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Moneta Digital (MMXN) is a fiat gateway designed on the blockchain for the Mexican populace. Specifically, it aims to solve “the fiat on/off ramp needs to buy/sell cryptocurrencies.” As of August 30, the token features among Coingape’s trending list, holding steady at $0.059 and giving stablecoin vibes.

Moneta Digital As Stablecoin

Stablecoins are cryptocurrencies designed to maintain a stable price for a defined duration and often stand pegged to a fiat currency. In this case, a stablecoin is an alternative to another more volatile asset, Mexican Peso. It enables everyday transactions on decentralized finance (DeFi) platforms and, more broadly, the cryptocurrency ecosystem.

Moneta Digital is pegged to the Mexican Peso, helping the citizens of Mexico store their crypto in a stable value. It also gives them the freedom to trade and invest in cryptocurrency. Its key selling point is transparency on the blockchain, with every deposit reserved within a fully licensed and regulated bank storage.

Ideally, Moneta Digital, which has earned the alias ‘Crypto-peso,’ is a stablecoin entirely dependent on the number of Mexican pesos that Moneta Digital has. This bolsters its capability to maintain its value throughout the peso.

Also worth noting is that the Moneta Digital stablecoin runs atop blockchain technology. By default, this means it enjoys the benefits of traditional crypto. Among them are transaction security and a reliable network impervious to hacking.

Moneta Digital Price Outlook As MMXN Tests $0.059

At the time of writing, Moneta Digital’s price is trading at $0.059. The price has held steady around this range for quite some time now, hence the stablecoin vibe. The sustained $0.059 price range makes MMXN an ideal option for traders looking to maintain their assets’ value.

Moneta Digital
MMXN 1-day chart, Source: CoinMarketCap

The price action of MMXN is better in terms of stability than the leading stablecoin’s peg to the dollar. As indicated in the chart below, Tether (USDT) and USD Coin (USDC) prices have both strayed away from the Dollar (USD) peg.

USDT USDC
TradingView: USDT/USD 1-day chart, USDC/USD 1-day chart

The margin of deflection for the three stablecoins, MMXN, USDT, and USDC, shows that Monet Digital has displayed more stability, tethered to the $0.059 level, despite broader market turbulence and network fundamentals.

Nevertheless, on metrics of market capitalization, USDT takes precedence, which means MMXN has a long way to go before ascending to the helm of the stablecoin market.

Meanwhile, SONIK crypto is making headlines after breaching the $250,000 low-cap threshold, with analysts forecasting 10X more growth potential.

Promising Alternative to Moneta Digital

Sonik Coin ($SONIK), a growing meme coin inspired by Sonic the Hedgehog, has swiftly surged into the limelight. This began with its presale launch, comprising a single round with enticing opportunities to acquire tokens at a mere $0.000014 per unit.

Sonik Coin has accumulated over $758K in just a few weeks since the presale commenced. However, its ambitions do not end there – the cryptocurrency aims to attain a formidable hard cap of $2,098,547.

In this initial phase, 50% of the token supply is available in the presale, while 40% is reserved for staking. Staking has already attracted considerable interest, with over 24 billion tokens staked. This has yielded an estimated Annual Percentage Yield (APY) of 99%.

The remaining 10% of tokens are allocated to ensure liquidity within decentralized exchanges (DEX). Given this, the roadmap of Sonik Coin includes a listing on Uniswap post-presale.

As indicated, analysts say SONIK could record 10X gains. Furthermore, Sonik Coin has a unique blend of a rapid presale launch and an innovative staking mechanism that has instilled optimism among traders. The cryptocurrency community is closely monitoring Sonik Coin’s journey as it aims to achieve a $100 million market cap rapidly. Such a feat is only attainable for a few meme tokens.

With only six days left in the presale, vibrant discussions occur in the Sonik Coin Telegram community. The project’s ambitious objectives and the remarkable pace of its funding accumulation fuel these discussions. Additionally, the rigorous audit of Sonik Coin’s smart contract by 0xGuard bolsters its credibility and security.

Visit Sonik Coin here

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