Degen Price

(DEGEN)
USD($)
Degen (DEGEN) Live Price Chart

Degen Live Price Data

The live price of Degen is $0.02153, with a total trading volume of $ 490,646 in the last 24 hours. The price of Degen changed by -4.17% in the past day, and its USD value has increased by +25.36% over the last week. With a circulating supply of 14.18B DEGEN, the market cap of Degen is currently 309.46M USD, marking a --% increase today. Degen currently ranks #-- in market cap.
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Note: This data is for reference only.
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Degen(DEGEN) Profile

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Website
Documentation
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Explorer
Contract
Base 0x4ed4e8...fed
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$0.02117
$0.02396
$0.06458
-0.78%
-4.17%
+25.36%
$309.46M 
$55,974 
14.18B
36.97B

About DEGEN

How can I buy Degen (DEGEN)?

Buying DEGEN on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy Degen (DEGEN) for more information.

What Is Degen (DEGEN) Crypto?

Degen (DEGEN) is a cryptocurrency that operates on the Degen Chain, a layer-3 blockchain tailored specifically for its community. It is built on top of the Base network, an Ethereum layer-2 scaling solution. DEGEN was launched as an ERC-20 token and is used within the Farcaster ecosystem to reward users for posting quality content, thus turning online contributions into real-world value​.

The Degen Chain aims to provide an ultra-low-cost, scalable environment for applications such as payments, gaming, and community rewards, with the DEGEN token serving as the native gas token for transactions within the chain. This setup allows for various innovative uses, including tipping and rewards, which foster a vibrant community ecosystem.

This blockchain has shown significant activity and growth, as evidenced by its transaction volumes reaching nearly $100 million in just 24 hours of operation, highlighting its quick adoption and the creation of thousands of contracts and tokens. However, it also reflects the speculative and risky nature of new crypto landscapes​.

The Degen Chain is a community-focused platform supporting decentralized applications (dApps) and is part of a broader movement towards layer-3 solutions designed to enhance blockchain scalability and efficiency​.

How Does Degen Chain Work?

Degen Chain operates as a layer-3 blockchain built on top of the Base network, a layer-2 scaling solution for Ethereum. The architecture is designed to provide a specialized, low-cost, and scalable environment for Degen's community-focused applications. Here’s a breakdown of how it works:

Technical Structure of Degen Chain

Degen Chain uses Arbitrum Orbit for rollups, Base for transaction settlements, and Arbitrum AnyTrust for data availability, which ensures low transaction costs and scalability. This setup allows Degen Chain to support a wide range of community-driven applications, including payments, gaming, and social interactions.

DEGEN Token

The native token of the Degen Chain, DEGEN, is used as the gas token, which means it is required to perform transactions on the network. The token was launched to facilitate interactions within the Farcaster ecosystem, allowing users to reward each other for quality content, fostering a vibrant community.

Applications and Use Cases for Degen L3

The network hosts applications like DegenSwap, a decentralized exchange that is a central component of the chain's ecosystem, facilitating the trading and swapping of various cryptocurrencies. This supports the ecosystem’s liquidity and user engagement.

Degen Community and Ecosystem Growth

DEGEN tokenomics are designed to support long-term sustainability and community engagement, with a significant portion of the total supply allocated to the community through mechanisms like airdrops and liquidity mining.

Safety and Performance

Despite its recent launch, Degen Chain has rapidly gained traction, showing substantial on-chain activity and growth in user accounts. However, the newness of layer-3 technologies like Degen Chain suggests that users should proceed with caution due to their experimental nature.

When Was Degen (DEGEN) Coin Launched?

The Degen Chain and the DEGEN token were both launched in early 2024. Specifically, the DEGEN token was introduced in January 2024, and it plays a crucial role within the Farcaster ecosystem by enabling users to reward each other for posting quality content.

This setup aims to bridge online interactions with tangible value. Shortly after, the Degen Chain, a layer-3 blockchain built on top of the Base network using Arbitrum Orbit for rollups and AnyTrust for data availability, was officially launched on March 28, 2024. This chain was designed specifically for the DEGEN token and its community, facilitating various applications, including payments and gaming​.

