The launch of $PUMP is local top for $SOL and the Solana ecosystem. Until now, $SOL and somewhat $FARTCOIN have been proxies for betting on the growth of the Solana ecosystem, much of which has been tied to meme coin volume. → Fees are down to $1.7M per day, down from the ATHs of $15M → Pump has already raised over $700M in fees, which begs the question of why a token? → Competitors like bonkfun, and Believe have cannibalized volume with no new liquidity coming into the ecosystem. So, who benefits from this extraction? In my opinion, the best two bets are @ethereum and @avax. 1. Why Ethereum? - Ethereum already has established runners, significant liquidity to support volume and an ecosystem (DeFi) for users to play around in. - The @ethereum foundation is also simplifying their roadmap, which bodes well for morale - Lastly, we have ETF funds turning positive over the past month. 2 .Why Avalanche? - Their most recent Octane upgrade has reduced gas fees and increased throughput, making it a perfect place for DeFi, Gaming, and Memes to thrive. - @avax DeFi is growing at a great rate, we've seen significant growth within core protocols - @avantprotocol with avUSD and now savBTC - @eulerfinance with $260M in TVL - L1s are starting to deploy at an expedited rate, particularly gaming and RWA chains ( @MaplestoryU, @GunzillaGames, @vaneck_us) - Transactions are also at a yearly high while gas costs remain historically low, showcasing highly scalable tech. Additionally, both ecosystems are well-positioned to benefit from increased institutional capital being onboarded via their tokenization efforts.
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.