LAUNCHCOIN Rallies as High as 500% Today Amid Ecosystem Growth

LAUNCHCOIN, a token associated with the SocialFi platform Believe, rallied as high as 500% today amid ecosystem growth.

LAUNCHCOIN, a token associated with the SocialFi platform Believe, rallied as high as 500% to hit an all-time high of $0.093 on May 13 during the afternoon Asian trading hours.

Its market cap climbed past $81 million as of writing, while trading volume surged over 500% compared to the previous day, according to CoinGecko.

The community widely expects LAUNCHCOIN to become the official native token of the Believe platform, though no formal designation has been announced. Since being rebranded from PASTERNAK to Launch Coin on Believe on May 2, its price has often rallied in response to ecosystem growth and platform-related developments.

Most of today’s gains followed community hype after Alex Leiman, the developer behind viral apps like RizzGPT and Astra, successfully launched a token named NOODLE for a crypto-powered game using the Believe platform. The game, also named Noodle, puts a Web3 spin on the classic “snake” style gameplay, where players grow by eating others and when they beat another player, they actually win their tokens.

Part of the gains also came after Ben Pasternak teased more updates coming to the Believe ecosystem. In a May 9 post on X, founder Ben Pasternak said Believe will soon roll out new tools to help builders add features to their tokens, along with a software development kit that allows developers to integrate tokens they launch on the platform into external products.

Additionally, Believe has been expanding its team, focusing on bringing more builders and founders to its ecosystem.

What is Launch Coin on Believe?

Launch Coin on Believe is a token associated with Believe, a Web3-based SocialFi platform aiming to revolutionize fundraising and project launching by enabling users to create and launch tokens through social interactions on X. It aims to disrupt traditional venture capital by providing a decentralized, community-driven alternative that empowers builders and founders.

Formerly known as Clout, it rebranded to Believe earlier this year as it fully pivoted into the Web3 space.

Users can create new tokens for their projects by simply posting details about them on X and replying to the tweet with “@launchacoin” followed by the desired token ticker and token name. This triggers the automatic creation of a new token, which is first tested by the Believe system before becoming tradable on supported decentralized platforms.

LAUNCHCOIN’s origin traces back to PASTERNAK, a memecoin created by Clout founder Ben Pasternak. PASTERNAK was the first token to complete a pre-sale on Clout, reaching a market cap of $80 million on its launch day on January 24.