BREAKING NEWS

The acquisition of five meme (community) currencies, which are inherent to the Avalanche blockchain network, has been disclosed by the Avalanche Foundation.

The action is a component of the ongoing Culture Catalyst Programme of the Avalanche Foundation, which seeks to assist Web3 producers, spur innovation, and encourage a wider use of Avalanche.

Meme Coin Holdings is disclosed by Avalanche Foundation.

The Avalanche Foundation thinks that community coins are essential to the Web3 environment of today and that they capture the distinct passions, energies, and inventiveness of various crypto communities. Through the acquisition of these currencies and the frequent publication of its token holdings, the Foundation hopes to acknowledge and assist these different communities.

The foundation's treasury already contains five community coins. Coq Inu, Gecko, Kimbo, NoChill, and Tech are a few of these. The aforementioned currencies have all satisfied the qualifying requirements of the foundation and are native to the Avalanche blockchain. The rules, which stipulated that only community tokens local to Avax with a certain level of liquidity and trading volume would be acceptable for investments, were revealed in January.

The Avalanche Foundation has made it clear that these rules are subject to modification and are always changing.

“At any time, the Avalanche Foundation may change its community coin holdings, as well as continue to change its criteria for eligible community coins. Nor will the Avalanche Foundation necessarily buy all community coins meeting the criteria. The Foundation reserves the right to make any changes as it deems fit to further its mission and this particular initiative.”

The Community Coins Included

As of today, the Avalanche Foundation’s community coin holdings include Coq Inu, Gecko, Kimbo, NoChill, and Tech. Tech, also called “Number Go Up Tech,” is a meme coin that, according to its CoinMarketCap listing, has no underlying value and is designed to unite the Avalanche community around technology.

"With a playful nod to the world of cryptocurrency, TECH aims to foster a community that celebrates the rise in technology, innovation, and digital transformation. Through engaging memes and discussions, supporters of TECH rally behind the idea that technology is constantly evolving. $TECH is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”

With a maximum quantity of 69 trillion COQ tokens, Coq Inu is a meme coin on the Avalanche C-Chain. Social media and community support play a major role in the coin's value. With a circulating quantity of 64 billion tokens, Gecko, the third coin, has a market capitalization of little less than $11 million.

Kimbo, which is valued at approximately $0.000557, is referred to as the Avalanche blockchain's community dog token. With 69 billion KIMBO in circulation, the coin is valued at $32.53 million on the market. AVAX HAS NO CHILL, often known as NoChill, is the final meme currency on the list. This meme currency was created by the StarsArena community and is exchanged on Platforms.