Arbitrum Defies Dip: ARB Pumps — Is This Other Layer 2 Next?
As Bitcoin cools off, falling to as low as $92,600, some top-tier altcoins are shining. Arbitrum (ARB) is one of the multiple tokens that have nearly 2X in November, printing above critical resistance levels.
ARB Rallying
When writing, ARB, the token priming the world’s largest Ethereum layer-2, is up nearly 100% in November.
After sinking to $0.46 in early November, the token has roared 98% to as high as $0.96.
Although prices have corrected, the path of least resistance is northwards.
According to Coingecko, ARB has a market cap of over $3.5 billion, down 4% in the last 24 hours.
At spot rates, ARB is up 100% from its all-time low of $0.43 registered in early August. However, it is down 67% from its all-time high of $2.39 early this year.
If ARB bulls build on the current upswing, there is a high probability of the token rallying above the psychological round at $1 in Q4 2024.
Ethereum Layer-2 Adoption, Arbitrum Building
Tailwinds will be from increasing adoption of Ethereum layer-2s and the first smart contracts platform cementing its position as a lead chain, favored by Wall Street firms and tech companies like Sony and Coinbase.
L2Beat data shows that Arbitrum is the largest Ethereum layer-2 with a total value locked (TVL) of $17.6 billion.
Besides adoption, Arbitrum is building.
Earlier this month, they announced Stylus Sprint.
This program will distribute $5 million in ARB grants to innovative developers building on Arbitrum Stylus.
Arbitrum Stylus is the layer-2’s virtual machine that executes webAssembly (WASM) and is interoperable with the Ethereum Virtual Machine (EVM). Through WASM, developers can code using compatible programming languages, including Rust, allowing them to deploy complex dapps.
The Rise of Pepe Unchained (PEPU): Over $52 Million Raised
As ARB defies gravity, investors are turning their attention to another layer-2 project, Pepe Unchained.
Pepe Unchained is not your ordinary layer-2.
It is building a layer-2 on top of Ethereum but for meme coins.
Data from Coingecko shows that all meme coins now command over $118 billion in market cap. Even with this mega valuation, there is no layer-2 dedicated to this fast-growing sub-sector.
Pepe Unchained will launch Pepe Chain, a layer-2 that will be 100X faster than Ethereum.
At the same time, the Pepe Unchained bridge to Ethereum will be secure, allowing seamless transfer of tokens.
Users without coding experience can freely launch meme coins via the Pump Pad, a meme coin generator similar to SunPump on Tron or Pump.fun on Solana.
Since thousands of tokens will launch, a modern and straightforward blockchain explorer will be available.
It only makes sense.
Pepe Unchained will continuously support its ecosystem. An initiative, “Frens With Benefits,” will fund creators wishing to launch dapps on Pepe Chain.
Ahead of the PEPU exchange listing, the Pepe Unchained presale has raised over $52 million from the community.
Each token is available for just $0.01295.
You can buy PEPU using ETH, USDT, and card; there is no restrictions as to how many tokens you can buy.
EXPLORE: What The HELL is Happening on Pump.Fun?
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