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Is Sonm Token a Pump or Dumb Coin on Binance

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The price of SONM ($SNM) has increased by 5261% from $0.2035 to $13.91 in the past 24 hours and 14000% ($0.0008) in two days. $SNM token is an internal currency on the Sonm computing power marketplace. SONM launched its Initial Coin Offering (ICO) on June 15, 2017. The ICO raised a total of $42 million and minted a total of 331,360,000 $SNM with ICO Price tagged at $0.1268 per Token. Holding the $SNM token you can get access to the unlimited resources provided by Sonm.

The Sonm team has control over maximum Circulation Supply and they just keep pouring dollars into it, which indirectly goes back to them. And when some retail investors start investing their money the price might eventually increase or decrease. The total supply of SNM tokens will be switched from 444 million to 44.4 million and the issuance of SNM BEP-20 tokens during the course of the project.

Top 20 holders of $SNM.

The top 20 holders hold a total of 43M $SNM ($351M), accounting for nearly 97% of the total supply. Among them, Binance holds 31.7M $SNM ($258M), accounting for 71.4% of the total supply. Is the pump and dump season back on Binance? Because frankly, there is no reason for the ??$SNM?? currency to rise insanely with no clear utility Instituted – more like an Insider trading metrics which presumably 90% of the liquidity is owned by 20 portfolios.

Next, we will analyze the SNM ERC-20 token data on-chain and share some who made SmartMoney degening on $SNM over the weekend. $SNM is mainly listed on Binance with entire supply in circulation. One wallet holds 79% of the total supply which look like team/treasury wallet as received coins from minting only, while three Binance wallets hold 19% of the supply.

SmartMoney
0x25edc9107a2f643e289d7102b97e53c9cb7900f0: Bought 102,244 $SNM ($11,627) at an average price of $0.1137 from Binance this year. Then successively transferred $SNM to Binance for sale after the price rose. If he sold $SNM at $7, he will make $700K.

0xd3e0edbb859fea5f56e9814bd1c2ecac93b37718: bought 55,543 $SNM for ($11,307 at that time) at $0.2036 on Oct 19, 2022. According to the current price, he can get a profit of 368K, and ROI is 3300%.

SNM ICO Participant: 0x00b35e49de29b61fa3b0ad8d8be308543db8952 spent 1,000 $ETH ($344,680 at that time) to participate in SNM ICO in 2017 and got 3M old $SNM. He provided liquidity on Uniswap and now holds 445,830 $SNM ($3.14M), worth 2,620 $ETH, he’s ROI is 262%.

How did $SNM pull over 14000% Yield in Two Days ?

Information is indeed the new money in the Crypto World, a lot of people don’t get the right information because of the noise everywhere and the little people who have access to vital information hoards it. Longterm, a TA expert tweeted. However, lets say there are 1,000,000 oranges in total. You hold 999,999 of them. You buy the last one for 10,000 USD. The price shows 10,000 USD per Orange [even though it’s not a real price with liquidity at that price point] Of course this is a simplified example to prove a point more clearly.

SNM Coins which have Circulated Supply vs. Total Supply ratio one or close to one will be pumped because they have been accumulated 3 years back and no serious retail buyers remained at their current price. They will hold prices at higher levels for a while and will sell step by step. SNM token was listed on Binance in 2017 when the listing process was much easier than nowadays. The project is made by Russians who got $42M from ICO and immediately stopped developing it.

SNM price is almost dead from its ATH of $13 within the last 24hrs. They tweet some unrelated shit just to make an illusion of an “alive” project IMO the team or the project just decided to find exit liquidity through pumping their shit coin to the moon, and it seems like their plan worked well. $SNM price went up to $13 over the last 24 hrs and currently trading around $1.3, this reeks of a manipulated effort. $SNM has grown widely over the weekend, Binance closed the SNM/BUSD isolated margin trading pair, and did not allow currency of the margin account to be transferred to spot account which is somewhat manipulative.

