{"id":576937,"date":"2024-02-26T23:00:29","date_gmt":"2024-02-26T23:00:29","guid":{"rendered":"https:\/\/wncen.com\/?p=576937"},"modified":"2024-06-11T08:26:28","modified_gmt":"2024-06-11T08:26:28","slug":"ethereum-erc-404-pandora","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-erc-404-pandora\/","title":{"rendered":"OG Ethereum ERC-404 Token PANDORA Is Rallying Again, What\u2019s Behind It?"},"content":{"rendered":"

PANDORA, the first token to use the Ethereum ERC-404 token standard<\/a>, is on the move after slowing down for a few weeks. The token\u2019s price saw a significant surge over the weekend, rising around 50% to clear $24,000 once more. This recovery was triggered by a number of factors, so here they are.<\/p>\n

Whales Set Their Sights On PANDORA<\/h2>\n

The most obvious reason behind the price push recorded for PANDORA over the weekend can be traced back to significant whale activity. On-chain data tracking website Lookonchain, flagged a number of whale transactions that took place in the days leading up to the price surge.<\/p>\n

Related Reading: The Polygon Vesting Contract Is Officially Empty, Will This Send MATIC Price To $3?<\/a><\/div>\n

The first whale accumulation was seen on February 20, when Lookonchain reported that a single whale had spent $4.89 million to purchase 244.24 PANDORA tokens. The buying spree took place over a number of days, and by the time the whale was done, they had an average entry price of $20,044.<\/p>\n

\n

A giant whale spent 4.89M $USDC<\/a> to buy 244.24 #PANDORA<\/a> at an average price of $20,044 on Feb 13, Feb 14 and today.https:\/\/t.co\/DR58pEXN5j<\/a> pic.twitter.com\/c7Q3sM6ksO<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) February 20, 2024<\/a><\/p><\/blockquote>\n

A couple of days later on February 23, the on-chain tracking platform reported that another whale was making their PANDORA play. This time around, the new whale spent $1.37 million buying 71.45 PANDORA tokens at an average price of $19,268.<\/p>\n

\n

Another whale is buying #PANDORA<\/a>, having spent 1.37M $USDC<\/a> to buy 71.45 #PANDORA<\/a> at an average price of $19,268 so far.https:\/\/t.co\/o1z3c6EfLr<\/a>https:\/\/t.co\/NMzLjtdMqm<\/a> pic.twitter.com\/j0mGVsMik5<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) February 23, 2024<\/a><\/p><\/blockquote>\n

Together, these whales scooped up a little over $6 million worth of tokens. When the price eventually hit $24,000, the first whale saw profit margins of almost $1 million, while the second whale was sitting on a profit of over $330,000.<\/p>\n