How to Use DEGEN Token

The DEGEN token, which is the native currency of the Degen Chain, serves several important functions within its ecosystem:

Gas Token of Degen Chain

DEGEN is used as the gas token on the Degen Chain, meaning it is required to perform transactions such as executing smart contracts and moving tokens. This is similar to how Ether is used on the Ethereum network.

Community Rewards and Tipping

Within the Farcaster ecosystem, DEGEN is used to reward users for contributing high-quality content. This incentivizes active participation and engagement by allowing users to earn DEGEN tokens for posts and comments that are well-received by the community​.

Liquidity and Trading

DEGEN is used within the ecosystem’s DEX, DegenSwap, for trading and providing liquidity. This not only facilitates the swapping of various cryptocurrencies but also supports the overall liquidity and market activity on the Degen Chain.

Trade DEGEN on KuCoin

Trade Degen Chain token on the KuCoin Spot Market to make the most of changing market conditions and volatility. Buy or sell $DEGEN or HODL if you believe in the future potential of Degen L3 and the Base ecosystem. Remember to do your own research (DYOR) before trading cryptos in the market.

Degen (DEGEN) Price Movements ($)
PeriodChangeChange (%)
Today$-0.00094-4.18%
7 Days$0.0046427.08%
30 Days$-0.00998-31.38%
3 Months$0.001819.10%
24H Investment Barometer
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The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
Risk warning:Please note that the Investment Barometer is provided for informational purposes only and is not an investment advice. Investing carries risk. Please make investment decisions cautiously and based on your own judgement.
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Degen Conversion Rate
  • 1 DEGEN to USD$0.02153923
  • 1 DEGEN to EUR€0.01989188
  • 1 DEGEN to AUD$0.03251734
  • 1 DEGEN to KRW₩29.42
  • 1 DEGEN to JPY¥3.37
  • 1 DEGEN to GBP£0.01692929
  • 1 DEGEN to INR₨1.79
  • 1 DEGEN to IDRRp345.48
  • 1 DEGEN to CAD$0.02948031
  • 1 DEGEN to RUB₽1.94

FAQ

How much is 1 Degen (DEGEN) worth?
KuCoin provides real-time USD price updates for Degen (DEGEN). Degen price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time DEGEN to USD exchange rates.
Is Degen (DEGEN) a Good Investment?

Investing in Degen Chain (DEGEN) may offer several potential advantages, particularly for those interested in the intersection of social media and cryptocurrency:

Degen Community Engagement and Utility

$DEGEN is deeply integrated into the Farcaster ecosystem, where it is used to reward quality content and engage users. This utilization could potentially increase the intrinsic value of DEGEN as the platform grows and becomes more active​.

Innovative Technology of Degen Chain L3

Degen Chain operates as a layer-3 blockchain built on the Arbitrum Orbit technology, leveraging the Base network for settlement. This advanced technical foundation might provide enhanced scalability, lower transaction costs, and faster speeds, making it an attractive platform for developers and users alike​.

Growth Potential of Degen and Base Ecosystems

DEGEN presents significant growth potential, given its relatively recent launch and integration into a novel social media context. As the network expands and more applications are developed on the Degen Chain, the demand and value of DEGEN could increase.

Early Adoption Opportunities

Investors interested in early-stage blockchain projects might find Degen Chain appealing due to its newness and potential for rapid expansion within the niche of social media-driven cryptocurrencies.

Degen Ecosystem Development Initiatives

The tokenomics of DEGEN include incentives for liquidity provision, staking, and participation in governance, which could offer additional benefits to long-term holders and active participants in the network​.

What Is Degen Price Prediction?

Although the volatile nature of the crypto market makes it challenging to provide a reliable DEGEN crypto price prediction over any timeframe, you could observe the following factors to gain a better understanding of the price changes in Degen cryptocurrency:

Degen Community Engagement and Ecosystem Growth

DEGEN's utility as a reward for community engagement on Farcaster can drive its demand. As more users join and participate in the ecosystem and as more applications that utilize DEGEN are developed, the demand for the token may increase, potentially boosting the $DEGEN price​.

DEGEN Tokenomics and Supply Distribution

The distribution of DEGEN tokens through airdrops and liquidity mining also impacts the DEGEN to USD price. Significant portions of DEGEN's total supply are allocated to community incentives, which can influence both the circulating supply and the DEGEN price. Scheduled airdrops and the distribution strategy can create price volatility depending on how these tokens enter the market​.