SONM, social volume is way up but engagement can’t remotely keep up, meaning a ton of empty posts from non-influential accounts. The founder of SonmDevelopment asked on 2ch (a forum for Russians similar to 4chan) what he should do with millions of dollars that he got from $SNM ICO. If you bought $SNM at $13 after it did 5000%, I’m sorry to say but then you deserve to lose money for trading along FOMO.

I’m glad SNM is not yet listed on Binance Leverage, if not lots of people would have been liquidated trying to short $SNM, -7000% within 24hrs in a bear market is unbelievable right? the Crypto market is highly Volatile. More coins will pull 100x, Whales are still in the market. Be careful not to FOMO on tops- Buy Early, Sell Top = SmartMoney.

Financial World War III

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Inflation is a nightmare scenario for many countries since the financial game of justice is currently locked in the entire globe and still seeking to increase. Is there a war on money? I’m still looking into the cause and origin of the current financial globalization catastrophe. In the opinion of many players, the game is open but not actually open.

I believe that when something is widely accepted, it becomes a free market for everyone. Could it be that the dominant banking system rejected a certain system? We are all aware of the topic of the rising European gas prices and gas hikes in several European countries. The global financial war affects all nations, including those in Asia, America, Europe, Africa, and Australia. Inflation may have a number of factors, including increasing aggregate demand, rising salaries, and growth in the money supply, according to economists. The U.S. and global inflation rates in 2022 reached their greatest levels since the early 1980s.

This article is based on the ongoing financial conflict, not a statistical analysis of the situation. All economic theories and regulations will result in an unresolved economic crisis, thus if all economists came together to brainstorm solutions to the world’s financial issues, I doubt there would be any areas of agreement among them.

We all learn to contribute to the human race, which will greatly enhance the world economy and increase the number of individuals who have the opportunity to find employment. But the world system sectors have worth now and in the future, and a sizable population is creating and adding enormous value to the financial system. Why is inflation a global issue on foreign TV channels when all of these are present in the system?

What is Inflation? What is an easy way to define inflation?
The rate at which prices increase over a specific time period is known as inflation. Inflation is often measured in broad terms, such as the general rise in prices or the rise in a nation’s cost of living. However, the current state of the global market, including the definition of inflation and media coverage of the market, indicates that the previous financial is at risk. Win, lose or draw.

Could the bitcoin community be to blame for the problems with the world’s finances?

Alcoholic beverage companies never utilize inebriated people in their advertisements; instead, they always feature individuals of integrity. Because people are embarrassed to use inebriates, the product is not worth the money. These examples are important to discuss. In the global market system, both Bitcoin and the cryptocurrency community are genuine. Some economists believe that the cryptocurrency community is the biggest financial issue driving or contributing to global inflation. Okay, let’s face it: The cryptocurrency community is not the problem with the world market; rather, the so-called centralized exchange is what is fueling financial inflation in that industry. How?, Do you believe that phony bitcoin is sold on centralized exchanges? Another global financial issue that no one has ever examined is this one. I believe the price of bitcoin would have reached $200,000 by now if the centralized functioning exchanges had accepted native bitcoin.

Could the 2022 invasion of Ukraine by Russia be related to the global financial crisis?


European CFO Survey — Spring 2022 According to CFOs, the greatest danger to their companies since the survey’s inception in 2015 is the war in Ukraine and its effects on a European economy already dealing with high inflation and supply issues.

In-depth summary

The invasion of Ukraine has dealt a harsh jolt to corporate mood, which had been rebounding as lockdown measures from the COVID-19 outbreak were lifted, according to the Deloitte European Chief Financial Officers Survey. A record amount of risk, brought on by geopolitics and inflation, is now being reported by CFOs. The data was gathered two weeks after Russia invaded Ukraine, which would have made CFOs’ expressed anxiety more apparent. Energy prices in Europe are significantly impacted by this invasion. War is a sibling of inflation, and we already know that inflation stunts economic expansion. Some have argued that the global rise of inflation means that many countries — including the U.S. — overstimulated their economies and generated excess aggregate demand. These demonstrate that the Russian invasion of Ukraine is to blame for the current rate of inflation in Europe.

