TOWNS (Towns) fell 5.89% in the last 24 hours

Gate News Bot message, August 8, according to CoinMarketCap data, as of the time of writing, TOWNS (Towns) is currently priced at 0.03 USD, down 5.89% in the last 24 hours, with a high of 0.09 USD and a low of 0.03 USD. The current market capitalization is approximately 67.78 million USD, a decrease of 4.2426 million USD compared to yesterday.

Towns Protocol is a protocol focused on blockchain communication, aimed at allowing users to create, develop, and own their own digital squares. The protocol offers features such as end-to-end encryption, decentralized messaging, programmable spaces, and ownable communication. Towns Protocol has created 391,400 spaces, has 1,492,700 memberships, and generated 7,921 ETH in revenue. The protocol supports the building of value-added communities, allows for the sale of exclusive group chat access, and ensures that memberships are immutable on-chain.

Important news about TOWNS recently:

1️⃣ Gate has launched multiple TOWNS trading features

Gate launched TOWNS perpetual contract trading on August 5th at 22:40 (UTC+8), supporting USDT settlement and providing 1-20x leverage. At the same time, it opened TOWNS unified account lending, isolated margin trading pairs, residual coin wealth management, flexible mortgage lending, and fixed mortgage lending functions. After the TOWNS spot market was launched for 1 hour, the swap and dollar-cost averaging functions were also opened. The introduction of these new features increases the liquidity and trading options for TOWNS, but may also bring greater price volatility.

2️⃣ TOWNS airdrop claiming encountered technical issues

On August 5th, the Towns Protocol officially reported that some eligible wallets are temporarily unable to view the airdrop claim entry due to a display error. The official emphasized that the eligibility of users who have passed the qualification check remains valid, and they are actively working to fix the issue. This technical problem may affect the short-term trading behavior of some users, leading to market sentiment fluctuations.

3️⃣ NFT holders gain eligibility for TOWNS airdrop

On August 5th, the NFT project Moonbirds announced that holders of Moonbirds, Mythic, and Oddity who bind their Towns Wallets before the snapshot will receive a TOWNS airdrop. The airdrop inquiry address is the Towns Wallets address bound to the NFT holding address. This initiative may attract more NFT enthusiasts to pay attention to the TOWNS project, potentially increasing the project's user base and visibility.

The price of TOWNS has recently shown a downward trend, narrowing from a 52.54% drop on August 6 to a 5.89% drop on August 8, indicating that market volatility is gradually weakening. However, new trading features and airdrop-related events may still continue to influence short-term price movements. On the technical side, the price of TOWNS has retreated from a high of $0.09 to $0.03, which may be close to the short-term support level.

This message is not intended as investment advice; investors should pay attention to market volatility risks.