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Remember Gamestop? This $300 Billion Memestock Leaves It Miles Behind

Remember GameStop saga or AMC mania? If yes, then here is another meme stock soaring in the market nowadays.

Hong Kong-based fintech company AMTD Digital (HKD), which recently got listed on NYSE at the issue price of $7.8 on July 15, hit the record peak price of $2,555. After hitting the price mark 32,600 per cent from its issue price, it started to drop steeply. At the time of writing the article, the share price dropped to $700. The market cap of the company surged above $450 billion at the peak price.

AMTD Digital has very low float and is also tightly controlled by the parent company AMTD Idea. AMTD Digital was the most-mentioned stock on Reddit. The huge popularity of the stock on the internet and other factors could have been the reason for skyrocketing of its price. The unreasonable rise in the price of the stock and its popularity is quite similar to GameStop and AMC saga.

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More About the AMTD Digital Company

AMTD Digital is a fintech company operating in digital solutions business. It is based out of Hong Kong and serves clients in Asia primarily. The digital services offered by the company include digital financial services, digital media, content and marketing, SpiderNet ecosystem solutions, and digital investments.

According to the regulatory filings by the company, AMTD Digital made revenue of approximately $25 Million in the year 2021. The revenue earned is primarily from fees and commissions.

GameStop was the stock that kicked off this whole meme stock frenzy. As per Investopedia, the meaning of ‘meme stock’ is that it refers to the shares of a company that have gained a cult-like following online and through social media platforms.

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GameStop and AMC, which are considered to be meme stocks, were very popular on internet during the time their stock prices were surging. Even Elon Musk had tweeted about GameStop which increased the popularity of the stock. Both GameStop and AMC were hugely popular on Reddit.

The same is the case here with AMTD Digital but the surge is more dramatic and huge. $450 billion of the market cap is not even achieved by many renowned MNCs listed on exchanges.

In some sense, meme coins are similar to meme stock. A meme coin is a cryptocurrency that originated from an internet meme or has some other humorous characteristic. The popularity on the internet is the key similarity.

Recently, meme coins have also been popular like meme stocks and they have also witnessed huge surges in their prices. Dogecoin has been the most popular meme coin till now. Dogecoin, also considered the first meme coin, was created by its creator with the intention of mocking the wild speculation in cryptocurrencies at that time. But it got so popular that its market cap once reached $85 billion.

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Another interesting meme coin soon to be launched is Tamadoge. The difference is that it’s not just a memecoin and comes with many use cases and sound fundamentals. Tamadoge is the ultimate memecoin Play-to-Earn platform and Tamadoge is at the centre of the Tamaverse.

Tamadoge is a deflationary currency, so, the value of your Tamadoge would only increase with time. The pre-sale of Tamadoge is going on and you may purchase your Tamadoge coins at its official website.

Overall, people can relate with memes and stocks associated with such memes will always be prone to heavy volatility and talk in the town. Due diligence must be done before investing in such stocks.

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Fractional NFT Markets Slide 76% in Value in 7 Months, Diced-up Doge NFT Still Leads the Pack

When non-fungible token (NFT) collectibles became popular, the fractionalized NFT market grew past the $200 million range seven months ago in December 2021. Since then, the fractionalized NFT market has lost more than 76% in value, dropping to an overall market capitalization of around $50 million. Fractional NFT Market Value Slides From $212 Million to::Listen

Fractional NFT Markets Slide 76% in Value in 7 Months, Diced-up Doge NFT Still Leads the Pack

When non-fungible token (NFT) collectibles became popular, the fractionalized NFT market grew past the $200 million range seven months ago in December 2021. Since then, the fractionalized NFT market has lost more than 76% in value, dropping to an overall market capitalization of around $50 million.

Fractional NFT Market Value Slides From $212 Million to $50 Million

The fractionalized NFT market followed alongside the sizable growth the entire NFT industry saw last year. At its height in December 2021, the overall fractionalized NFT market valuation was approximately $212.6 million, according to metrics recorded by dappradar.com.

Today, the value has evaporated by 76.41%, as the current fractionalized NFT market capitalization is roughly $50,401,068. Over seven months ago on Sunday, December 12, 2021, the largest fractionalized NFT project market valuation belonged to the Doge NFT (DOG) with a $130.14 million market cap.

Today, the Doge fractionalized NFT project is still the top dog, so to speak, in terms of market valuation, with $19.71 million. The second most valuable fractionalized NFT project today is Etherrock #72 (PEBBLE) with $5.96 million, but back in December, it had a $22.73 million market valuation.

All of the top fractionalized NFT projects followed the same downward path like the third-largest project Feisty Doge NFT (NFD), which once held an $18.29 million market cap. Today, statistics show NFD is down to $4.22 million. Ladypunk (LADY) had a $7.67 million market valuation seven months ago, and now it’s down to $2.9 million.

LADY also once held the fourth spot, at that time in December, but now it’s coasting along in the fifth position. The fourth-largest fractionalized NFT project today is Ape Punk (APES) with its $2.99 million valuation. The fractionalized Ape Punk project was worth $3.13 million and the project Dissected Meebit NFT (DSMB) was the fifth largest last December.

Today, DSMB has slipped to the seventh-largest market valuation position among all the fractionalized NFTs. Following suit with the greater NFT industry, the fractionalized NFT market valuations have improved during the last 30 days. While NFT sales were down more than 60% in June, last month’s NFT sales were only down 5.23%, according to cryptoslam.io statistics.

Meanwhile, while DOG, PEBBLE, and NFD have the largest market caps today, they also have the most liquidity. The Doge NFT has around $4.86 million, Etherrock #72 is $1.25 million, and the Feisty Doge NFT has roughly $1.15 million in liquidity. The fourth-largest fractionalized project Ape Punk has just over $100K in liquidity, while the rest of the fractionalized gang of NFTs have less than $100K in terms of liquidity.

What do you think about the fractional NFT market economy sliding to $50 million? Let us know what you think about this subject in the comments section below.

Remember Gamestop? This $300 Billion Memestock Leaves It Miles Behind

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