Arslan Butt
Elizabeth II was Queen of the United Kingdom from February 1952 until her death last night. She reigned for 70 years and 214 days, and was the longest-reigning British monarch in history. At the time of her death, Queen Elizabeth II reigned over 14 other Commonwealth countries, including Australia, New Zealand, and Canada.
While monarchy supporters mourned Her Majesty’s death, coin initiatives took advantage of the free publicity. They launched digital coins with a royal theme on Ethereum and the Binance BNB Chain.
Digital Coins With Royal Themes
Following Queen Elizabeth’s death, more than 40 meme coins were created on Ethereum and Binance Smart Chain. Scammers who work with cryptocurrency take advantage of this historical period to promote and profit from their ideas.
Elizabeth, Elizabeth II, Queen Elizabeth II, Queen Inu II, Queen Doge, God Save The Queen, London Bridge Is Down, Queen Grow, and Rip Queen Elizabeth are a few examples. While on the pump, some of the shitcoins saw a 15,000% increase in value and astronomical trade volumes.
Crypto Pump & Dump
When over 30 new coins are already active on Ethereum and Binance Smart Chain just hours after Queen Elizabeth II’s death, it’s not good for cryptocurrency. These cryptocurrencies are thought to be shitcoins that will not repay their investors. Tokens of this type are frequently created using pump and dump schemes, in which the projects’ authors spread (sometimes false) information to encourage purchasing.
In crypto trading word, it’s called pumping. However, following the price growth, projects authors sell it at a profit. They make a profit off of them at the expense of other investors. This whole profit is called “Pump and Dump.”
Queen $Queen / $USDT
BSC – PancakeSwapPrice is up 74.68% in the last hour
Price: $4.27 – 24H Txns: 690 – 24H Volume: $170K – Liquidity: $100K#bsc #pancakeswap #queen
— DEX Screener (@dexscreener) September 9, 2022
According to DEX Screener, a Twitter account that monitors trading activity on decentralized exchanges (DEX), two shitcoins based on Queen Elizabeth II were among the most actively traded digital assets in recent memory. For instance, the QUEEN token on PancakeSwap surged 74% yesterday afternoon, with a total daily volume of $170,000. Over the past 24 hours, $690,000 worth of ELIZABETH/BUSD has exchanged hands, with the token increasing in value by 25% in only one hour.
Elizabeth/BUSD Pumped Over 4,000%
A day earlier, the Elizabeth/BUSD pair soared 4,404% within hours of the Queen’s death. Elizabeth started the day at $0.0000001087 and went on to reach a high of $0.00002733 and a low of $0.000000729 in a single day.
Elizabeth/BUSD Price Chart – Source: Tradingview
The 24-hour trading volume with a total supply of 1T coins was $4,303,032.09. However, the coin was unable to maintain the bullish momentum and lost 98.50% of its bullish movement.
Elizabeth II/USD Rocketed over 50,000%
Likewise, Elizabeth II/BUSD pair skyrocketed by over 50,000% following Queen’s death. Elizabeth II started the day at $0.00000021945 and reached a high of $0.00000034277 and a low of $0.00000001339 in a single day.
Elizabeth II/BUSD Price Chart – Source: Tradingview
The 24-hour trading volume with a total supply of 1T coins was $446,675.29. However, the coin could not maintain the bullish momentum and lost 98.50% of its bullish movement.
Queen’s NFT Collection
In the wake of Queen Elizabeth II’s departure, the collection’s final auction took place as part of a non-fungible token (NFT) project known as QueenE DAO. In the past two months, the Ethereum-based project has generated dozens of works of art dedicated to Queen Elizabeth II. Forking off the NFT Nouns project, Brazilian Fabio Seva (mladen.eth) developed QueenE.
The very last gen1 QueenE (#73) is auctioning at https://t.co/0JCiZ6dCd4
Mint is closed after that.
Gen2 follows later.#NFT #Queen #NFTCommunity pic.twitter.com/xhIqYh80nB
— QueenE DAO (@QueenEDAO) September 8, 2022
Every day for as long as the Queen lived, a new piece from the collection was unveiled. The initiative revealed on Thursday that the 73rd NFT auction would be the final release of the original collection due to the Queen’s death.
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This article was written for Business 2 Community by Arslan Butt.
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