People Are Selling Digital Socks for $92,000 on Ethereum’s Uniswap

If you decide to get involved in Unisocks investing, you will also need to understand the Unisocks project’s white paper, team background, tokenomics, and the overall market environment. Uniswap launched 500 SOCKS tokens on Ethereum, what is unisocks and promised buyers that they could “burn” a token in exchange for the physical socks. The total circulating supply of Unisocks as of writing this article was $298.99 and the marketcap of SOCKS remains at $10,613,508.

what is unisocks also demonstrates an impressive trading volume. It is almost every day one of the top 20 exchanges with the highest trading volume. The top 10 trading pairs on in terms of trading volume usually have USDT as one part of the pair. So, to summarize the foregoing,’s vast number of trading pairs and its extraordinary liquidity are both very impressive aspects of this exchange.

Because of the very nature of the wallets in exchanges, they will be always online(“Hot Wallets” as we call them), therefore exposing certain aspects of vulnerabilities. A paper wallet is a type of free cold wallet, it’s basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe. However, it is not durable and is susceptible to various hazards. SOCKS has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. As per the Unisocks price prediction undefined model above, SOCKS’s price for undefined should range between $undefined to $undefined with the average price for undefined being $undefined.

SOCKS as ERC20 Tokens

We work with a licensed EU payment provider to handle the processing. Click here to view Unisocks price in different crypto exchanges. It has a circulating supply of 302 SOCKS tokens and a max supply of 315. We’ll see whether PleasrHouse ultimately sells enough NFTs to burn both digital SOCKS and physical Unisocks on Wednesday night. In any case, the campaign may turn newer generations of Web3 users onto the influential and high-value Unisocks, which predate more recent apparel brand moves and tokenized fashion drops by years. Once your wallet is setup, you can login to your binance account and proceed to the Buy & Sell crypto webpage to buy the Ethereum.

what is unisocks

Uniswap distributed 1000 UNI to each address that previously redeemed or held a SOCKS token at the snapshot date. Unisocks Market Cap is at a current level of 867.47M, down from 878.97M yesterday. You should not expect to get rich with Unisocks or any other new technology. It is always important to be on your guard when something sounds too good to be true or goes against basic economic principles.

Instead of selling SOCKS at a fixed price and allowing the secondary market to determine their value, Uniswap chose to utilize a bonding curve for a dynamic pricing mechanism. In short, bonding curves allow for a token’s price to be a function of its supply. Every time a token is bought, the following tokens’ price increases at a rate specified by the curve. The crypto market is known to be highly volatile, predicting future price points of Unisocks is a difficult task and many other factors influence the price. As a result, the predictions on our website should not be taken as financial advice and you should do your own research.

Unisocks Explained

Uniswap created an initial liquidity pool of 500 SOCKS and 35 ETH to facilitate trading; however, anyone can make a pool with SOCKS. Users have already made alternative Uniswap pools, including DAI/SOCKS and USDC/SOCKS. Because of the permissionless nature of DeFi, anyone can take it a step further and use SOCKS across other DeFi protocols.

Unisocks used a similar pool concept in which they built a Pool of 35 Ethereum Paired with the 500 SOCKS token. Any user who is interested to purchase SOCKS tokens from the eth can use that pool. Issued by Uniswap in 2019, SOCKS tokens are backed by physical, limited-edition pairs of socks. The price of Unisocks tokens has reached an all-time high of over $92,000. Because SOCKS are ERC-20 tokens, they can be used like any other ERC-20 token on Ethereum.

  • The main ways to get involved in Unisocks investing are by participating in Spot trading or pledging to earn interest.
  • The global crypto market cap is $1.19 trillion with a 24-hour volume of $32.42 billion.
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  • There are several DEXs to choose from; you just have to make sure the wallet you selected in Step 2 is supported by the exchange.

The price of Ethereum is $1,876.95 and ETH market dominance is 19.1%. The best performing cryptoasset sector is Cannabis, which gained 15%. The goal of the token wasn’t just to get people to purchase a pair of outlandishly priced socks, but rather follow a sale pattern known as a bonding curve. That basically means that each pair of SOCKS sold increases the price of the next one. This — along with the new “automated market maker mechanism” that Uniswap uses — was meant to be something of a proof of concept for how such a marketplace could work. “500 pairs of digital socks have a market cap of $20 million.

Unisocks (SOCKS) Price Now

An overview showing the statistics of Unisocks Edition 0, such as the base and quote currency, the rank, and trading volume. Use the calculator to convert real-time prices between all available cryptocurrencies and fiat. Please also note that data relating to the above-mentioned cryptocurrency presented here are based on third party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under Binance’s control.

what is unisocks

This list only includes the top market cap coins with a 24H volume of at least $50,000. Manage your Unisocks, Ethereum, XRP, Litecoin, XLM and over 300 other coins and tokens. Any data,text or other content on this page is provided as general market information and not as investment advice. DeFi and NFT history,” Eberle said, adding that it used a “simple but elegant model” that tied together multiple tokens and physical apparel.

In order for you to use this website in any manner, please read our disclaimer/disclosure page and privacy policy. Sending coins from AW is super easy, safe and with no extra fees or limitations. I love that I can almost do anything in AW I can purchase and exchange Crypto very easily, very user friendly. Sort your crypto assets by their amount and value to take control of your portfolio.

Today, Unisocks is currently trading at $34,137.54 with a total market cap of $10,308,687. Considering the adoption of SOCKS by countries around the world, Unisocks can claim a maximum price of $197,997.71 by 2027 with an average price of $187,756.45 expected. Furthermore, the minimum price for the same year could see $177,515.19.

A Historical look at Unisocks, SOCKS’s price:

You are about to leave CryptoSlate in order to visit a cryptocurrency or ICO website. This link is provided solely for informational purposes and is not an endorsement in any way. We recommend that you exercise extreme caution and consult a registered investment advisor before taking any action. The company said that the acquisition of Genie, the first NFT marketplace aggregator, will enable it to integrate NFTs into its own products and enable users to buy and sell NFTs through Uniswap. The very first SOCKS token was listed for $12, but the price of each subsequent sale has been increasing according to a dynamic curve since then. When Uniswap released their governance token UNI, they even allocated 220,000 UNI to SOCKS holders and redeemers.

You can buy Unisocks on any exchange or via p2p transfer. And the best way to trade Unisocks is through a 3commas bot. Investing is speculative and when you invest money, your entire capital is at risk.

Unisocks (SOCKS) Return On Investment(ROI)

While we provide one of the most accurate predictions for SOCKS on the market, they should never be taken as financial advice. AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions. The global crypto market cap is $1.19 trillion with a 24-hour volume of $32.42 billion. The price of Bitcoin is $28,859.65 and BTC market dominance is 47.1%.

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