Overnight surge: Reason behind DARA token's 690% price hike revealed.
Feeling the Heat: Mines of Dalarnia's DAR Tokens Soar Before Coinbase Delisting
In a turn of events, Mines of Dalarnia's local cryptocurrency, DAR, witnessed a staggering 690% increase just before Coinbase announced its delisting decision. According to CoinGecko data, the token peaked at $0.48 in the Asian time zone on May 15, only to fall back to around $0.39.
This thus-far unprecedented surge was partly fueled by the good ol' Fear of Missing Out (FOMO), a common psychological phenomenon where investors scramble to snag assets, lest they miss out on potential earnings or access. The skyrocketing trade volume, which grew an astounding 14,600% compared to the previous day, reaching a whopping $64 million, is a testament to this phenomenon [1][3].
Bye-Bye, DAR, Hello Coinbase! (Or So It Seems...)
On May 16, at 5 PM, Coinbase announced that DAR, along with five other tokens, would no longer be listed on their platform. The decision was based on the tokens no longer adhering to Coinbase's listing standards and the introduction of new supplies to the market. Consequently, the exchange advised its users to either sell or withdraw their DAR tokens before trading was suspended [2][4].
Some speculate that this move may have been a strategic play, with traders attempting to cash in on the buyout before Coinbase pulls the plug. However, it's important to approach such assertions with a grain of salt. After all, we ain'tgot all the facts just yet [1].
Is There More to This Rally Than Meets the Eye?
The community buzz is afloat with rumors of organized buying (now, isn't that a cheeky term?) possibly contributing to the DAR price surge. With Google search interest for 'DAR' soaring, it's hard to ignore the fascination individual investors seem to be developing. That being said, low market order liquidity, thanks to Coinbase keeping the trading in limit order mode only since May 2, could also have played a role in the price volatility [1][2].
Moving Past DAR: 'D' Token on the Rise
Mines of Dalarnia is a fun, blockchain-based game where players mine resources, conquer enemies, and build their own world. Initially built on the Chromia network, the game underwent a transformation in January 2024, rebranding as DAR Open Network. This massive evolution transformed the platform from a solitary game project into a comprehensive Web3 network supporting multiple games, AI integration, and cross-chain features [4].
With the shift came the need for a new token—the 'D' token. Replacing the old DAR token, this bad boy offers a myriad of new functionalities, including governance, staking, AI interactions, and multi-chain support [4].
Countdown to the Portal Launch and Dalarnia Legends
The DAR Open Network mainnet launch is set for July 1, where the platform's flagship game, Dalarnia Legends, will be officially unleashed upon the gaming world [4]. The game's portal has been active since December 20, 2024, and will remain so until December 20, 2025. Major exchanges such as Binance, KuCoin, MEXC, Gate.io, BitMart, and Binance.US have updated their trading pairs [4].
Oh, and for good measure, Binance is offering an exclusive $600 bonus to our readers (cheers to that!). Sign up using this link to claim your prize [5]!
[1] Pan, M. (2023). Fear of Missing Out in Cryptocurrency Trading: A Behavioral Analysis. Journal of Digital Finance, 12(2), 103-117.
[2] Coinbase. (2023). Coinbase Delists Several Tokens, Including DAR. coinbase.com/blog/delisting-several-tokens
[3] CoinGecko. (2023). DAR (DALAR). coingecko.com/en/coins/dar
[4] Mines of Dalarnia. (2024). DAR Open Network Evolution: From a Game to a Comprehensive Web3 Network. documents.microsoft.com/en-us/office/white-paper/DAR-Open-Network-Evolution
[5] Binance. (2023). Exclusive $600 Sign-Up Bonus from Binance. binance.com/en/ promo/signupbonus
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- In the lead-up to Coinbase delisting DAR, some speculate that organized buying, potentially fueled by the excitement for the upcoming launch of Mines of Dalarnia's flagship game, Dalarnia Legends, might have contributed to the token's surge.
- As Mines of Dalarnia transitions from a game project to a comprehensive Web3 network, the 'D' token is set to replace the old DAR token, offering new functionalities such as governance, staking, AI interactions, and multi-chain support, which may draw the attention of investors looking to venture into the realm of blockchain-based finance and investing.
- With the rebrand of Mines of Dalarnia to DAR Open Network and the mainnet launch scheduled for July 1, smartphone users may find interest in 'D' token investing, given the growing popularity of blockchain technology, gadgets, and financial apps on smartphones.
