On August 15, 2024, at precisely 15:17 UTC, SuperRare (RARE) experienced a notable price breakout, surging by 7.30% to reach $0.1042. This breakout is particularly significant given SuperRare's role as a leading curated marketplace for onchain art, boasting over $300 million in total sales and $180 million earned by artists. The platform's unique focus on perpetual artist royalties and its governance through the RareDAO have positioned it as a pivotal player in the decentralized art market. This article delves into the key factors driving this price movement and what it means for the future of SuperRare and its community. The recent breakout of SuperRare (RARE) on August 15, 2024, saw a significant gain of 7.30%, pushing the price to $0.1042. This surge can be attributed to several key factors, each contributing uniquely to the heightened interest and activity around the RARE token. Let's delve into these reasons, supported by visual evidence to provide a comprehensive understanding of this breakout.
First and foremost, the increased minting of SuperRare NFTs has played a crucial role. The platform has seen a significant rise in the number of NFTs being minted, indicating a surge in user interest and activity. This uptick in minting not only reflects the growing popularity of SuperRare but also suggests a robust and active community of artists and collectors.
Increased minting of SuperRare NFTs: SuperRare NFTs have seen a significant increase in minting, indicating a surge in user interest and activity on the platform.
Another pivotal factor is the announcement that the future of RARE and the power of curation will be handed over to the community. This move towards decentralization has sparked positive sentiment among investors and users, as it empowers the community and aligns with the ethos of decentralized governance.
Community control over future of RARE: The team announced that they will be putting the future of RARE and the power of curation into the hands of their community, sparking positive sentiment.
Additionally, the listing of SuperRare on Binance with leverage support has been a gamechanger. Binance's announcement that RARE will be supported with up to 50x leverage in leveraged trading has significantly boosted the token's visibility and accessibility. This listing not only provides more trading options for users but also enhances the liquidity and market reach of RARE.
Binance listing and leverage support: Binance announced that SuperRare (RARE) will be supported with up to 50x leverage in leveraged trading, with the RARE/USDT pair starting on August 8 at 16:00.
Lastly, a comprehensive discussion on $RARE developments has further engaged the community. Key figures within the SuperRare ecosystem have been actively discussing distinctions, season recaps, highlights, and future plans. These discussions have kept the community informed and excited about the ongoing and upcoming developments within the SuperRare ecosystem.
Discussion on $RARE developments: A comprehensive discussion on $RARE with key figures covered distinctions, season recaps, highlights, and future plans, engaging the community.
In conclusion, the breakout of SuperRare (RARE) can be attributed to a combination of increased minting activity, community empowerment, strategic platform integrations, and active engagement with the community. Each of these factors has contributed to the heightened interest and positive sentiment around RARE, leading to its impressive price surge. In conclusion, the recent 7.30% price breakout of SuperRare (RARE) can be attributed to several strategic and technological developments. Increased minting of SuperRare NFTs, the announcement of community control over the future of RARE, Binance's support for leveraged trading, and engaging discussions on the platform's future have all contributed to this positive market sentiment. As always, it is crucial for investors to conduct thorough research (DYOR) to navigate the complexities of the cryptocurrency market effectively. SuperRare's continuous innovation and communitydriven approach highlight its potential to shape the future of digital art and NFTs.
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To God be the Glory
Explore the Core.
SuperRare is the leading curated marketplace for onchain art with more than US$300M in total sales and US$180M earned by artists. As one of the earliest champions of perpetual artist royalties, SuperRare is working to improve discovery while decentralising the art market. Core to SuperRare is $RARE, a token offering utility as a currency on the marketplace, a staking based reputation system, and DAO governance rights. SuperRare is governed by $RARE token holders through RareDAO and sits atop Rare Protocol, an ecosystem focused on unifying the currently fragmented NFT landscape to supercharge the industry’s ability to revolutionise the economics of human creativity through onchain innovation.
Spot the Main Event:
According to the announcement by Binance, SuperRare (RARE) will be supported with up to 50x leverage in leveraged trading and will be listed. The announcement stated that the pair for RARE/USDT, trading will also start on August 8 but at 16:00.
📸 Show Us What You Found:
Oluwatosin BamideleTrade hard. Joy is coming
Explore the Core.