Speculative Trading and Market Sentiment

Like many cryptocurrencies, the DEGEN crypto price is also affected by speculative trading and the overall sentiment in the crypto market. Fluctuations in the broader market can lead to similar movements in DEGEN's price, reflecting broader investor sentiment and macroeconomic factors​.

Future Developments in the Degen Chain Roadmap

Technological advancements on the Degen Chain, such as updates that improve transaction efficiency or enhance the chain's capabilities, could positively influence the DEGEN token price. The chain's launch and subsequent updates can act as catalysts for price movements​.

Level of Adoption and Usage of Degen Chain

The extent to which DEGEN is adopted for transactions, tipping, and other utilities within the Degen ecosystem influences demand. Increased adoption by users and developers who build apps that leverage DEGEN can drive up the DEGEN coin price​.

How to Earn DEGEN Crypto

To earn DEGEN tokens on the Degen Chain, you can participate in several activities within the Farcaster ecosystem, where DEGEN serves as a significant element of social and economic interaction:

Receiving Tips on Farcaster

You can earn DEGEN tokens by receiving tips from other users on Farcaster. This involves active participation and engagement on the platform, where other community members can reward your contributions​.

Liquidity Mining

Another way to earn DEGEN is through liquidity mining. This involves providing liquidity to specific DEGEN pools, like the DEGEN/WETH pool, on decentralized exchanges such as Uniswap. By contributing to these pools, you can earn rewards using DEGEN tokens​.

DEGEN Airdrops

Periodically, DEGEN tokens are distributed to active community members through airdrops. Participation in community activities and maintaining engagement on platforms like Farcaster can make you eligible for these airdrops​.

Creating Content and Engaging on Farcaster

As DEGEN is heavily integrated within the Farcaster ecosystem, actively posting, commenting, and engaging with other users can lead to earning DEGEN tokens through community-driven rewards systems​.

How to Participate in DEGEN Airdrop

To participate in the $DEGEN airdrop on the Degen Chain, you must be actively involved in the Farcaster social platform, which is closely integrated with the Degen Chain ecosystem. Here are the main steps to qualify and participate in the airdrop:

1. Active Participation in Farcaster

Engage with the community by posting content, commenting, and interacting with other users' posts. The more you engage, the more you will likely receive tips from other users.

2. Receiving Tips From Other Farcaster Users

Earn DEGEN by receiving tips from other users. These tips count as points that can qualify you for the airdrop. Maintain an active presence and contribute valuable content to increase your chances of receiving tips.

3. Connecting and Setting Up Your Wallet

Connect your crypto wallet to the Farcaster platform. You must ensure that your wallet has a minimum balance of 10,000 DEGEN tokens and that you've made at least three posts (casts) on Farcaster.

4. Claiming Your DEGEN Airdrop

Once you've accumulated enough points through tips, you can claim your airdrop rewards directly on the Degen website by connecting your wallet.

Remember, there are seasons and specific periods when these airdrops are active, and you'll need to follow the specific instructions provided for each season to qualify and claim your rewards. Additionally, a leaderboard system tracks the most active and rewarded users, which can also influence your potential airdrop earnings.

What is the all-time high price of Degen (DEGEN)?
The all-time high price of Degen (DEGEN) is $0.06458. The current price of DEGEN is down 0.67% from its all-time high.
What is the all-time low price of Degen (DEGEN)?
The all-time low price of Degen (DEGEN) is $0.01316. The current price of DEGEN is up 0.64% from its all-time low.
How much Degen (DEGEN) is there in circulation?
As of 5 23, 2024, there is currently 14.18B DEGEN in circulation. DEGEN has a maximum supply of 36.97B.
What is the market cap of Degen (DEGEN)?
The current market cap of DEGEN is $309.46M. It is calculated by multiplying the current supply of DEGEN by its real-time market price of $309.46M.
How do I store Degen (DEGEN)?
You can securely store your Degen in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your DEGEN include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
Fear & Greed Index
Note: Data is for reference only.
Extreme greed86
DEGEN
Estimated
-- USD
DEGEN/USDT1
$0.02153-4.17%