EDEN crypto, the latest token launch on the BNB Smart Chain (BSC) and backed by YZi Labs, has declined by -68% since its launch yesterday. EDEN crypto began trading at $1.31, and within just seven hours, it had fallen to under $0.40. It has since reclaimed $0.4, but the damage on the chart is done, and it will take a lot for OpenEden to recover from here.

OpenEden is an RWA project built on BSC and launched yesterday, accompanied by a multitude of catalysts that provided non-stop sell pressure. It went live via the ‘Binance HODLer Airdrop’ campaign, which saw 20M EDEN (~$8M at current prices) tokens set aside for Binance users staking BNB.

The OpenEden team also conducted its own airdrop for users who participated in its DeFi campaign, which, combined with the Binance airdrop, has created a wave of non-stop selling, resulting in the EDEN market cap falling to just $72M. Does the EDEN price action serve as a warning to ASTER crypto, or does it highlight YZi Labs’ commitment to the perp DEX platform?

Market Cap

What is EDEN Crypto and How to Earn With Its Native USDO Stablecoin

OpenEden is a platform that tokenizes real-world assets, primarily US Treasury securities, making them accessible on-chain to professional and institutional investors.

EDEN is the native token of the OpenEden ecosystem. It can provide holders with access to special discounts and rebates, growth campaigns, governance, and staking opportunities.

OpenEden’s TBILL Vault enables investors to gain on-chain exposure to short-term US Treasury Bills by minting TBILL tokens, each of which is backed 1:1 by these government securities. The fund is regulated in the British Virgin Islands and holds a Moody’s “A-bf” rating, with portfolio management by BNY Mellon.

Investors can deposit USDC to receive TBILL tokens, which are controlled in whitelisted wallets. TBILL tokens offer secure, liquid, and low-risk returns with instant, 24/7 on-chain settlement.

EDEN crypto also features a native stablecoin called USDO, which serves as a rebasing, yield-bearing token.  In simple terms, USDO is designed to generate a daily yield while being pegged to the US dollar at a 1:1 ratio.

Its rebasing mechanism adjusts the peg daily to maintain a stable value while generating yield to token holders. This yield is derived from reserves comprising mainly tokenized Treasury securities and other low-risk assets.

The OpenEden platform has a TVL (total value locked) of just over $298M, with an annualized revenue of $7.38M, marking a strong start for a new RWA protocol on the BNB Smart Chain BNB BNB 1.20% BNB BNB BNB Price $587.80 1.20% /24h Volume in 24h $488.81M Price 7d Learn more .

Like ASTER, the EDEN crypto chart is at the mercy of Binance founder CZ and his investment firm, YZi Labs. Will they pump or dump it further?

(SOURCE: DefiLlama)

DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now 

Can YZi Labs Save the OpenEden Chart? Is ASTER Heading in the Same Direction?

Similar to ASTER, Binance founder CZ and his family investment office, YZi Labs, are the incubators of the EDEN crypto project. While ASTER surged +7,000% within the first few days of the token going live, OpenEden has had the opposite beginning, falling -68% from its launch price.

There are two different perspectives to consider when speculating about the future of both projects and the potential role YZi Labs may play. On one hand, nervous ASTER investors may be looking at the EDEN crypto chart, seeing it down nearly 70% less than 24 hours after going live.

Hopeful ASTER investors will be highlighting that the perp DEX token surged over 7,000% within the first week of its launch. Therefore, even though it is down -10% on the day and -32% from its all-time high, the insane opening run for Aster could be an indication that YZi Labs is prioritizing its success over EDEN crypto at this stage.

ASTER is holding steady at over $1.6, bouncing cleanly from its demand zone on a 4-hour timeframe, while OpenEden is trading for $0.4 and appears to be struggling to maintain that level, with a further drop a real possibility.

Like ASTER, the EDEN crypto chart is at the mercy of Binance founder CZ and his investment firm, YZi Labs. Will they pump or dump it further?

(SOURCE: TradingView)

Aster CEO Says YZi Labs Has “No Intention to Cash Out” in Welcome Message to ASTER Holders

Aster CEO Leonard appeared in a video interview with @Mable_Jiang, in which he had a lot to say about YZi Labs’ involvement with the project, which may provide clues as to what the future holds for EDEN crypto.

“YZi Labs is indeed Aster’s only private investor, with a relatively low shareholding, but they have provided us with a lot of support,” Leonard said, before adding, “I cannot disclose the specific details of the investment agreement, but I can say that they do not have any intention to cash out. They are not in need of money, nor are they in a hurry to sell.

Later in the interview, Leonard said, “From TGE to now, our performance in the BNB ecosystem has already proved the project’s value. Even without a vesting schedule, YZi Labs has no incentive to dump the price. Additionally, the tokens they can obtain come from only a small portion of the 5% team allocation because they invested in equity, not the tokens themselves.”

BONUS: Pepenode (PEPENODE) Hits $1.5M in Funding With Almost 1Bn Tokens Staked

Pepenode (PEPENODE) is quickly becoming investors’ favourite presale for Q4 and the much anticipated ‘altcoin szn’. It has just secured $1.5M in ICO funding, which is impressive enough on its own. However, nearly 1 billion PEPENODE tokens have now been staked, as investors scramble to secure a slice of the incredible 849% APY on offer.

PEPENODE provides investors with numerous opportunities to generate rewards from the outset. Virtual mining, staking, and rising presale prices have all contributed to creating buzz and hype for the Pepenode project during its early ICO days. These three key components have led to more than $1.5 million in funding being raised in just a few weeks since going live.

The Pepenode team has enabled investors to build their own virtual meme coin mining rig by purchasing nodes, setting up their own server room, and even combining nodes for substantial bonuses.

This GameFi approach to a real-world application that is too costly for the average investor is a genius way to provide utility to the project while allowing early investors to maximize their income before the Pepenode token has even hit the exchanges.

$2M will likely be hit by the end of the week, which will put PEPENODE on track to hit the $5M funding level, and potentially beyond as the bull market continues to heat up now that Q4 is here.

At this stage of the presale, the PEPENODE token is worth $0.0010831 and is expected to continue rising steadily until the end of the presale.

Visit PEPENODE Here

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Alex Ioannou
Alex Ioannou
On-Chain Journalist

Alex is a seasoned cryptocurrency trader and market analyst with over seven years of active experience in the digital asset space. Since entering the markets in 2017, Alex has specialized in identifying emerging "meta" trends and high-volatility narratives. Notably, Alex... Read More

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