On August 9, 2024, at precisely 10:37 AM UTC, Wrapped Islamic Coin (WISLM) experienced a significant breakout, surging by 8.83% to reach a price of $0.067. This remarkable movement captured the attention of the crypto community and highlighted the potential of WISLM within the broader digital asset landscape. Wrapped Islamic Coin, a digital asset designed to bridge traditional Islamic finance with the decentralized world of cryptocurrency, has been making waves with its unique approach and strategic developments. On August 9, 2024, Wrapped Islamic Coin (WISLM) experienced a significant breakout, with its price surging by 8.83% to $0.067. This breakout can be attributed to several key factors that have bolstered the coin's market position and investor confidence. Let's delve into the reasons behind this impressive performance, integrating insights and visual evidence to provide a comprehensive understanding of WISLM's recent success.
New partnership with a major financial institution: The altcoin has partnered with FAMBRAS Halal, Latin America's leading Halal certification body, to establish GBHCOE and issue Halal certificates on the HAQQ Blockchain. This partnership has significantly increased WISLM's credibility and potential use cases, attracting more investors to the coin.
Integration with popular DeFi platforms: WISLM's integration with several popular DeFi platforms has allowed users to leverage its functionalities in various financial operations. This integration has expanded WISLM's usability and market reach, making it a more attractive investment.
Enhanced staking rewards program: The introduction of an enhanced staking rewards program has offered higher returns, attracting more investors to WISLM. This program has incentivized holding and staking the coin, contributing to its price surge.
Listing on additional major exchanges: WISLM's listing on new major exchanges, such as Changelly, has significantly increased its liquidity and accessibility. This listing has made it easier for users to buy, trade, and exchange WISLM, driving up its demand and price.
Launch of new decentralized application (dApp): The launch of a new decentralized application (dApp) on WISLM's network has expanded its ecosystem and utility. This dApp has provided additional use cases for the coin, further boosting its market appeal.
WISLM's recent breakout is a testament to its strategic developments and growing market presence. By bridging the gap between traditional Islamic finance and the decentralized world of cryptocurrency, WISLM has positioned itself as a promising player in the crypto ecosystem. As the coin continues to innovate and expand its reach, it will be interesting to see how it shapes the future of Shariacompliant digital assets. In summary, the recent breakout of Wrapped Islamic Coin (WISLM) is a testament to the project's strategic and technological advancements. Key factors contributing to this surge include new partnerships, DeFi integrations, enhanced staking rewards, and increased exchange listings. As WISLM continues to innovate and expand its ecosystem, it is crucial for investors to conduct thorough research (DYOR) to navigate the complexities of the cryptocurrency market effectively. The future looks promising for WISLM as it continues to bridge the gap between traditional Islamic finance and the decentralized world of cryptocurrency.
We have asked 18 Experty community members questions related to "News of Wrapped Islamic Coin (WISLM) - August 2024 Price Update - 8.83% Breakout Crypto News and Analysis". We have received many valuable replies, the best ones (based on Experty community feedback) you can read below.
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Explore the Core.
Islamic coin is the native currency of HAQQ, an ethics first, scalable and interoperable blockchain built on Proof-of-Stake with fast finality.
Spot the Main Event:
$ISLM Listing on changelly.com Users can now buy and trade $ISLM at lower fees and with convenient on-ramp solutions.Changelly has global coverage, allowing users to easily exchange $ISLM into fiat currencies and vice versa.
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Ajayi Johnweb developer
Explore the Core.
Wrapped Islamic Coin (WISLM): A Bridge Between Traditional Finance and Crypto Wrapped Islamic Coin (WISLM) is a digital asset designed to represent the value of an underlying Islamic financial asset. It aims to bridge the gap between traditional Islamic finance and the decentralized world of cryptocurrency. Key Problems WISLM is Solving Accessibility: Many individuals interested in Islamic finance might not have direct access to Islamic financial instruments. WISLM offers a way to participate in this market through digital assets. Transparency: By leveraging blockchain technology, WISLM can provide increased transparency and traceability in Islamic financial transactions. Efficiency: Traditional financial systems can be slow and bureaucratic. WISLM aims to streamline financial processes through the use of blockchain. Innovative Use Cases Islamic Asset Tokenization: By wrapping Islamic financial assets, WISLM enables fractional ownership and trading of these assets on decentralized exchanges. Shariah-Compliant DeFi: WISLM can be used to create Shariah-compliant decentralized financial applications, such as lending, borrowing, and investing platforms. Cross-Border Transactions: WISLM can facilitate faster and more efficient cross-border transactions, especially in regions with large Muslim populations. Islamic Microfinance: WISLM can be used to create microfinance platforms that cater to the needs of underserved Muslim communities.
Spot the Main Event:
#TheHaqqExpedition: Successful 12 sprints and over 130k $ISLM distributed so far. 🔥 Still in full swing and far from over, stay #OnHaqq! If you haven't participated yet, you're missing out on a lot of excitement and exclusive prizes.
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shuaibu abubakarA dedicated learner!
Explore the Core.
