Yesterday, the NFPrompt (NFP) crypto, belonging to a “User Generated Content” (UGC) project, was listed on Binance after being launched on the exchange’s launchpool section for the previous seven days.
Users of the trading platform had the opportunity to farm the crypto using their own BNB, FDUSD, and TUSD.
The first day of listing was a success for NFP, which closed the day with a price increase of 5.765%, thus giving farmers on Binance a great profit.
Although the launchpool has now ended, there are still methods to obtain NFP crypto as a reward. How to do it?
Let’s see everything in detail below.
Summary
The NFPrompt (NFP) crypto arrives on the markets through the Binance launchpool: how to get free coins now.
A few days ago, Binance presented in the launchpool section its 41st crypto project NFPrompt, anticipating the listing of the NFP crypto on the exchange markets.
This is a protocol of “User Generated Content” (UGC) based on AI developed on the layer 2 OpBNB that allows you to create NFTs in the style of images, videos, and music through the use of artificial intelligence.
The Binance launchpool is an initiative that involves all platform users and offers the opportunity to farm a new coin by locking other cryptocurrencies for a limited period of time and without any constraints.
For 7 days from December 20 onwards, by staking BNB, FDUSD, and TUSD, you could obtain a fraction of the NFP allocation intended for launch on Binance.
Yesterday, the cryptographic resource was launched on the crypto markets, achieving great success within its community.
Trading was opened with several exchange pairs: NFP/BTC, NFP/USDT, NFP/BNB, NFP/FDUSD, NFP/TUSD, and NFP/TRY.
With this Binance Launchpool, a new mode called Fair Mode has also been introduced, which involves allocating a large portion of the NFP supply to exchange customers. It also includes a mechanism that limits the introduction of new tokens to mitigate inflation and protect investors.
Although the launchpool is now over, there are alternative methods to farm NFP crypto by earning tokens as a gift.
On the official website of the AI project, there is a section called “earn” that allows anyone to solve small tasks and unlock daily rewards.
The various tasks include tasks such as: minting an NFT, joining the NFPrompt discord, following the project on Twitter, doing trading on the OpnBNB chain, and inviting a friend to the community.
In this section there is also a daily reward for each consecutive login made on the platform (max 7 logins), unlockable by paying a very small gas fee in opBNB.
Among other things, there is also a “raffle” style lottery that allows each participant to spend 20 NFP to try to obtain a multiplier (0.1%, 1%, 3%, 5%, 10%) of the prize pool, the amount of which depends on how many cryptos have been allocated by users
The tokens earned in this phase can be converted to other cryptocurrencies or spent to use artificial intelligence technology and generate exclusive NFTs by executing prompts and setting some options.
Record performance in the first day of trading for the crypto
The first day of trading on Binance markets was a success for the NFP crypto, which closed yesterday’s daily candle with a positive price variation of 5.765%.
The performance of NFP has been one of the best among all the cryptocurrencies launched with the exchange’s launchpool. This is due to a dual reason:
- First of all, because the project fully fits into one of the most attractive narratives of the moment, namely that of artificial intelligence, which has created hype and interest since its debut on the market.
- secondly, because a perfect timing was chosen to launch a new altcoin, at a time when Bitcoin’s dominance was declining and the total marketcap of the sector was rising. This has contributed to increasing the volume of trades and the traders’ FOMO.
At the time of writing, the NFP crypto is trading at a price of $0.98, slightly down from yesterday’s closing price of $1.15.
After the first candle with which the coin made its debut on Binance, reaching a high of $1,880, the trades have seen a slow price distribution until reaching the current values.
For now, it remains complex to make predictions on NFP, considering the limited history and the dependencies of the token on the broader cryptocurrency market situation.
If Bitcoin manages to continue its upward trend in the last days of 2023 and in the first weeks of the new year, it is very likely that NFP will also benefit from this situation.
On the contrary, if BTC were to encounter a retracement (which is entirely possible at the moment), then even the AI currency could undergo a correction.
Trying to observe the picture from a broader perspective, we can still believe that the next months will be positive for the cryptocurrency, considering that its market cap amounts to “only” 219 million dollars and it has wide growth margins.
Without exaggerating with optimism, it can be hypothesized that NFP will at least be able to double its price if it were to find itself in an optimal general market outlook, making the growth of the altcoin ecosystem possible.
However, be careful not to heavily invest in recently born cryptocurrencies with a limited history: always do your research and manage the risk of speculative operations intelligently.
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