The capitalization of ERC-404 standard tokens decreased by more than 20% per day

  • The market capitalization of ERC-404 tokens decreased by 21.6% per day.
  • At the time of writing, this figure is more than $191 million.
  • The price of most ERC-404 assets also fell.

The market capitalization of ERC-404 tokens decreased by 21.6% per day. At the time of writing, this figure stands at over $191 million, according to CoinGecko.

Let us remind you that ERC-404 is a new standard designed to combine the best qualities of fungible tokens (ERC-20) and NFTs (ERC-721) and solve the problem of liquidity of NFT collections and expand the possibilities of their use in the DeFi ecosystem.

Over the past 24 hours, the price of most ERC-404 assets has also decreased. For example, the PANDORA rate fell by about 12%, DeFrogs – 15.6%, Rug – 6%.

Rate of top 10 assets of the ERC-404 standard.  Data: CoinGecko.
<em>Rate of top 10 assets of the ERC 404 standard Data <em><em>CoinGecko<em><em><em>

Note that the Incrypted team collected information about the new token standard to understand how ERC-404 works. More details in the material:

Let us remind you that we previously reported that the trading volume of ERC-404 standard tokens crossed the $105 million mark.

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