TOWNS (Towns) fell 52.54% in 24 hours

Gate News Bot news, August 6th, according to CoinMarketCap data, as of the time of writing, TOWNS (Towns) is currently priced at $0.04, having fallen 52.54% in the last 24 hours, with a high of $0.09 and a low of $0.04. The current market capitalization is approximately $81 million.

Towns Protocol is a protocol focused on blockchain communication, aimed at helping users build, develop, and own their own digital town square. The protocol provides features such as end-to-end encryption, decentralized messaging, programmable space, and ownable communication. The Towns ecosystem includes several applications, such as Send It, Propeller, and Towns, providing users with features like group chat, community management, and announcement channels. As of now, Towns has created 391,449 spaces, has 1,492,655 memberships, generated 7,908 ETH in revenue, and has 329,055 unique space owners.

Recent important news about TOWNS:

1️⃣ Gate Launches TOWNS Perpetual Contracts and Multiple Trading Functions Gate launched TOWNS perpetual contract trading on August 5 at 22:40 (UTC+8), supporting USDT settlement and offering leverage of 1-20 times. At the same time, TOWNS unified account lending and isolated margin trading pairs were opened, along with features for Yubibao wealth management, flexible collateralized lending, and fixed-term collateralized lending. In addition, the flash exchange and dollar-cost averaging functions were simultaneously launched one hour after the TOWNS spot trading went live, providing users with diversified trading and investment options.

2️⃣ Technical issues encountered in TOWNS airdrop redemption On August 5, the Towns Protocol official announced that some eligible wallets are temporarily unable to see the airdrop claim entry due to display errors. The official emphasized that the eligibility of users who have passed the qualification check remains valid, and they are actively working to fix the issue, promising to update notifications as soon as possible. This technical issue may affect the short-term trading behavior of some users.

3️⃣ NFT holders qualify for TOWNS airdrop On August 5th, the NFT project Moonbirds announced that holders of Moonbirds, Mythic, and Oddity who bind their Towns Wallets before the snapshot will be eligible for the TOWNS airdrop. It is worth noting that the airdrop inquiry address is not the user's NFT holding address, but rather the Towns Wallets address linked to the holding address. This initiative may attract more NFT enthusiasts to pay attention to the TOWNS project.

The price of TOWNS has experienced significant fluctuations in the short term, which may be related to several recent important events. The launch of various trading functions on trading platforms like Gate has brought more liquidity and trading opportunities for TOWNS, but it may also trigger price volatility in the short term. Issues regarding airdrop claims and news about NFT holders qualifying for airdrops may also affect investor sentiment and trading behavior.

This message is not investment advice; investors should be aware of market volatility risks.