Building a cryptocurrency launched in 2023, with a current supply of over 20 billion tokens and a circulating supply of around 900 million. It's been experiencing some price fluctuations recently, as many cryptocurrencies do.
Spot the Main Event:
Introducing the HAQQ EXPEDITION that enables users to explore, engage and earn! According to them, successful 12 sprints and over 130k ISLM HAS BEEN DISTRIBUTED SO FAR.
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Oluwatosin BamideleTrade hard. Joy is coming
Explore the Core.
The native currency of the Haqq Network. Islamic coin is the native currency of HAQQ, an ethics first, scalable and interoperable blockchain built on Proof-of-Stake with fast finality.
Spot the Main Event:
$ISLM Listing on changelly.com Users can now buy and trade $ISLM at lower fees and with convenient on-ramp solutions.Changelly has global coverage, allowing users to easily exchange $ISLM into fiat currencies and vice versa. The new platform has offered some some sort of Incentives to their users to trade the token
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GLORIA OLUWAFERANMITo God be the Glory
Explore the Core.
Islamic coin is the native currency of HAQQ, an ethics first, scalable and interoperable blockchain built on Proof-of-Stake with fast finality.
Spot the Main Event:
$ISLM Listing on changelly.com Users can now buy and trade $ISLM at lower fees and with convenient on-ramp solutions. Offering more liquidity for the token. Changelly has global coverage, allowing users to easily exchange $ISLM into fiat currencies and vice versa.
📸 Show Us What You Found:
Ajayi OlusholaExplore the Core.
Islamic coin is the native currency of HAQQ, an ethics first, scalable and interoperable blockchain built on Proof-of-Stake with fast finality.
Spot the Main Event:
$ISLM Listing on changelly.com. community can now buy and trade $ISLM at lower fees and with convenient on-ramp solutions. Changelly has global coverage, allowing users to easily exchange $ISLM into fiat currencies and vice versa.
📸 Show Us What You Found:
Overview
Islamic Coin (ISLM) is the native currency of the HAQQ Network, an ethicsfirst, scalable, and interoperable blockchain built on ProofofStake with fast finality. The project aims to integrate Islamic finance principles into the decentralized world of cryptocurrency, setting itself apart by focusing on ethical and Shariacompliant financial solutions. The HAQQ Network's mission is to provide a transparent, efficient, and accessible financial ecosystem for the global Muslim community.
Key Features
ProofofStake Blockchain: Ensures scalability and fast transaction finality. Wrapped Islamic Coin (WISLM): Bridges traditional Islamic finance with decentralized finance (DeFi). Accessibility: Provides access to Islamic financial instruments via digital assets. Transparency: Enhances traceability in financial transactions. Efficiency: Streamlines financial processes. Use Cases: Islamic Asset Tokenization: Enables fractional ownership and trading on decentralized exchanges. ShariahCompliant DeFi: Facilitates lending, borrowing, and investing platforms adhering to Islamic principles. CrossBorder Transactions: Improves efficiency in regions with large Muslim populations. Islamic Microfinance: Supports underserved Muslim communities.
Recent Developments
Strategic Partnership with FAMBRAS Halal: Establishing GBHCOE to issue Halal certificates on the HAQQ Blockchain. Listing on Changelly: Users can now buy and trade ISLM with lower fees and convenient onramp solutions. Account Growth: Reached 4 million accounts in July 2023, with a 123.08% growth from April to July 2024. TheHaqqExpedition: Distributed over 130k ISLM through 12 successful sprints. Endorsement from MUI: Received support from KH Anwar Iskandar, Chairman of MUI, affirming the project's commitment to the global Ummah.
Market Impact
Increased Accessibility: Partnerships and listings on major platforms like Changelly enhance user adoption. Growing User Base: Rapid account growth indicates strong market presence and potential for future expansion. ShariahCompliant Solutions: Unique positioning in the market attracts a niche audience interested in ethical finance. Higher Trading Volumes: Growing interest in WISLM and ISLM could lead to increased trading activity.
Risks and Opportunities
Challenges: Regulatory Compliance: Navigating the evolving regulatory landscape for Shariacompliant assets. Market Volatility: Price fluctuations common in the cryptocurrency market. Opportunities: Innovative DeFi Products: Potential to lead in the Shariahcompliant DeFi space. Strategic Partnerships: Collaborations with Islamic financial institutions can expand reach and adoption. Community Support: Strong community engagement can drive sustained growth.
Community Engagement
Active Community: Vibrant and engaged community across platforms like Telegram, Discord, and Twitter. Community Events: Regular meetups, contests, and giveaways to maintain high activity levels. Strategic Communication: Frequent updates and transparent communication strategies to keep the community informed.
Conclusion
Islamic Coin (ISLM) and the HAQQ Network present a compelling investment opportunity by integrating Islamic finance principles into the decentralized finance space. The project's unique value proposition, strategic partnerships, and rapid user growth position it well for future expansion. Traders should consider the project's innovative approach, market position, and strong community support when making investment decisions. The focus on ethical finance and Shariacompliant solutions sets it apart in the crowded cryptocurrency market, making it a potentially attractive choice for those seeking both financial returns and ethical investment options.
This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.