PANews reported on July 4 that according to Bitcoin.com, South African Web3 startup Momint recently announced that it would cease operations, mainly due to rising operating costs, weak user growthPANews reported on July 4 that according to Bitcoin.com, South African Web3 startup Momint recently announced that it would cease operations, mainly due to rising operating costs, weak user growth
South Africa's first NFT trading platform Momint closed due to market pressure
1 min read
PANews reported on July 4 that according to Bitcoin.com, South African Web3 startup Momint recently announced that it would cease operations, mainly due to rising operating costs, weak user growth and a severe financing environment. The platform was established in 2021 and is the first NFT market in South Africa to support local currency transactions. It has attracted attention due to multiple high-value NFT sales and received $2.1 million in seed round financing in its early days.
As the NFT market changes, Momint turns to physical asset tokenization in 2023 and launches SunCash, a solar energy project investment platform, in cooperation with Sun Exchange, promising users an annualized return of 12% USDC. As of mid-2024, the platform has processed more than 400,000 transactions, attracted 53,000 users, and facilitated nearly $2 million in transactions. However, due to insufficient liquidity, regulatory pressure and user scale bottlenecks, the company finally decided to close.
Market Opportunity
AINFT Price(NFT)
$0.0000003365
$0.0000003365$0.0000003365
USD
AINFT (NFT) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
Top Altcoins To Hold Before 2026 For Maximum ROI – One Is Under $1!
BlockchainFX presale surges past $7.5M at $0.024 per token with 500x ROI potential, staking rewards, and BLOCK30 bonus still live — top altcoin to hold before 2026.
Share
Blockchainreporter2025/09/18 01:16
UBS CEO Targets Direct Crypto Access With “Fast Follower” Tokenization Strategy
The tension in UBS’s latest strategy update is not between profit and innovation, but between speed and control. On February 4, 2026, as the bank reported a record
Share
Ethnews2026/02/05 04:56
Cryptos Signal Divergence Ahead of Fed Rate Decision
The post Cryptos Signal Divergence Ahead of Fed Rate Decision appeared on BitcoinEthereumNews.com. Crypto assets send conflicting signals ahead of the Federal Reserve’s September rate decision. On-chain data reveals a clear decrease in Bitcoin and Ethereum flowing into centralized exchanges, but a sharp increase in altcoin inflows. The findings come from a Tuesday report by CryptoQuant, an on-chain data platform. The firm’s data shows a stark divergence in coin volume, which has been observed in movements onto centralized exchanges over the past few weeks. Bitcoin and Ethereum Inflows Drop to Multi-Month Lows Sponsored Sponsored Bitcoin has seen a dramatic drop in exchange inflows, with the 7-day moving average plummeting to 25,000 BTC, its lowest level in over a year. The average deposit per transaction has fallen to 0.57 BTC as of September. This suggests that smaller retail investors, rather than large-scale whales, are responsible for the recent cash-outs. Ethereum is showing a similar trend, with its daily exchange inflows decreasing to a two-month low. CryptoQuant reported that the 7-day moving average for ETH deposits on exchanges is around 783,000 ETH, the lowest in two months. Other Altcoins See Renewed Selling Pressure In contrast, other altcoin deposit activity on exchanges has surged. The number of altcoin deposit transactions on centralized exchanges was quite steady in May and June of this year, maintaining a 7-day moving average of about 20,000 to 30,000. Recently, however, that figure has jumped to 55,000 transactions. Altcoins: Exchange Inflow Transaction Count. Source: CryptoQuant CryptoQuant projects that altcoins, given their increased inflow activity, could face relatively higher selling pressure compared to BTC and ETH. Meanwhile, the balance of stablecoins on exchanges—a key indicator of potential buying pressure—has increased significantly. The report notes that the exchange USDT balance, around $273 million in April, grew to $379 million by August 31, marking a new yearly high. CryptoQuant interprets this surge as a reflection of…
Share
BitcoinEthereumNews2025/09/18 01:01