Why do businesses in the information and technology sectors dismiss their staff members?

Global development as a whole, as opposed to the modern development we see, is still evolving. Employees are being laid off by businesses right now. What may be the problem? Is it based on new technologies or the status of the financial industry today? It’s likely that the layoffs at these major firms were caused by new technology. The point I’m making is by no means not referring to Twitter. Facebook is currently laying off about 12,000 workers. Then, thousands more workers, including those at Amazon and Twitter, are let go. We take our time repairing this inflated chamber. As big problems for Big Tech companies such as global headwinds and declining ad expenditures arise, Meta Platforms is implementing “hidden layoffs” at Facebook to shrink its workforce.

The parent firm of Facebook reportedly intends to fire more than 12000 ineffective workers from all teams. characteristics of rapid market inflation.

In conclusion, the problem of inflation is just too big to be solved, but one wonderful strategy to combat it is to simply use the past and subsequent solutions to the current issue. Let love reign supreme between Russians and Ukrainians.

Three Africans who profoundly influenced the development narrative for 9ja Cosmos without trying.

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I started today to think about the evolutionary path of 9ja Cosmos.

We have travelled very far, in respect of having two solid products in the marketplace, the Web 3 domains, .9jacom and .9javerse, and we made history as the first to bring a Country internet domain for Web 3, doing it for Nigeria.

This will be something Nigeria can be proud of forever.

However, our ambitions, our meaning, and our intentions go far beyond Nigeria, or for that matter, even Africa.

We reflect on the thought processes that brought us to this point.

We have to recognise three people foremost. Not for having a vision especially for us, but for pushing out ideas that can positively colonise the thinking of others.

Who are they?

Top Left: Austin Okere. :

Who? Early educational life in Ghana, of East Nigeria (Igbo) extraction. Further education in Lagos.

Known for? Founding CWG Nigeria (Computer Warehouse Group), many board positions and philanthropic activities in later life. CWG made ground-breaking impact in its sector.

Why?  Austin regularly produces great videos on business lessons for entrepreneurs, and they are worth checking out. One that particularly impressed me was  a you tube on not selling your seed early, because VC’s will demand control of your future, and you might make an ok living, but you won’t realize the dreams of your idea.

Middle Right: Brian Munyao Longwe

Who? Huge track record of both senior salaried leadership and entrepreneurial activities across various countries in East and East Central Africa.

Known for? Spear-heading internet availability, particularly in remote locations. More recently spear-heading internet availability in Malawi, though his company Converged Technology Networks.

Why? Story about earlier on in his career. Each of the partners had to chose a balance of salary and equity as a hybrid means of payment for work contributed. He chose the balance slanted towards salary and regretted it later, as the company became  worth billions.

He also made a profound statement – ‘It’s good to see more people looking unconventional ways of funding small business in Africa’

Bottom Left : (Prof) Ndubuisi Ekekwe

Who? Not really an easy way to follow the other gents format when it comes to Ndubuisi Ekekwe because that could just end up being a book all on its own. Ndubuisi Ekekwe is equally as active across his native Eastern Nigeria as he is across the US.

Known for? Endless academic writings and achievements;  his Tekedia Institute with various affordable online tech focused, Africa centric programs – soon to spawn Tekedia Atlantic Univerisity; his special VC program targeting African Start-ups –  Tekedia Capital, and his company Fasmicro, under which have come the incubation of many inventions, patents and techproducts.

Why? Well… the catch 22 situation with ‘Prof’ content is that the truly remarkable gets churned out with such robotic precision and at such pace,  that each individual piece starts to become unremarkable amongst a constant wave of profound remarkability. Prof is in the US, because if he was in Lagos, they would need a new datacentre. Yes, 21CTL MDXi, Medallion, and Rackcentre would all overflow with Prof content!

