DAR crypto noticed an enormous value pump forward of its scheduled delisting from Coinbase.
In response to CoinGecko, the token, initially tied to the blockchain sport Mines of Dalarnia, shot up almost 690% to hit an intraday excessive of $0.48 on the morning of Could 15 morning Asian time, earlier than cooling off to round $0.39 at press time.
The rally occurred in an especially high-volume atmosphere, with every day buying and selling quantity spiking 14,600% from the day before today to cross $64 million. This sort of exercise clearly exhibits merchants have been piling in, presumably as a consequence of worry of lacking out (FOMO).
The sharp uptick in DAR’s value today comes amid renewed neighborhood curiosity forward of its delisting from all Coinbase platforms tomorrow, Could 16 at 2:00 PM UTC, alongside 4 different tokens. See under.
The alternate mentioned it’s eradicating the token as a result of a brand new model has been launched, making the unique model now not compliant with its itemizing requirements. Coinbase has suggested customers to both promote or withdraw their tokens earlier than buying and selling is suspended.
Some neighborhood members consider this current value motion might have been a coordinated effort by merchants to attract in additional patrons earlier than exiting forward of the delisting. Google search traits for DAR spiked across the similar time, reflecting elevated retail curiosity which will have intensified the value surge.
One other contributing issue to the sudden value spike will be the limit-only buying and selling mode imposed by Coinbase. The DAR token has been in limit-only mode since Could 2, as half of the delisting course of.
With market orders disabled underneath this setting, liquidity tends to skinny out as merchants exit positions, particularly within the lead-up to removing. This creates a fragile order e book the place even modest shopping for exercise can set off sharp upward actions.
In such situations, high-limit bids, positioned both speculatively or as a consequence of a scarcity of sellers, can amplify value actions and doubtlessly set off a broader cascade of reactive buying and selling.
For these unfamiliar, Mines of Dalarnia is a blockchain-based action-adventure sport the place gamers mine, discover, and battle by procedurally generated ranges to earn sources and improve their gear. The sport initially ran on the Chromia blockchain and used DAR as its fundamental token.
However in January 2024, the undertaking rebranded and expanded right into a broader Web3 ecosystem now known as the DAR Open Community. This marked a significant shift, from being only a sport to changing into a full-blown platform supporting a number of video games, AI integration, and cross-chain options.
As half of that improve, the unique DAR token was changed with D, a brand new token that helps governance, staking, AI agent interplay, and extra superior multichain utilities.
A migration portal was launched on Dec. 20, 2024, permitting customers to swap DAR for D at a 1:1 ratio. The portal will stay open till Dec. 20, 2025.
Main exchanges like Binance, KuCoin, MEXC, Gate.io, BitMart, and Binance.US have supported the token swap and up to date their buying and selling pairs accordingly.
The Dar Open Community is formally set to transition to its mainnet on July 1, alongside the launch of its flagship sport, Dalarnia Legends.
Disclosure: This text doesn’t characterize funding recommendation. The content material and supplies featured on this web page are for instructional functions solely.
