Current DEGEN Price and Key Metrics
The current live price of DEGEN is $0.0030310. Over the past 24 hours, the token has shown positive momentum with an increase of +3.06%. Let's break down some of the key on-chain metrics and statistics that are crucial for understanding its market position.
- Circulating Supply: 22,716,608,242 DEGEN
- Maximum Supply: 36,965,935,954 DEGEN
- Circulating Percentage: 61.45% of the total max supply
- Fully Diluted Market Cap: Approximately $68.74 million
- Market Cap Ranking: Holds the #202 position among all cryptocurrencies.
These figures provide a snapshot of the token's economic model and its current scale within the broader digital asset market.
Historical Price Performance
Analyzing historical price extremes offers insight into its volatility and potential for growth.
- All-Time High (ATH): $0.036491. The current price is down approximately -91.70% from this peak.
- All-Time Low (ATL): $0.0018240. The current price represents a significant gain of +66.17% from its lowest point.
These metrics are updated regularly to reflect the most accurate market data.
The Degen Ecosystem and Use Case
DEGEN is more than just a tradable asset; it's the cornerstone of a vibrant web3 community. It started as a reward token for active users on Farcaster, a decentralized social media protocol. Its unique "tip allowance" mechanism allows community members to reward each other for high-quality content and engagement, fostering a powerful internal economy.
Beyond tipping, DEGEN powers its own dedicated blockchain, the Degen Chain. This is a pioneering Layer 3 (L3) solution built on Base (which is itself a Layer 2 on Ethereum). The Degen Chain is specifically designed to be a low-cost, high-speed environment for developing and using "Degen apps" – applications tailored for the degens and builders within this ecosystem.
For those looking to explore the possibilities within this innovative L3 landscape, you can discover more about on-chain ecosystems here.
How to Convert USD to DEGEN
For investors interested in acquiring DEGEN, the process typically involves using a cryptocurrency exchange. You can convert fiat currencies like USD into DEGEN through a secure trading platform. The conversion rate fluctuates based on the live market price, so it's always wise to check the latest figures before executing a trade.
Monitoring DEGEN Price Charts
Staying informed requires access to real-time charts and data. Price charts visualize the token's performance over different timeframes (e.g., 24 hours, 1 week, 3 months), helping traders identify trends, support and resistance levels, and trading volume. A strong analysis foundation is key for any market participant.
Frequently Asked Questions
What is the DEGEN token used for?
DEGEN is primarily a community rewards token used for tipping content creators on Farcaster. It also serves as the native gas token for the Degen Chain, an L3 blockchain where it is used to pay for transaction fees and interact with various decentralized applications.
How do I buy DEGEN tokens?
You can purchase DEGEN on several centralized and decentralized cryptocurrency exchanges. The process usually involves creating an account on a supported platform, depositing funds (like USD or another cryptocurrency), and then trading it for DEGEN at the current market rate.
What is the difference between circulating supply and max supply?
Circulating supply refers to the number of tokens that are currently publicly available and circulating in the market. Max supply is the absolute maximum number of tokens that will ever be created. The ratio between the two can influence the token's inflation rate and valuation.
Is DEGEN a good investment?
Like all cryptocurrencies, DEGEN carries significant investment risk. Its value is highly volatile and can change rapidly. Its unique value proposition is tied to the health and growth of the Farcaster and Degen Chain ecosystems. Thorough personal research and an understanding of your risk tolerance are essential.
What is an L3 blockchain like Degen Chain?
A Layer 3 (L3) blockchain is built on top of a Layer 2 (L2) solution. It further enhances scalability and allows for custom, application-specific governance and features. Degen Chain leverages Base's security while offering ultra-low transaction fees for its community.
Where can I learn more about the technical details of DEGEN?
For deep technical information, developers often refer to the project's GitHub repository and block explorers. These resources provide transparency into the token's contract code and allow users to verify transactions on the blockchain. To access advanced trading tools and charts, many traders use comprehensive exchange platforms.
Note: The content on this page is for informational purposes only and does not constitute investment advice. Digital asset prices are highly volatile and you should always conduct your own research and consult with a qualified professional before making any financial decisions.