{"id":12428,"date":"2024-04-10T14:19:58","date_gmt":"2024-04-10T11:19:58","guid":{"rendered":"https:\/\/forklog.com\/en\/saga-token-surges-nearly-19000-following-launch\/"},"modified":"2024-04-10T14:19:58","modified_gmt":"2024-04-10T11:19:58","slug":"saga-token-surges-nearly-19000-following-launch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/saga-token-surges-nearly-19000-following-launch\/","title":{"rendered":"Saga Token Surges Nearly 19,000% Following Launch"},"content":{"rendered":"

On April 9, the team behind the L1 blockchain Saga launched<\/a> its mainnet. Concurrently listed on Binance, the project’s token soared by over 18,700% in less than three hours.<\/p>\n

\"SAGAUSDT_2024-04-10_13-55-39\"
15-minute chart of SAGA\/USDT on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

The asset’s price surged from an opening of $0.04 to a peak of $7.89. Subsequently, the quotes stabilized, with SAGA trading below $6 at the time of writing.<\/p>\n

The majority of the growth occurred in the first 15 minutes of trading, during which volume reached an unusual $34.6 million.<\/p>\n

The exchange included a standard warning on the page for investors about the token’s high volatility.<\/p>\n

\n

\u201cSaga is an L1 protocol that allows developers to automatically deploy VM-independent, parallelized, and interoperable chains, providing applications with infinite horizontal scalability,\u201d states a report<\/a> by Binance.<\/p>\n<\/blockquote>\n

The native utility token SAGA is used within the ecosystem for paying network fees, staking, and governance voting.<\/p>\n

The initial supply of the asset is 1 billion coins. On April 5, the token was launched on the Binance Launchpool platform, with 45 million SAGA \u2014 4.5% of the issuance \u2014 available. To support liquidity during the exchange listing, 90 million tokens were allocated.<\/p>\n

According to the project’s tokenomics, 30% of SAGA’s issuance is intended for ecosystem development, 15.5% for airdrops, 10% will go into reserve, and 20% each is allocated to the team and investors.<\/p>\n

Binance reports that Saga supports over 350 projects, with 80% in gaming and 10% in the NFT sector. The team collaborates with several other L1 protocols, including Polygon, Avalanche, and Celestia.<\/p>\n

Earlier, Binance experts explored how modular blockchains like Celestia aid in scaling<\/a> blockchain ecosystems.<\/p>\n","protected":false},"excerpt":{"rendered":"

On April 9, the team behind the L1 blockchain Saga launched its mainnet. Concurrently listed on Binance, the project’s token soared by over 18,700% in less than three hours. 15-minute chart of SAGA\/USDT on Binance. Data: TradingView. The asset’s price surged from an opening of $0.04 to a peak of $7.89. Subsequently, the quotes stabilized, […]<\/p>\n","protected":false},"author":1,"featured_media":12427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1286,596],"class_list":["post-12428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-listing","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=12428"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/12428\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/12427"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=12428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=12428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=12428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}