The most impactful message aspect for 9jaCosmos would be his take on Aggregation Strategies, Scaling, and the compound multiplication effects of best fit elements in proprietary business ecosystems.

 

Where this has all led:

9ja Cosmos is trying to fuse all of these lessons and walk a sensible path.

Pantera Capital gave our peer,  Unstoppable Domains $68 million for less than half a % of the business at a time when they only had 5 TLDs as income generating assets with a very narrow blockchain/nft/crypto focus.

At 9ja Cosmos, we are learning from these eminent leaders to think about how we do things differently

So, instead of running after VCs, we are thinking to offer 10% of the business split equally between 20 people, who will commit to pushing the program.

We are ideally looking for unique skillset (such as special coding skills) or access to unique resources so that they can make things happen without asking 9ja Cosmos for ‘fees’ (for example, achieving company registration, and securing intellectual property for us).

If  VCs involved too early, they expect too big a chunk of the equity. This strategy ensures when VCs come looking later, they will have to pay more and get less. We are not VC engagement experts, but we watch Dragons Den!

Next, we will talk more about enduring value strategy, aggregation and scaling!

 

9ja Cosmos is here… Get your .9jacom and .9javerse Web 3 domains  for $2 at:

https://www.encirca.com/handshake-9jacom/

https://www.encirca.com/handshake-9javerse/

Tekedia Capital Portfolio Startup, Egoras, Unveils Hybrid Generators (Petrol, Cooking Gas)

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The United Nations COP27 largely anointed natural gas as the transition fuel as the world decouples from hydrocarbons. I am happy that Tekedia Capital portfolio startup, Egoras, will lead that redesign by unveiling hybrid generators in Africa. Our generators will work on petrol and LPG (cooking gas) and the product is ready. If you buy one, Egoras will handle the refueling via aggregated gas supply. In other words, you never have to go and buy gas because the team will take care of it via a subscription model.

But we are doing everything possible to reduce how much gas the generators consume. In our R&D, we’re also looking at self-charging generators that can last up to 22 hours after charge. This breakthrough will help our generators have up to  80% less gas consumption. The gas will only power the engine to charge the battery for 4 hrs and the generator will run on the charged battery. We also report that we have industrial machine systems which can retrofit most plants to work on LPG.

Do not tell me that hydrocarbons are evil and the world should wean itself of them. I understand that; I lived in the village and loved that natural ecosystem. Yet, hope is not a strategy. We will help build the technologies of the future even as we build the ones of today.

We understand our obligation to save the earth. We will build technologies of the future even as we build the ones needed today.

The COP27 is correct – natural gas is a great transition fuel. We will help to provide technologies to help Nigeria and Africa move from petrol/diesel to gas. Talk to Ugoji Harry and our team on your industrial systems. We began by refurbishing generators. Now, we can make them. Who knows—we can make a plane in future. #EngineersBuildNations

Why Okx CEX Users are Flocking to Toon Finance Protocol

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What is the Okx CEX and how does it work?

CEX stands for Crypto-Exchange and is a platform where you can buy, sell, or trade cryptocurrencies. The Okx CEX is a centralized exchange and like most centralized exchanges they are subject to the same hacking risks. Not like DEXs that offer greater transparency and privacy, as well as lower fees.

Something to remember with how CEXs work in general is that you are giving away your money to the centralized exchange in the hope that they will be nice and take care of it. If that sounds stupid to you then that’s probably because to a certain degree, it is.

Centralized exchanges are a lot like banks, but unlike banks, they don’t have any government backing.

Why are users flocking to the Toon Finance Protocol

There are a number of reasons why users are flocking to the Toon Finance Protocol. One of the main reasons is that it addresses a vulnerability inherent to CEX. Toon Finance is an “extremely DeFi” project that aims to do many things, but most of all, bring crypto back to its roots.

The pre-sale has already flew past stage 1 and collected around $2.5 million. This cements Toon Finance as one of the most popular and successful ICOs in recent time.

