NiftyNoon: Believe in Something - Does Launchcoin's Believe Have Staying Power? 🎢💥❓
Believe App's X-to-token launchpad sent Launchcoin soaring but questions regarding the platform's long term sustainability are emerging (May 19, 2025)
Nifty Thought:
Believe, a novel Solana-based memecoin launchpad founded by Ben Pasternak (rebranded from an earlier project, Clout), has exploded onto the scene, allowing users to launch tokens simply by replying to its "Launchcoin" X account—no crypto wallet required. This social media twist on token creation, coupled with a 50/50 trading fee split for coin creators, fueled massive speculation around LAUNCHCOIN (formerly Pasternak's PASTERNAK token). This token, presumed by many to be Believe's official coin, saw a meteoric rise, rocketing from a $10 million market cap to over $240 million within days in mid-May, marking gains of nearly 3,000% in a week and an astounding 27,000% in a month, as it tapped into the burgeoning "Internet Capital Markets" narrative.
However, after an initial frenzy that saw Believe briefly capture over 13% of Solana launchpad activity with over 4,000 daily token launches between May 13-15, the platform's usage has sharply cooled, with daily launches dropping to around 900 by May 17 and revenue declining significantly. While the "tweet-to-token" model democratizes creation, it brings substantial risks: the platform faces challenges with potential spam, and critically, Rugcheck.xyz highlighted that Believe allows token metadata (name, symbol, URL) to be altered post-launch, opening doors for scams and impersonations. Despite its innovative approach and LAUNCHCOIN's massive rally, Believe's own disclaimers downplay the "Internet Capital Markets" investment angle, and its long-term viability hinges on managing these risks and sustaining user engagement beyond the initial hype.
Highlighted News:
🧠 Big movement in the Believe App eco overnight:
https://x.com/tyler_did_it/status/1924100179268956619?s=46
🤖 @distributeai Airdrop / Presale claim portal coming soon:
https://x.com/distributeai/status/1923846899976540439?s=46
🧟 Punk 3609 bought for 440 ETH ($1,083,222.85 USD) by 0x9c5a74 from 0x2eccf3:
https://x.com/cryptopunksbot/status/1923891989772136601?s=46
🔻 Moody's strips the U.S. government of top credit rating, saying presidents and lawmakers have failed to reverse rising debts:
https://x.com/ap/status/1923495156465979580?s=46
Project and Community News:
Alabama man sentenced to 14 months in prison for fake Bitcoin ETF approval announcement when the SEC's 𝕏 account was hacked: https://x.com/btc_archive/status/1923495062110871612?s=46
First DYOR Hub Call Contest starts next Monday: https://x.com/dyorhub/status/1923437091414823379
The Hyperliquid Bridge, now live with @apecoin: https://x.com/LayerZero_Core/status/1923425362123583946
$183,000,000 in long positions liquidated from the cryptocurrency market: https://x.com/whaleinsider/status/1924194588530442752?s=61
@distributeai presale is officially closed: https://x.com/distributeai/status/1923785782742893017?s=46
Here’s more lore about Malone Lam uncovered during the $243M Genesis Creditor theft: https://x.com/zachxbt/status/1923465312529416702?s=46
Update to the Ethos Everywhere that allows you to fine tune the controls on score filtering for what posts you see: https://x.com/ethos_network/status/1923208945390235950?s=46
Official launch of Lil Pudgys as a standalone brand within the Pudgy Penguins ecosystem announced: https://x.com/chefgoyardi/status/1923811282169315573?s=61
Charles Hoskinson unilaterally swiped ~$248M worth of $ADA from ICO participants during an upgrade without discussion: https://x.com/0xbreadguy/status/1923354422081388571?s=46
pastel.tools webapp is now live and FREE for everyone: https://x.com/pastelalpha/status/1923473798713528391?s=46
Amigo waitlist is now live: https://x.com/TryamigoApp/status/1923440263503966239
@cobie joins Paradigm as an advisor: https://x.com/cobie/status/1923430321124671973?s=46
Blum co-founder and former Binance Russia and CIS executive Vladimir Smerkis was arrested in Moscow on May 16 on charges of large-scale fraud: https://x.com/wublockchain/status/1924144098505846956?s=46
Steak n Shake accepting Bitcoin payments at all locations starting May 16, making the cryptocurrency available to our more than 100 million customers: https://x.com/steaknshake/status/1920647356032139430?s=46
@rektdrinks announce the acquisition of http://rekt.com: https://x.com/rektdrinks/status/1923397611676934336?s=46
Skull of Luci, Sulfuric Fragments, by @SamSpratt was just sold on GONDI for 100 ETH: https://x.com/gondixyz/status/1923438349408403812?s=46
Quick Stats:
👾 Blur ETH Daily Volume: 689 ETH (▲ 51.87%)
🌊 OpenSea ETH Daily Volume: 637 ETH (▼ 30.32%)
🟠 BTC: $102,996.32 (▼ 0.81%)
🔷 ETH: $2,409.52 (▼ 3.67%)
🟣 Solana: $161.44 (▼ 5.52%)
🟪 Polygon: $0.23 (▼ 2.81%)
Top NFT Sales:
CryptoPunks #6479: 58.40 ETH
CryptoPunks #8306: 54.50 ETH
CryptoPunks #2841: 46.59 ETH
NFT Daily Winners:
🧦 Bitcoin Puppets: 0.05 BTC (▲ 11.49%)
🐵 NodeMonkes: 0.04 BTC (▲ 5.72%)
🍭 Mocaverse: 1.80 ETH (▲ 5.68%)
🚬 CryptoPunks: 46.60 ETH (▲ 1.99%)
👩🏻 Milady Maker: 3.06 ETH (▲ 1.27%)
🐧 Pudgy Penguins: 10.10 ETH (▲ 1.20%)
🦧 Bored Ape Yacht Club: 12.85 ETH (▲ 1.17%)
NFT Daily Losers:
🏳🌈 Chromie Squiggles: 5.00 ETH (▼ 0.60%)
⛩ Azuki: 2.43 ETH (▼ 1.22%)
🧙♂️ Taproot Wizards: 0.21 BTC (▼ 1.29%)
🐱 Quantum Cats: 0.04 BTC (▼ 1.63%)
😡 Mad Lads: 36.00 SOL (▼ 4.00%)
🏴☠ Captainz: 0.45 ETH (▼ 5.14%)
👾 Tensorians: 2.80 SOL (▼ 6.67%)
💼 Ordinal Maxi Biz: 0.02 BTC (▼ 9.45%)
Notes:
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