SuperRare is the leading curated marketplace for onchain art with more than US$300M in total sales and US$180M earned by artists. As one of the earliest champions of perpetual artist royalties, SuperRare is working to improve discovery while decentralising the art market. Core to SuperRare is $RARE, a token offering utility as a currency on the marketplace, a staking based reputation system, and DAO governance rights. SuperRare is governed by $RARE token holders through RareDAO and sits atop Rare Protocol, an ecosystem focused on unifying the currently fragmented NFT landscape to supercharge the industry’s ability to revolutionise the economics of human creativity through onchain innovation.
Spot the Main Event:
According to the announcement by Binance, SuperRare (RARE) will be supported with up to 50x leverage in leveraged trading and will be listed. The announcement stated that the pair for RARE/USDT, trading.
📸 Show Us What You Found:
OLUWATOSIN GARUBAExplore the Core.
SuperRare is the leading curated marketplace for onchain art with more than US$300M in total sales and US$180M earned by artists. As one of the earliest champions of perpetual artist royalties, SuperRare is working to improve discovery while decentralising the art market. Core to SuperRare is $RARE, a token offering utility as a currency on the marketplace, a staking based reputation system, and DAO governance rights. SuperRare is governed by $RARE token holders through RareDAO and sits atop Rare Protocol, an ecosystem focused on unifying the currently fragmented NFT landscape to supercharge the industry’s ability to revolutionise the economics of human creativity through onchain innovation.
Spot the Main Event:
According to the announcement by Binance, SuperRare (RARE) will be supported with up to 50x leverage in leveraged trading and will be listed. The announcement stated that the pair for RARE/USDT, trading.
📸 Show Us What You Found:
Overview
SuperRare is a leading curated marketplace for onchain art, boasting over US$300M in total sales and US$180M earned by artists. The platform aims to decentralize the art market and improve discovery through its unique value proposition of perpetual artist royalties. SuperRare stands out by integrating a stakingbased reputation system and DAO governance via its native token, $RARE.
Key Features
Curated NFT Marketplace: Focuses on exclusive digital artwork, ensuring high rarity through a selective approval process. $RARE Token: Functions as a currency on the marketplace, facilitates staking for reputation, and grants DAO governance rights. Rare Protocol: Aims to unify the fragmented NFT landscape, enhancing the economics of human creativity through onchain innovation. Decentralized Governance: Managed by $RARE token holders through RareDAO, allowing communitydriven decisionmaking. Layer 2 Integration: Upcoming deployment on @base for improved auction mechanics and lowcost mints.
Use Cases
Artist Support: Enables artists to mint and sell unique NFTs, ensuring perpetual royalties. Collector Engagement: Allows collectors to own, display, and trade tokenized artworks. Community Governance: $RARE token holders participate in governance and decisionmaking processes.
Recent Developments
Binance Listing: $RARE token recently listed on Binance, including leveraged trading options up to 50x. Expansion into Bitcoin Ordinals: Diversifying the platform's reach and capabilities. $9M Investment: Secured funding to accelerate growth and development. RarePass Genesis Artists Collection: Launched to enhance artist and collector engagement. Layer 2 Deployment: Upcoming integration with @base for improved scalability and costefficiency.
Market Impact
Increased Visibility: Binance listing and leveraged trading options enhance market presence and liquidity. Broader Adoption: Expansion into Bitcoin Ordinals and Layer 2 solutions may attract a wider user base. Enhanced Artist Revenue: Perpetual royalties and new funding can drive more artists to the platform, increasing overall activity and sales.
Risks and Opportunities
Risks
Market Volatility: Price fluctuations of $RARE token could impact user confidence and platform stability. Technical Challenges: Potential issues with Layer 2 integration and protocol upgrades. Security Concerns: As with any blockchain project, security breaches could pose significant risks.
Opportunities
Growth Potential: New funding and technological advancements position SuperRare for substantial growth. CommunityDriven Innovation: DAO governance and community proposals can lead to innovative platform improvements. Market Leadership: Continued focus on artist royalties and curated art can solidify SuperRare's position as a market leader.
Community Engagement
Active Community: Engaged user base participating in governance and decisionmaking. Community Treasury: Managed by $RARE token holders, funding platform improvements and initiatives. Social Media Presence: Regular updates and discussions on platforms like Twitter and Farcaster.
Conclusion
SuperRare presents a compelling investment opportunity with its unique focus on curated digital art, perpetual artist royalties, and decentralized governance. Recent developments, including the Binance listing and Layer 2 integration, enhance its market position and growth potential. However, traders should consider market volatility and technical risks. Overall, SuperRare's innovative approach and strong community support make it a noteworthy contender in the NFT space.
This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.