crypto enthusiasts have already redeemed their pretty expensive footwear. Those interested in getting exposure to SOCKS, but don’t necessarily want to buy one full SOCK, can purchase via DEXes with SOCKS liquidity pools. Additionally, PieDAO’s recently released PLAY index contains SOCKS as one of its 14 assets. Because SOCKS are ERC-20 tokens, they can be used like any other ERC-20 token on Ethereum.
- Unisocks SOCKS cryptocurrency token built on top of Ethereum platform, launched in May 2019.
- DeFi has grown exponentially over the last year, with many innovative financial products brought to market.
- But their price skyrocketed up to over $92,000 on February 16.
If you are planning to trade crypto, please consult a financial adviser. Assets with the largest change in unique page views on CoinStats in the last 24 hours. PleasrHouse has a few things planned for the online auction. The Unisocks valuation model is probably more egregious than its false scarcity theme. That does not mean the formula is based on any kind of empirical truth. On top of price speculation, people purchase SOCKS believing they will be an important part of internet culture.
Curve DAO
Unisocks (SOCKS) currently ranks 1026 among all known cryptocurrency assets. Showing market cap and how it’s compared to different cryptocurrencies. X2,x10, etc. means if the price of Unisocks (SOCKS) will multiply by x2,x10, etc how much market cap it will have, and how it will compare then to the same coins. Whether you’re looking to trade or just want to learn more about cryptocurrencies, Unisocks is the perfect place to start your journey into the world of digital assets. Each Uniblocks NFT will sell for 0.1 ETH, or about $180 at present. For each 666 Uniblocks NFTs sold, PleasrHouse will burn one of three SOCKS tokens it acquired specifically for the event.
Buy Unisocks & Trade $SOCKS at your Own Peril!
Uniswap created an initial liquidity pool of 500 SOCKS and 35 ETH to facilitate trading; however, anyone can make a pool with SOCKS. Users have already made alternative Uniswap pools, including DAI/SOCKS and USDC/SOCKS. Because of the permissionless nature of DeFi, anyone can take it a step further and use SOCKS across other DeFi protocols. Compared to other crypto coins which started the same year as Unisocks it has below-average trading volume, average volume for the other 461 coins started in 2019 is $4M while SOCKS has $87. A coin is a digital asset that can be used as a medium of exchange.
EthereumPoW
If you know about Decentralised Exchanges, you must have heard about the Pools, these pools are nothing but consist of liquidity of two tokens. Unisocks used a similar pool concept in which they built a Pool of 35 Ethereum Paired with the 500 SOCKS token. Any user who is interested to purchase SOCKS tokens from the eth can use that pool.
The FRST platform was built with professional traders, data scientists, and blockchain researchers in mind. SOCKS may be tongue-in-cheek, but it’s an early example of the use of bonding curves as a price discovery mechanism for physical goods. Any limited edition item (from sneakers to concert tickets) could be priced this way. Uniswap warns that Unisocks is one of the experimental projects on the protocol, which means that it’s very risky to invest in. Every time a SOCKS is purchased, its value increases, which is what is referred to as the “bonding curve” model. The price of Unisocks (SOCKS) has reached a new all-time high of over $92,000.
Holders of $SOCKS can sell them through the Unisocks platform anytime they want. Furthermore, it can also be used to redeem the pair of socks that the token represents. Instead of selling SOCKS at a fixed price and allowing the secondary market to determine their value, Uniswap chose to utilize a bonding curve for a dynamic pricing mechanism. In short, bonding curves allow for a token’s price to be a function of its supply. Every time a token is bought, the following tokens’ price increases at a rate specified by the curve.