OKx doesn’t really stand out against other CEXs which is why users from OKx flocking to Toon Finance isn’t that surprising. That being said, while it doesn’t stand out, it’s nowhere near mediocre either.

Okx manages to go toe-to-toe with Binance and other exchanges whether CEX or DEX by keeping up with trends and offering a solid service. Though it does not change that fact that OKx can take away users’ crypto anytime they want.

Another reason why users are drawn to Toon Finance is that it offers a decentralized exchange (DEX). This is important because crypto is supposed to be decentralized. However, many exchanges are centralized, which means that they are controlled by a single entity. This can be problematic because it makes exchanges vulnerable to colossal rug pulls and outright theft, as we saw with FTX recently. A DEX is less likely to fail because it is not centrally controlled.

Toon Finance has gained popularity very quickly due to these and other factors. It will be interesting to see how the protocol develops in the future.

How will this impact the overall economy

With fewer people using centralized exchanges, there will likely be less trading activity and trading volume overall. This could have a negative impact on the economy as a whole in the short run, as fewer people will be buying and selling cryptocurrency. However, more people using decentralized exchanges could actually have a positive impact on the economy.

As protocols catch up with centralized exchanges in terms of features and convenience, people will increasingly prioritize safety when it comes to their crypto holdings. This could lead to more people investing in cryptocurrency, as they feel more confident that their funds are safe.

In the long run, decentralized exchanges will become more secure and convenient than centralized ones, leading to even more people abandoning CEXs in favor of DEXs.

What are some of the benefits of using the Toon Finance Protocol

Toon Finance is a DeFi Protocol built on Ethereum that has Toon Swap, a DEX for trading multiple crytocurrency pairs. Toon Finance also has multiple products that encourage economical movement within the Toon Swap ecosystem while remaining secure as it will not hold your crypto.

More important than the product is the advocacy, Toon Finance is extreme DeFi and wishes to become an institution that can’t be centralized and fights against centralization as centralization, while having its place, simply does not belong in crypto for the most part.

Toon Finance is still in its ICO which means this is the best time to invest. Toon Finance Tokens or TFTs have a very high valuation right off the bat and the fact that it has reached stage 2 of its pre-sale and gathered $2 to $3 million cements its potential.

Additionally, Toon Finance offers staking and yield farming rewards for TFT holders. This means that holders can earn tokens simply by holding TFTs or providing Liquidity to any pool on Toon Swap.

How can investors take advantage of this new protocol

Toon Swap is a new project that is gaining a lot of attention in the investing world. The project is still in its pre-sale phase, which means that now is the time for investors to get involved. Joining the project while it’s in pre-sale will guarantee the best rates before it launches.

Being early always means that holders get rewarded the most since the tokens are relatively dirt cheap while having a lot of potential to grow.

Toon Swap offers coin tossing and other games that people won’t have to learn for betting. Buying in now means supporting the project early and getting rewarded the most down the line. The potential for growth is high, now is the time to invest in Toon Swap!

Conclusion

If you’re looking for a new DEX project you can get early on, the Toon Finance Protocol is definitely worth checking out. With so many benefits and such a friendly community over on Telegram, it’s no wonder that people are flocking to this new protocol.

Investors should definitely take advantage of this opportunity while it’s still fresh. DEX projects don’t just pop up like mushrooms after a rainy day.

OKx is a centralized exchange where while it’s not special relative to others, it’s still solid and reliable. Unfortunately OKx being solid and reliable rely too much on the whims of a small group of people that might be ready to run with your money or gamble it on their personal projects.

Dex is clearly the only future for crypto. While CEXs are convenient, decentralized is the whole point of crypto and why Bitcoin was made in the first place.

For more information about the Toon Finance Protocol, be sure to visit their website at toon.finance.

 

Website: https://toon.finance/

Presale: https://buy.toon.finance/

Twitter: https://twitter.com/ToonSwapFinance

Telegram: https://t.me/ToonSwapFinance

CoinMarketCap: https://coinmarketcap.com/currencies/toon-finance/