\"PANDORA<\/p>\n

Price rose above $24,000 during the weekend | Source: PANDORA\/USDT on Tradingview.com<\/a><\/pre>\n
First Set Of Incentives Land For Holders<\/h2>\n
Another factor that has helped push the price of PANDORA over the week is incentives in the form of airdrops being announced for PANDORA holders. Monarch, a project also built on the Ethereum ERC-404 token standard, announced earlier in February that it would be awarding tokens to PANDORA investors.<\/p>\n
A total of 5% of the token supply was announced<\/a> to be allocated as an airdrop for PANDORA holders. This incentive, coupled with the fact that PANDORA announced<\/a> that it is gearing up to release the latest iteration of the ERC-404 token standard, created demand for the token.<\/p>\n
Related Reading: Bitcoin Fisher Transform Reaches Critical Level Not Seen Since 2021, What This Means<\/a><\/div>\n
PANDORA Token Performance<\/h3>\n
During the weekend, the PANDORA price went from trending around $16,000 to rising 50% in one day to clear the $24,000 level. However, this high price level could not be sustained for long as a sharp dump would follow on February 23, apparently triggered by whales dumping their holdings.<\/p>\n
In the last day, the price of the token has continued to fluctuate between $16,000 and $17,000. As of the time of writing, the altcoin is trading at $17,139, with 5% losses in the last day, according to data<\/a> from Dexscreener.<\/p>\n
Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Binance, chart from TradingView.com<\/strong><\/div>\n","protected":false},"excerpt":{"rendered":"
PANDORA, the first token to use the Ethereum ERC-404 token standard, is on the move after slowing down for a few weeks. The token\u2019s price saw a significant surge over the weekend, rising around 50% to clear $24,000 once more. This recovery was triggered by a number of factors, so here they are. Whales Set Their Sights On PANDORA The most obvious reason behind the price push recorded for PANDORA over the weekend can be traced back to significant whale activity. On-chain data tracking website Lookonchain, flagged a number of whale transactions that took place in the days leading up to the price surge. Related Reading: The Polygon Vesting Contract Is Officially Empty, Will This Send MATIC Price To $3? The first whale accumulation was seen on February 20, when Lookonchain reported that a single whale had spent $4.89 million to purchase 244.24 PANDORA tokens. The buying spree took place over a number of days, and by the time the whale was done, they had an average entry price of $20,044. A giant whale spent 4.89M $USDC to buy 244.24 #PANDORA at an average price of $20,044 on Feb 13, Feb 14 and today.https:\/\/t.co\/DR58pEXN5j pic.twitter.com\/c7Q3sM6ksO \u2014 Lookonchain (@lookonchain) February 20, 2024 A couple of days later on February 23, the on-chain tracking platform reported that another whale was making their PANDORA play. This time around, the new whale spent $1.37 million buying 71.45 PANDORA tokens at an average price of $19,268. Another whale is buying #PANDORA, having spent 1.37M $USDC to buy 71.45 #PANDORA at an average price of $19,268 so far.https:\/\/t.co\/o1z3c6EfLrhttps:\/\/t.co\/NMzLjtdMqm pic.twitter.com\/j0mGVsMik5 \u2014 Lookonchain (@lookonchain) February 23, 2024 Together, these whales scooped up a little over $6 million worth of tokens. When the price eventually hit $24,000, the first whale saw profit margins of almost $1 million, while the second whale was sitting on a profit of over $330,000. Price rose above $24,000 during the weekend | Source: PANDORA\/USDT on Tradingview.com First Set Of Incentives Land For Holders Another factor that has helped push the price of PANDORA over the week is incentives in the form of airdrops being announced for PANDORA holders. Monarch, a project also built on the Ethereum ERC-404 token standard, announced earlier in February that it would be awarding tokens to PANDORA investors. A total of 5% of the token supply was announced to be allocated as an airdrop for PANDORA holders. This incentive, coupled with the fact that PANDORA announced that it is gearing up to release the latest iteration of the ERC-404 token standard, created demand for the token. Related Reading: Bitcoin Fisher Transform Reaches Critical Level Not Seen Since 2021, What This Means PANDORA Token Performance During the weekend, the PANDORA price went from trending around $16,000 to rising 50% in one day to clear the $24,000 level. However, this high price level could not be sustained for long as a sharp dump would follow on February 23, apparently triggered by whales dumping their holdings. In the last day, the price of the token has continued to fluctuate between $16,000 and $17,000. As of the time of writing, the altcoin is trading at $17,139, with 5% losses in the last day, according to data from Dexscreener. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from Binance, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":576946,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85876,3,13625],"tags":[91738,91739,1946,91737,7931,3319,91741,91740],"class_list":["post-576937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","category-news","category-ethereum","tag-erc-404","tag-erc-404-news","tag-ethereum","tag-ethereum-erc-404","tag-ethereum-news","tag-pandora","tag-pandora-price","tag-pandora-token"],"acf":[],"yoast_head":"\nOG Ethereum ERC-404 Token PANDORA Is Rallying Again, What\u2019s Behind It?<\/title>\n<meta name=\"description\" content=\"PANDORA, the first token to use 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"OG Ethereum ERC-404 Token PANDORA Is Rallying Again, What\u2019s Behind It?","url":"http:\/\/wncen.com\/news\/ethereum-erc-404-pandora\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-erc-404-pandora\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/PANDORA-Ethereum-ERC-404.jpeg?resize=200%2C168","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/PANDORA-Ethereum-ERC-404.jpeg?fit=300%2C168"},"articleSection":"Altcoin","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["erc-404","erc-404 news","ethereum","ethereum erc-404","ethereum news","pandora","pandora price","pandora token"],"dateCreated":"2024-02-26T23:00:29Z","datePublished":"2024-02-26T23:00:29Z","dateModified":"2024-06-11T08:26:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"OG Ethereum ERC-404 Token PANDORA Is Rallying Again, What\\u2019s Behind It?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-erc-404-pandora\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-erc-404-pandora\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/PANDORA-Ethereum-ERC-404.jpeg?resize=200%2C168\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/PANDORA-Ethereum-ERC-404.jpeg?fit=300%2C168\"},\"articleSection\":\"Altcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"erc-404\",\"erc-404 news\",\"ethereum\",\"ethereum erc-404\",\"ethereum news\",\"pandora\",\"pandora price\",\"pandora token\"],\"dateCreated\":\"2024-02-26T23:00:29Z\",\"datePublished\":\"2024-02-26T23:00:29Z\",\"dateModified\":\"2024-06-11T08:26:28Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/PANDORA-Ethereum-ERC-404.jpeg?fit=300%2C168","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/576937"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=576937"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/576937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/576946"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=576937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=576937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=576937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}